Johnson & Johnson (NYSE:JNJ) Shares Sold by Longfellow Investment Management Co. LLC

Key Points

• Longfellow Investment Management Co. LLC reduced its stake in Johnson & Johnson by 37.3% during the first quarter, holding 7,777 shares valued at approximately $1.29 million at quarter’s end.
• Analysts have mixed opinions on JNJ shares, with twelve rating the stock as a buy and two issuing a strong buy, while the consensus target price is set at $174.50.
• Johnson & Johnson announced a quarterly dividend of $1.30 per share, reflecting an annualized dividend yield of 3.0% and a payout ratio of 55.61%.

Longfellow Investment Management Co. LLC cut its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 37.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,777 shares of the company's stock after selling 4,627 shares during the period. Longfellow Investment Management Co. LLC's holdings in Johnson & Johnson were worth $1,290,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC raised its position in Johnson & Johnson by 51.8% in the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock valued at $42,000 after purchasing an additional 86 shares during the period. von Borstel & Associates Inc. purchased a new stake in Johnson & Johnson in the first quarter valued at approximately $49,000. Harvest Fund Management Co. Ltd purchased a new stake in Johnson & Johnson in the first quarter valued at approximately $52,000. Capital A Wealth Management LLC purchased a new stake in Johnson & Johnson in the fourth quarter valued at approximately $50,000. Finally, Pandora Wealth Inc. purchased a new stake in Johnson & Johnson in the first quarter valued at approximately $65,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Stock Down 0.6%

NYSE:JNJ traded down $1.03 during trading hours on Tuesday, hitting $172.79. The company's stock had a trading volume of 7,872,042 shares, compared to its average volume of 9,340,518. The stock has a market capitalization of $416.14 billion, a P/E ratio of 18.48, a price-to-earnings-growth ratio of 2.21 and a beta of 0.41. The stock has a fifty day moving average of $160.00 and a 200-day moving average of $157.90. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $174.76.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.68 by $0.09. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The firm had revenue of $23.74 billion for the quarter, compared to analyst estimates of $22.85 billion. During the same quarter in the prior year, the company posted $2.82 earnings per share. Johnson & Johnson's revenue for the quarter was up 5.8% compared to the same quarter last year. On average, equities analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.0%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio is currently 55.61%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on JNJ shares. Piper Sandler reissued an "overweight" rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Raymond James Financial cut their price objective on Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Erste Group Bank raised Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Guggenheim reaffirmed a "neutral" rating and set a $167.00 price objective (up previously from $164.00) on shares of Johnson & Johnson in a research report on Thursday, July 17th. Finally, Benchmark raised Johnson & Johnson to a "strong-buy" rating in a research report on Thursday, April 24th. Nine analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $174.50.

Johnson & Johnson Company Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.