LSV Asset Management Trims Holdings in Johnson & Johnson (NYSE:JNJ)

Key Points

• LSV Asset Management reduced its holdings in Johnson & Johnson by 5.7%, representing 195,898 shares sold, which now makes up 1.3% of its investment portfolio.
• Johnson & Johnson reported $2.77 earnings per share for its latest quarter, exceeding analyst estimates, with a revenue of $23.74 billion and a year-over-year increase of 5.8%.
• The company announced a quarterly dividend of $1.30 per share, with a dividend yield of 3.1% and a payout ratio of 55.61%.

LSV Asset Management lowered its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 5.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 3,264,744 shares of the company's stock after selling 195,898 shares during the period. Johnson & Johnson comprises about 1.3% of LSV Asset Management's investment portfolio, making the stock its 7th biggest position. LSV Asset Management owned 0.14% of Johnson & Johnson worth $541,425,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Conquis Financial LLC bought a new stake in Johnson & Johnson in the 4th quarter worth $33,000. Bernard Wealth Management Corp. bought a new stake in Johnson & Johnson in the 4th quarter worth $36,000. Highline Wealth Partners LLC grew its holdings in Johnson & Johnson by 51.8% in the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock worth $42,000 after acquiring an additional 86 shares during the last quarter. von Borstel & Associates Inc. bought a new stake in Johnson & Johnson in the 1st quarter worth $49,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in Johnson & Johnson in the 1st quarter worth $52,000. Institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Performance

JNJ opened at $167.33 on Friday. The firm has a market cap of $402.99 billion, a P/E ratio of 17.90, a PEG ratio of 2.10 and a beta of 0.41. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $169.99. The company has a 50 day simple moving average of $157.46 and a two-hundred day simple moving average of $156.60. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76.

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

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be given a dividend of $1.30 per share. The ex-dividend date is Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.1%. Johnson & Johnson's dividend payout ratio is currently 55.61%.

Wall Street Analyst Weigh In

Several research firms have recently commented on JNJ. Benchmark raised shares of Johnson & Johnson to a "strong-buy" rating in a research report on Thursday, April 24th. Barclays raised their target price on shares of Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Bank of America raised their target price on shares of Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Leerink Partners cut shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $169.00 to $153.00 in a research report on Tuesday, May 13th. Finally, Piper Sandler reaffirmed an "overweight" rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Nine research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $174.50.

About Johnson & Johnson

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.

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