Madison Asset Management LLC Sells 8,873 Shares of Johnson & Johnson (NYSE:JNJ)

Madison Asset Management LLC lowered its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 4.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 194,894 shares of the company's stock after selling 8,873 shares during the period. Madison Asset Management LLC's holdings in Johnson & Johnson were worth $32,321,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of JNJ. Brighton Jones LLC lifted its position in Johnson & Johnson by 13.9% during the fourth quarter. Brighton Jones LLC now owns 51,876 shares of the company's stock worth $7,502,000 after buying an additional 6,332 shares during the period. Hudson Value Partners LLC increased its stake in Johnson & Johnson by 2.5% during the fourth quarter. Hudson Value Partners LLC now owns 41,403 shares of the company's stock worth $5,648,000 after acquiring an additional 1,022 shares during the last quarter. Segall Bryant & Hamill LLC increased its stake in Johnson & Johnson by 1.0% during the fourth quarter. Segall Bryant & Hamill LLC now owns 36,670 shares of the company's stock worth $5,303,000 after acquiring an additional 367 shares during the last quarter. Modern Wealth Management LLC increased its stake in Johnson & Johnson by 35.6% during the fourth quarter. Modern Wealth Management LLC now owns 33,386 shares of the company's stock worth $5,149,000 after acquiring an additional 8,769 shares during the last quarter. Finally, Prospect Financial Group LLC acquired a new stake in Johnson & Johnson during the fourth quarter worth about $409,000. Institutional investors and hedge funds own 69.55% of the company's stock.

Johnson & Johnson Stock Down 0.7%

Shares of Johnson & Johnson stock traded down $1.27 during midday trading on Friday, hitting $168.29. The company's stock had a trading volume of 6,199,690 shares, compared to its average volume of 8,375,731. The firm has a market capitalization of $404.92 billion, a P/E ratio of 18.00, a PEG ratio of 2.16 and a beta of 0.41. The stock has a 50-day simple moving average of $156.08 and a 200-day simple moving average of $155.78. The company has a quick ratio of 1.03, a current ratio of 1.26 and a debt-to-equity ratio of 0.49. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $169.99.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.68 by $0.09. Johnson & Johnson had a return on equity of 33.07% and a net margin of 25.00%. The firm had revenue of $23.74 billion during the quarter, compared to analysts' expectations of $22.85 billion. During the same quarter last year, the firm earned $2.82 earnings per share. The business's revenue for the quarter was up 5.8% on a year-over-year basis. As a group, sell-side analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be paid a dividend of $1.30 per share. The ex-dividend date is Tuesday, August 26th. This represents a $5.20 annualized dividend and a yield of 3.09%. Johnson & Johnson's dividend payout ratio is 55.61%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on JNJ. Wall Street Zen lowered Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th. Benchmark upgraded Johnson & Johnson to a "strong-buy" rating in a research note on Thursday, April 24th. Raymond James Financial lowered their target price on Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Bank of America raised their price objective on Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Finally, Piper Sandler reaffirmed an "overweight" rating on shares of Johnson & Johnson in a 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 given a strong buy rating to the stock. According to MarketBeat, Johnson & Johnson currently has an average rating of "Moderate Buy" and a consensus price target 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.