Johnson & Johnson (NYSE:JNJ) Shares Sold by Modera Wealth Management LLC

Key Points

• Modera Wealth Management LLC reduced its stake in Johnson & Johnson by 1.6%, holding 228,516 shares valued at approximately $37.90 million as of the end of the first quarter.
• Several institutional investors made significant adjustments to their holdings in Johnson & Johnson, with GAMMA Investing LLC increasing its stake by 24,450.4%, now owning over 7.2 million shares valued at about $1.20 billion.
• Johnson & Johnson declared a quarterly dividend of $1.30 per share, with an annualized dividend yield of 3.09%, payable on September 9th.

Modera Wealth Management LLC cut its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 1.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 228,516 shares of the company's stock after selling 3,624 shares during the quarter. Modera Wealth Management LLC's holdings in Johnson & Johnson were worth $37,897,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of JNJ. Atlantic Family Wealth LLC grew its holdings in Johnson & Johnson by 4.4% in the first quarter. Atlantic Family Wealth LLC now owns 1,603 shares of the company's stock valued at $266,000 after purchasing an additional 67 shares during the last quarter. MBA Advisors LLC boosted its stake in shares of Johnson & Johnson by 1.2% during the first quarter. MBA Advisors LLC now owns 5,553 shares of the company's stock valued at $921,000 after acquiring an additional 68 shares during the last quarter. Sovereign Financial Group Inc. boosted its stake in shares of Johnson & Johnson by 1.8% during the first quarter. Sovereign Financial Group Inc. now owns 3,928 shares of the company's stock valued at $651,000 after acquiring an additional 69 shares during the last quarter. Nabity Jensen Investment Management Inc boosted its stake in shares of Johnson & Johnson by 1.5% during the first quarter. Nabity Jensen Investment Management Inc now owns 4,624 shares of the company's stock valued at $767,000 after acquiring an additional 69 shares during the last quarter. Finally, Jackson Grant Investment Advisers Inc. boosted its stake in shares of Johnson & Johnson by 0.5% during the first quarter. Jackson Grant Investment Advisers Inc. now owns 12,970 shares of the company's stock valued at $2,151,000 after acquiring an additional 69 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ traded down $2.50 during mid-day trading on Thursday, hitting $164.76. The company had a trading volume of 9,876,897 shares, compared to its average volume of 8,007,298. The stock has a market cap of $396.81 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 2.13 and a beta of 0.41. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $169.99. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. The firm's 50 day simple moving average is $157.18 and its two-hundred day simple moving average is $156.44.

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

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson's payout ratio is currently 55.61%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on JNJ shares. Royal Bank Of Canada increased their price objective on Johnson & Johnson from $181.00 to $185.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Piper Sandler reiterated an "overweight" rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Wall Street Zen downgraded Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. Bank of America raised their price objective on Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Finally, Erste Group Bank upgraded Johnson & Johnson from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. 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. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average 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.