Moors & Cabot Inc. Reduces Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Key Points

• Moors & Cabot Inc. reduced its stock holdings in Johnson & Johnson by 1.6% during the first quarter, now holding 122,159 shares valued at approximately $20.26 million.
• Analysts maintain mixed ratings on Johnson & Johnson, with price targets ranging from $153.00 to $176.00, resulting in a consensus rating of "Moderate Buy."
• The company recently announced a quarterly dividend of $1.30 per share, representing a 3.2% yield and a payout ratio of 55.61%.

Moors & Cabot Inc. lessened its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 1.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 122,159 shares of the company's stock after selling 1,997 shares during the quarter. Johnson & Johnson makes up about 1.0% of Moors & Cabot Inc.'s holdings, making the stock its 15th largest position. Moors & Cabot Inc.'s holdings in Johnson & Johnson were worth $20,259,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Conquis Financial LLC acquired a new stake in shares of Johnson & Johnson during the fourth quarter valued at $33,000. Bernard Wealth Management Corp. purchased a new position in Johnson & Johnson in the 4th quarter valued at about $36,000. Highline Wealth Partners LLC boosted its stake in shares of Johnson & Johnson by 51.8% during the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock worth $42,000 after purchasing an additional 86 shares during the last quarter. von Borstel & Associates Inc. purchased a new stake in shares of Johnson & Johnson during the first quarter worth about $49,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Johnson & Johnson in the first quarter valued at approximately $52,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Piper Sandler reaffirmed an "overweight" rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Leerink Partners downgraded Johnson & Johnson from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $169.00 to $153.00 in a research report on Tuesday, May 13th. Barclays raised their price target on Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Wall Street Zen downgraded shares of Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th. Finally, Morgan Stanley raised their target price on shares of Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Nine analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $174.50.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $164.76 on Friday. The firm's fifty day simple moving average is $157.18 and its 200 day simple moving average is $156.44. 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 twelve month low of $140.68 and a twelve month high of $169.99. The firm has a market capitalization 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 (NYSE:JNJ - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.09. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The company had revenue of $23.74 billion for the quarter, compared to analysts' expectations of $22.85 billion. During the same quarter in the previous year, the firm posted $2.82 earnings per share. The firm's quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

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 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 3.2%. Johnson & Johnson's dividend payout ratio (DPR) is currently 55.61%.

Johnson & Johnson 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.

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