Motco Lowers Position in Johnson & Johnson (NYSE:JNJ)

Key Points

• Motco has reduced its ownership of Johnson & Johnson by 2.4% in the first quarter, leaving it with 71,964 shares valued at approximately $11.9 million.
• Several institutional investors, including HB Wealth Management, have increased their stakes, indicating ongoing interest in the stock despite Motco's reduction.
• Johnson & Johnson recently declared a quarterly dividend of $1.30 per share, with a dividend yield of 3.09%, reflecting the company's profitability and commitment to returning value to shareholders.

Motco cut its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 2.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 71,964 shares of the company's stock after selling 1,793 shares during the quarter. Johnson & Johnson comprises 1.3% of Motco's portfolio, making the stock its 24th largest position. Motco's holdings in Johnson & Johnson were worth $11,935,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Lantz Financial LLC lifted its position in Johnson & Johnson by 3.3% during the 1st quarter. Lantz Financial LLC now owns 11,974 shares of the company's stock worth $1,986,000 after buying an additional 377 shares in the last quarter. Sulzberger Capital Advisors Inc. bought a new stake in Johnson & Johnson during the 4th quarter worth about $453,000. Joel Isaacson & Co. LLC lifted its position in Johnson & Johnson by 3.5% during the 1st quarter. Joel Isaacson & Co. LLC now owns 74,132 shares of the company's stock worth $12,294,000 after buying an additional 2,526 shares in the last quarter. State of Wyoming lifted its position in Johnson & Johnson by 205,580.0% during the 4th quarter. State of Wyoming now owns 10,284 shares of the company's stock worth $1,487,000 after buying an additional 10,279 shares in the last quarter. Finally, Range Financial Group LLC lifted its position in Johnson & Johnson by 18.9% during the 1st quarter. Range Financial Group LLC now owns 15,886 shares of the company's stock worth $2,635,000 after buying an additional 2,529 shares in the last quarter. 69.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

JNJ has been the topic of a number of research reports. Piper Sandler reiterated an "overweight" rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Guggenheim reiterated a "neutral" rating and set a $167.00 price target (up previously from $164.00) on shares of Johnson & Johnson in a research report on Thursday, July 17th. Erste Group Bank raised shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Leerink Partnrs downgraded shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, The Goldman Sachs Group raised shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and raised their price target for the company from $157.00 to $172.00 in a research note on Wednesday, April 9th. Nine analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $174.50.

Johnson & Johnson Stock Performance

Shares of JNJ traded up $0.27 on Wednesday, reaching $168.38. The company's stock had a trading volume of 2,096,435 shares, compared to its average volume of 9,035,375. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $169.99. The stock has a market capitalization of $405.14 billion, a P/E ratio of 18.00, a PEG ratio of 2.12 and a beta of 0.41. The stock's 50 day simple moving average is $156.65 and its two-hundred day simple moving average is $156.22. 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 announced its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.09. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. 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 business posted $2.82 earnings per share. Johnson & Johnson's quarterly revenue was up 5.8% on a year-over-year basis. Research analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently announced 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. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio is currently 55.61%.

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.