Nottingham Advisors Inc. Lowers Holdings in Johnson & Johnson (NYSE:JNJ)

Key Points

• Nottingham Advisors Inc. reduced its holdings in Johnson & Johnson by 41.2%, selling 1,529 shares, and now owns 2,186 shares valued at $363,000 as of the latest filing.
• Several hedge funds, including Conquis Financial LLC and Bernard Wealth Management Corp., have made new investments in Johnson & Johnson, contributing to a 69.55% institutional ownership of the company.
• Johnson & Johnson reported earnings of $2.77 per share for the last quarter, exceeding analyst expectations, with a revenue of $23.74 billion, up 5.8% year-over-year.

Nottingham Advisors Inc. lessened its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 41.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,186 shares of the company's stock after selling 1,529 shares during the quarter. Nottingham Advisors Inc.'s holdings in Johnson & Johnson were worth $363,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of Johnson & Johnson by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 57,667,920 shares of the company's stock worth $8,321,881,000 after purchasing an additional 1,561,036 shares during the period. Northern Trust Corp raised its stake in shares of Johnson & Johnson by 12.3% during the 4th quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock worth $4,456,201,000 after purchasing an additional 3,363,235 shares during the period. Wellington Management Group LLP lifted its holdings in Johnson & Johnson by 1.8% during the fourth quarter. Wellington Management Group LLP now owns 24,356,572 shares of the company's stock valued at $3,522,447,000 after purchasing an additional 431,205 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Johnson & Johnson by 26.4% during the first quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock valued at $3,844,580,000 after purchasing an additional 4,842,582 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in Johnson & Johnson by 6.5% during the fourth quarter. Invesco Ltd. now owns 19,126,079 shares of the company's stock valued at $2,766,014,000 after purchasing an additional 1,171,975 shares during the last quarter. Institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Down 1.2%

Shares of JNJ traded down $2.04 during trading hours on Thursday, hitting $165.22. The company had a trading volume of 4,612,274 shares, compared to its average volume of 9,032,313. The firm has a fifty day moving average price of $156.93 and a 200-day moving average price of $156.30. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01. The stock has a market capitalization of $397.90 billion, a price-to-earnings ratio of 17.67, a P/E/G ratio of 2.14 and a beta of 0.41. Johnson & Johnson has a 52-week low of $140.68 and a 52-week 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 EPS for the quarter, topping the consensus estimate of $2.68 by $0.09. The company had revenue of $23.74 billion during 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%. Johnson & Johnson's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the company earned $2.82 EPS. On average, equities research analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders 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 3.15%. Johnson & Johnson's payout ratio is currently 55.61%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Bank of America upped their price objective on shares of Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. UBS Group increased their price target on shares of Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Leerink Partnrs downgraded shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Piper Sandler reissued an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Finally, Morgan Stanley increased their price target on shares of Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Nine equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $174.50.

Johnson & Johnson Company 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.