Johnson & Johnson (NYSE:JNJ) Shares Sold by Phoenix Financial Ltd.

Key Points

• Phoenix Financial Ltd. reduced its stake in Johnson & Johnson by 6.9%, ending the first quarter with 27,048 shares valued at approximately $4.49 million.
• During the same period, several institutional investors significantly increased their stakes, notably GAMMA Investing LLC, which grew its position by 24,450.4%, now owning over $1.19 billion in shares.
• Johnson & Johnson recently reported earnings exceeding expectations, with a quarterly revenue of $23.74 billion and an earnings per share of $2.77, beating the consensus by $0.09.

Phoenix Financial Ltd. decreased its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 6.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,048 shares of the company's stock after selling 2,017 shares during the period. Phoenix Financial Ltd.'s holdings in Johnson & Johnson were worth $4,492,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in JNJ. AM Investment Strategies LLC grew its position in Johnson & Johnson by 4.1% in the 1st quarter. AM Investment Strategies LLC now owns 19,131 shares of the company's stock worth $3,173,000 after purchasing an additional 745 shares during the period. Drive Wealth Management LLC lifted its stake in shares of Johnson & Johnson by 12.9% during the 1st quarter. Drive Wealth Management LLC now owns 4,700 shares of the company's stock valued at $779,000 after buying an additional 538 shares in the last quarter. Private Management Group Inc. lifted its stake in shares of Johnson & Johnson by 3.6% during the 1st quarter. Private Management Group Inc. now owns 151,370 shares of the company's stock valued at $25,103,000 after buying an additional 5,271 shares in the last quarter. Caliber Wealth Management LLC KS purchased a new position in shares of Johnson & Johnson during the 1st quarter valued at $3,429,000. Finally, Trilogy Capital Inc. increased its holdings in Johnson & Johnson by 5.3% in the 1st quarter. Trilogy Capital Inc. now owns 5,252 shares of the company's stock valued at $871,000 after acquiring an additional 263 shares during the last quarter. Institutional investors own 69.55% of the company's stock.

Wall Street Analysts Forecast Growth

JNJ has been the topic of a number of research reports. Royal Bank Of Canada lifted their price target on shares of Johnson & Johnson from $181.00 to $185.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Piper Sandler restated an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Bank of America upped their price target on shares of Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Raymond James Financial lowered their price target on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Finally, Leerink Partners cut shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $169.00 to $153.00 in a research report on Tuesday, May 13th. Nine equities research 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. According to data from MarketBeat, Johnson & Johnson has an average rating of "Moderate Buy" and an average price target of $174.50.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ traded down $0.35 during midday trading on Wednesday, hitting $167.76. The company's stock had a trading volume of 1,488,572 shares, compared to its average volume of 9,030,642. 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 business's 50 day simple moving average is $156.65 and its 200 day simple moving average is $156.22. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $169.99. The company has a market cap of $403.64 billion, a P/E ratio of 17.94, a price-to-earnings-growth ratio of 2.12 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings results 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 analysts' expectations of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The firm's revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.82 EPS. On average, analysts forecast that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

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 of this dividend is Tuesday, August 26th. This represents a $5.20 annualized dividend and a dividend yield of 3.10%. Johnson & Johnson's dividend payout ratio is presently 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.