Johnson & Johnson (NYSE:JNJ) Shares Sold by Prossimo Advisors LLC

Key Points

• Prossimo Advisors LLC reduced its stake in Johnson & Johnson by 74.4%, leaving them with 1,561 shares worth approximately $259,000 as of their latest SEC filing.
• Johnson & Johnson reported a quarterly EPS of $2.77, surpassing analyst expectations, and posted a revenue of $23.74 billion, reflecting a year-over-year increase of 5.8%.
• The company announced a quarterly dividend of $1.30 per share, with an ex-dividend date of August 26th, representing an annualized yield of 3.09%.

Prossimo Advisors LLC lowered its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 74.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,561 shares of the company's stock after selling 4,530 shares during the quarter. Prossimo Advisors LLC's holdings in Johnson & Johnson were worth $259,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of Johnson & Johnson by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 57,667,920 shares of the company's stock valued at $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 in the last quarter. Wellington Management Group LLP raised its stake in shares of Johnson & Johnson by 1.8% in the 4th quarter. Wellington Management Group LLP now owns 24,356,572 shares of the company's stock valued at $3,522,447,000 after acquiring an additional 431,205 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Johnson & Johnson by 26.4% in the 1st 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 acquiring an additional 4,842,582 shares in the last quarter. Finally, Invesco Ltd. increased its position in Johnson & Johnson by 6.5% in the 4th quarter. Invesco Ltd. now owns 19,126,079 shares of the company's stock worth $2,766,014,000 after buying an additional 1,171,975 shares during the period. Institutional investors and hedge funds own 69.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on JNJ shares. Barclays upped their target price on shares of Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Raymond James Financial cut their target price on Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. UBS Group increased their target price on Johnson & Johnson from $180.00 to $190.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Erste Group Bank upgraded Johnson & Johnson from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Finally, Wall Street Zen lowered Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. Nine 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's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $174.50.

Johnson & Johnson Trading Down 0.1%

Shares of JNJ stock traded down $0.10 during trading hours on Wednesday, reaching $168.01. The company's stock had a trading volume of 1,920,906 shares, compared to its average volume of 9,034,078. Johnson & Johnson has a one year low of $140.68 and a one year high of $169.99. The stock has a market capitalization of $404.24 billion, a P/E ratio of 17.97, a P/E/G ratio of 2.12 and a beta of 0.41. The firm's fifty day simple moving average is $156.65 and its 200 day simple moving average is $156.22. 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 (NYSE:JNJ - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.68 by $0.09. The company had revenue of $23.74 billion for the quarter, compared to analysts' expectations 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 was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted $2.82 earnings per share. Equities research analysts expect that Johnson & Johnson will post 10.58 EPS for the current 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 issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio (DPR) is 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.