RWA Wealth Partners LLC Sells 11,451 Shares of Johnson & Johnson $JNJ

Key Points

• RWA Wealth Partners LLC reduced its stake in Johnson & Johnson by 3.1%, selling 11,451 shares and holding a total of 354,105 shares worth approximately $58.7 million.
• Johnson & Johnson reported $2.77 earnings per share in its latest quarterly results, surpassing analyst expectations and marking a 5.8% revenue increase compared to the previous year.
• The company declared a quarterly dividend of $1.30 per share, representing a 2.9% yield, with an annualized dividend payout of $5.20.

RWA Wealth Partners LLC decreased its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 3.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 354,105 shares of the company's stock after selling 11,451 shares during the period. Johnson & Johnson comprises about 0.7% of RWA Wealth Partners LLC's investment portfolio, making the stock its 23rd biggest position. RWA Wealth Partners LLC's holdings in Johnson & Johnson were worth $58,725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Highline Wealth Partners LLC boosted its position in Johnson & Johnson by 51.8% during the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock valued at $42,000 after buying an additional 86 shares during the period. Stone House Investment Management LLC purchased a new stake in Johnson & Johnson during the 1st quarter valued at $47,000. von Borstel & Associates Inc. purchased a new stake in Johnson & Johnson during the 1st quarter valued at $49,000. Harvest Fund Management Co. Ltd purchased a new stake in Johnson & Johnson during the 1st quarter valued at $52,000. Finally, Capital A Wealth Management LLC purchased a new stake in Johnson & Johnson during the 4th quarter valued at $50,000. Institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Performance

JNJ opened at $176.76 on Monday. The firm has a market cap of $425.70 billion, a P/E ratio of 18.90, a PEG ratio of 2.25 and a beta of 0.41. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. The company has a 50 day simple moving average of $161.28 and a two-hundred day simple moving average of $158.43. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $177.27.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 earnings per share 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 firm had revenue of $23.74 billion during the quarter, compared to analyst estimates of $22.85 billion. During the same quarter in the prior year, the company posted $2.82 earnings per share. The business's quarterly revenue was up 5.8% compared to the same quarter last year. Equities analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Investors 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 2.9%. Johnson & Johnson's dividend payout ratio is currently 55.61%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on JNJ. Piper Sandler restated an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Barclays increased their price target on shares of Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Leerink Partners cut 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 note on Tuesday, May 13th. Guggenheim reiterated a "neutral" rating and set a $167.00 price objective (up previously from $164.00) on shares of Johnson & Johnson in a research note on Thursday, July 17th. Finally, Leerink Partnrs downgraded shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Nine investment 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 MarketBeat.com, Johnson & Johnson presently has an average rating of "Moderate Buy" and an average target price of $174.50.

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.

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