Johnson & Johnson (NYSE:JNJ) Shares Sold by Sienna Gestion

Key Points

• Sienna Gestion reduced its holdings in Johnson & Johnson by 9.5% in Q1, now owning 118,364 shares valued at approximately $19.08 million, which constitutes 1.6% of its portfolio.
• The company reported a net margin of 25% and a revenue of $23.74 billion for the latest quarter, surpassing analyst estimates in both earnings per share and revenue.
• Johnson & Johnson announced a quarterly dividend of $1.30 per share, reflecting an annualized dividend yield of 3.0%, with a payout ratio of 55.61%.

Sienna Gestion lowered its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 9.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 118,364 shares of the company's stock after selling 12,401 shares during the quarter. Johnson & Johnson accounts for about 1.6% of Sienna Gestion's investment portfolio, making the stock its 8th largest position. Sienna Gestion's holdings in Johnson & Johnson were worth $19,081,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in JNJ. Highline Wealth Partners LLC increased its position in Johnson & Johnson by 51.8% in the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock worth $42,000 after purchasing an additional 86 shares during the last quarter. Stone House Investment Management LLC bought a new position in shares of Johnson & Johnson in the first quarter worth about $47,000. von Borstel & Associates Inc. bought a new position in shares of Johnson & Johnson in the first quarter worth about $49,000. Capital A Wealth Management LLC bought a new position in shares of Johnson & Johnson in the fourth quarter worth about $50,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Johnson & Johnson in the first quarter worth about $52,000. Hedge funds and other institutional investors own 69.55% of the company's stock.

Johnson & Johnson Trading Up 1.2%

Shares of NYSE JNJ traded up $2.04 during trading on Friday, hitting $176.76. 9,476,237 shares of the company were exchanged, compared to its average volume of 8,427,234. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $177.27. 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 company has a fifty day moving average price of $160.85 and a 200-day moving average price of $158.16. The firm has a market capitalization of $425.70 billion, a PE ratio of 18.90, a P/E/G ratio of 2.23 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $0.09. The company had revenue of $23.74 billion for the quarter, compared to analyst estimates of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The business's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.82 earnings per share. As a group, equities research analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently announced 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 2.9%. Johnson & Johnson's payout ratio is 55.61%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Barclays increased their price target on shares of Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Leerink Partnrs lowered shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Guggenheim reissued a "neutral" rating and set a $167.00 price target (up from $164.00) on shares of Johnson & Johnson in a research report on Thursday, July 17th. Leerink Partners lowered shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $169.00 to $153.00 in a research report on Tuesday, May 13th. Finally, Benchmark raised shares of Johnson & Johnson to a "strong-buy" rating in a research report on Thursday, April 24th. Nine investment 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. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.