Smithfield Trust Co Sells 4,303 Shares of Johnson & Johnson (NYSE:JNJ)

Key Points

• Smithfield Trust Co decreased its holdings in Johnson & Johnson by 5.1%, selling 4,303 shares, yet still owned 80,214 shares valued at approximately $13.3 million at the end of the quarter.
• Johnson & Johnson reported a quarterly EPS of $2.77, exceeding expectations, with revenue of $23.74 billion, up 5.8% year-over-year.
• The company announced a quarterly dividend of $1.30 per share, resulting in an annualized dividend of $5.20 and a yield of 3.1%.

Smithfield Trust Co trimmed its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 5.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,214 shares of the company's stock after selling 4,303 shares during the quarter. Smithfield Trust Co's holdings in Johnson & Johnson were worth $13,297,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its position in shares of Johnson & Johnson by 13.9% in the 4th quarter. Brighton Jones LLC now owns 51,876 shares of the company's stock worth $7,502,000 after purchasing an additional 6,332 shares during the period. Hudson Value Partners LLC lifted its position in shares of Johnson & Johnson by 2.5% in the 4th quarter. Hudson Value Partners LLC now owns 41,403 shares of the company's stock worth $5,648,000 after purchasing an additional 1,022 shares during the period. PAX Financial Group LLC lifted its position in shares of Johnson & Johnson by 2.3% in the 4th quarter. PAX Financial Group LLC now owns 4,492 shares of the company's stock worth $650,000 after purchasing an additional 103 shares during the period. Islay Capital Management LLC lifted its position in shares of Johnson & Johnson by 2.6% in the 4th quarter. Islay Capital Management LLC now owns 9,247 shares of the company's stock worth $1,337,000 after purchasing an additional 235 shares during the period. Finally, Resona Asset Management Co. Ltd. acquired a new position in shares of Johnson & Johnson during the 4th quarter valued at $117,401,000. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Trading Up 1.6%

Shares of JNJ opened at $167.33 on Friday. The firm's 50 day simple moving average is $157.46 and its 200 day simple moving average is $156.68. The company has a market capitalization of $402.99 billion, a P/E ratio of 17.90, a P/E/G ratio of 2.13 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. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $169.99.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $0.09. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The business had revenue of $23.74 billion for the quarter, compared to analysts' expectations of $22.85 billion. During the same period last year, the business earned $2.82 earnings per share. The business's quarterly revenue was up 5.8% on a year-over-year basis. Sell-side analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal 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 issued a $1.30 dividend. The ex-dividend date is Tuesday, August 26th. This represents a $5.20 annualized dividend and a dividend yield of 3.1%. Johnson & Johnson's dividend payout ratio (DPR) is currently 55.61%.

Analysts Set New Price Targets

Several research analysts have weighed in on JNJ shares. Morgan Stanley upped their price objective 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. Leerink Partnrs downgraded shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Sanford C. Bernstein restated a "market perform" rating on shares of Johnson & Johnson in a report on Wednesday, April 16th. Royal Bank Of Canada upped their price objective on shares of Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Finally, Piper Sandler restated an "overweight" rating on shares of Johnson & Johnson 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price 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.

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