Sound View Wealth Advisors Group LLC Sells 12,592 Shares of Johnson & Johnson (NYSE:JNJ)

Key Points

• Sound View Wealth Advisors Group LLC has decreased its stake in Johnson & Johnson by 15.2%, owning 70,119 shares valued at approximately $11.6 million.
• Johnson & Johnson reported $2.77 earnings per share for the last quarter, exceeding analysts' expectations and achieving a revenue of $23.74 billion.
• The company has announced a quarterly dividend of $1.30 per share, with a dividend yield of 3.11%, to be paid to shareholders on September 9th.

Sound View Wealth Advisors Group LLC reduced its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 15.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,119 shares of the company's stock after selling 12,592 shares during the period. Johnson & Johnson accounts for approximately 1.0% of Sound View Wealth Advisors Group LLC's portfolio, making the stock its 26th largest position. Sound View Wealth Advisors Group LLC's holdings in Johnson & Johnson were worth $11,628,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC grew its position in Johnson & Johnson by 24,450.4% in the 1st quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company's stock worth $1,196,596,000 after purchasing an additional 7,185,977 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Johnson & Johnson by 26.4% during the 1st quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock worth $3,844,580,000 after acquiring an additional 4,842,582 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Johnson & Johnson by 134.5% during the 4th quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company's stock worth $1,149,536,000 after acquiring an additional 4,559,147 shares during the last quarter. Northern Trust Corp boosted 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 acquiring an additional 3,363,235 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in shares of Johnson & Johnson by 1,382.0% during the 1st quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company's stock worth $502,509,000 after acquiring an additional 2,825,626 shares during the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Guggenheim restated a "neutral" rating and set a $167.00 target price (up previously from $164.00) on shares of Johnson & Johnson in a research note on Thursday, July 17th. Leerink Partnrs cut shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Piper Sandler restated an "overweight" rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Benchmark upgraded shares of Johnson & Johnson to a "strong-buy" rating in a research note on Thursday, April 24th. Finally, UBS Group lifted their target price on shares of Johnson & Johnson from $180.00 to $190.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Nine research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $174.50.

Johnson & Johnson Price Performance

Shares of Johnson & Johnson stock traded up $2.59 during trading hours on Friday, reaching $167.33. The company's stock had a trading volume of 8,914,735 shares, compared to its average volume of 8,384,981. The firm has a 50 day moving average price of $157.46 and a 200-day moving average price of $156.60. Johnson & Johnson has a one year low of $140.68 and a one year high of $169.99. 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 stock has a market cap of $402.99 billion, a P/E ratio of 17.90, a P/E/G ratio of 2.10 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its earnings results 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 net margin of 25.00% and a return on equity of 32.49%. The firm had revenue of $23.74 billion for the quarter, compared to the consensus estimate of $22.85 billion. During the same period in the previous year, the firm posted $2.82 EPS. The business's quarterly revenue was up 5.8% on a year-over-year basis. On average, analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.1%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio is presently 55.61%.

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.