Johnson & Johnson (NYSE:JNJ) Shares Sold by Staley Capital Advisers Inc.

Key Points

• Staley Capital Advisers Inc. reduced its holdings in Johnson & Johnson by 1.0%, selling 2,855 shares, which makes its investment in the company worth approximately $48.7 million, or about 2.2% of its total portfolio.
• Johnson & Johnson's latest quarterly earnings beat estimates, reporting $2.77 EPS and revenue of $23.74 billion, which was higher than the expected $22.85 billion.
• The company announced a quarterly dividend of $1.30 per share, providing a 3.0% yield, with the ex-dividend date set for August 26th.

Staley Capital Advisers Inc. lessened its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 1.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 293,712 shares of the company's stock after selling 2,855 shares during the period. Johnson & Johnson comprises 2.2% of Staley Capital Advisers Inc.'s investment portfolio, making the stock its 16th biggest holding. Staley Capital Advisers Inc.'s holdings in Johnson & Johnson were worth $48,709,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Highline Wealth Partners LLC boosted its holdings in Johnson & Johnson by 51.8% in the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock worth $42,000 after buying an additional 86 shares during the period. von Borstel & Associates Inc. bought a new stake in Johnson & Johnson in the 1st quarter worth $49,000. Capital A Wealth Management LLC bought a new stake in shares of Johnson & Johnson during the 4th quarter valued at about $50,000. Harvest Fund Management Co. Ltd bought a new stake in Johnson & Johnson during the first quarter worth about $52,000. Finally, Accredited Wealth Management LLC purchased a new position in Johnson & Johnson in the fourth quarter worth about $58,000. Institutional investors and hedge funds own 69.55% of the company's stock.

Analyst Upgrades and Downgrades

JNJ has been the subject of several recent research reports. Piper Sandler reissued an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Sanford C. Bernstein restated a "market perform" rating on shares of Johnson & Johnson in a report on Wednesday, April 16th. Leerink Partnrs cut shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Raymond James Financial lowered their price target on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Finally, Benchmark raised shares of Johnson & Johnson to a "strong-buy" rating in a research report on Thursday, April 24th. Nine equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Johnson & Johnson has an average rating of "Moderate Buy" and an average price target of $174.50.

Johnson & Johnson Trading Down 0.6%

NYSE:JNJ traded down $1.03 on Tuesday, reaching $172.79. 7,872,042 shares of the company's stock were exchanged, compared to its average volume of 9,340,518. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $416.14 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 2.21 and a beta of 0.41. The business has a fifty day moving average of $160.00 and a 200-day moving average of $157.90. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $174.76.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released 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 analyst estimates of $22.85 billion. During the same period in the prior year, the firm earned $2.82 earnings per share. The business's quarterly revenue was up 5.8% compared to the same quarter last year. As a group, analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio is presently 55.61%.

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.