Stoneridge Investment Partners LLC Lowers Stock Holdings in Johnson & Johnson $JNJ

Key Points

• Stoneridge Investment Partners LLC reduced its holdings in Johnson & Johnson by 57.2%, selling 9,472 shares, which left them with 7,083 shares valued at $1,175,000.
• Johnson & Johnson reported $2.77 EPS for the quarter, exceeding analysts' estimates and showing a 5.8% revenue growth compared to the previous year.
• The company recently declared a quarterly dividend of $1.30 per share, representing an annualized yield of 2.9%, with a payout ratio of 55.61%.

Stoneridge Investment Partners LLC lowered its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 57.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,083 shares of the company's stock after selling 9,472 shares during the quarter. Stoneridge Investment Partners LLC's holdings in Johnson & Johnson were worth $1,175,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Brighton Jones LLC increased its stake in Johnson & Johnson by 13.9% during the 4th quarter. Brighton Jones LLC now owns 51,876 shares of the company's stock worth $7,502,000 after buying an additional 6,332 shares in the last quarter. Hudson Value Partners LLC increased its stake in Johnson & Johnson by 2.5% during the 4th quarter. Hudson Value Partners LLC now owns 41,403 shares of the company's stock worth $5,648,000 after buying an additional 1,022 shares in the last quarter. Harvest Investment Services LLC purchased a new stake in Johnson & Johnson during the 4th quarter worth approximately $255,000. Alta Advisers Ltd grew its position in shares of Johnson & Johnson by 11.5% in the fourth quarter. Alta Advisers Ltd now owns 7,918 shares of the company's stock valued at $1,145,000 after purchasing an additional 818 shares in the last quarter. Finally, MGO One Seven LLC grew its position in shares of Johnson & Johnson by 10.8% in the fourth quarter. MGO One Seven LLC now owns 76,442 shares of the company's stock valued at $11,055,000 after purchasing an additional 7,454 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company's stock.

Johnson & Johnson Trading Up 0.8%

JNJ opened at $177.7060 on Wednesday. Johnson & Johnson has a one year low of $140.68 and a one year high of $178.18. The stock has a market capitalization of $427.98 billion, a PE ratio of 19.01, a P/E/G ratio of 2.24 and a beta of 0.41. The business's 50 day moving average price is $162.13 and its 200 day moving average price is $158.73. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 EPS 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 company had revenue of $23.74 billion for the quarter, compared to analysts' expectations of $22.85 billion. During the same period in the prior year, the firm earned $2.82 earnings per share. The firm's revenue was up 5.8% compared to the same quarter last year. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. As a group, equities research analysts expect 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. Shareholders of record on Tuesday, August 26th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio is 55.61%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on JNJ shares. Morgan Stanley upped their price target on Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Royal Bank Of Canada upped their price target on Johnson & Johnson from $181.00 to $185.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Guggenheim restated a "neutral" rating and issued a $167.00 price target (up from $164.00) on shares of Johnson & Johnson in a research report on Thursday, July 17th. Piper Sandler restated an "overweight" rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Finally, UBS Group upped their price target on Johnson & Johnson from $180.00 to $190.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company 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.

Want to see what other hedge funds are holding JNJ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Johnson & Johnson (NYSE:JNJ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.