Stratos Wealth Partners LTD. Trims Stake in Johnson & Johnson $JNJ

Key Points

• Stratos Wealth Partners LTD. reduced its stake in Johnson & Johnson by 2.4%, selling 2,588 shares, and now holds 105,914 shares valued at approximately $16.2 million.
• Johnson & Johnson reported $2.26 EPS for the last quarter with revenues of $24.02 billion, showcasing strong financial performance.
• The company will pay a $1.30 quarterly dividend on December 9th, representing an annualized yield of 2.7% and a payout ratio of 50.19%.

Stratos Wealth Partners LTD. cut its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 2.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 105,914 shares of the company's stock after selling 2,588 shares during the period. Stratos Wealth Partners LTD.'s holdings in Johnson & Johnson were worth $16,178,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in JNJ. GFG Capital LLC bought a new position in shares of Johnson & Johnson in the 2nd quarter worth about $35,000. Stone House Investment Management LLC purchased a new stake in Johnson & Johnson in the first quarter worth about $47,000. 1248 Management LLC bought a new position in shares of Johnson & Johnson during the first quarter valued at approximately $48,000. von Borstel & Associates Inc. purchased a new position in shares of Johnson & Johnson during the first quarter valued at approximately $49,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Johnson & Johnson in the 1st quarter worth approximately $52,000. Hedge funds and other institutional investors own 69.55% of the company's stock.

Johnson & Johnson Price Performance

NYSE JNJ opened at $193.27 on Friday. The stock has a market capitalization of $465.45 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 2.27 and a beta of 0.40. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $194.40. 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 business's fifty day moving average price is $180.49 and its 200-day moving average price is $164.86.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. The company had revenue of $24.02 billion during the quarter. Johnson & Johnson had a return on equity of 33.08% and a net margin of 27.26%. On average, equities analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 25th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.7%. Johnson & Johnson's dividend payout ratio (DPR) is presently 50.19%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on JNJ shares. Bank of America lifted their price objective on Johnson & Johnson from $198.00 to $204.00 and gave the company a "neutral" rating in a research note on Wednesday. Argus set a $210.00 price target on Johnson & Johnson in a research report on Wednesday. Piper Sandler reiterated an "overweight" rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Guggenheim raised shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and raised their price target for the company from $167.00 to $206.00 in a research report on Tuesday, September 23rd. Finally, Cowen reaffirmed a "buy" rating on shares of Johnson & Johnson in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Johnson & Johnson has an average rating of "Moderate Buy" and an average price target of $199.59.

Insider Transactions at Johnson & Johnson

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the company's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the completion of the sale, the executive vice president directly owned 178,013 shares of the company's stock, valued at approximately $31,652,491.53. This represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.16% of the company's stock.

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.

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