First Western Trust Bank Decreases Stake in Johnson & Johnson (NYSE:JNJ)

First Western Trust Bank lowered its stake in Johnson & Johnson (NYSE:JNJ) by 2.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,994 shares of the company’s stock after selling 461 shares during the period. First Western Trust Bank’s holdings in Johnson & Johnson were worth $3,150,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Lantz Financial LLC increased its stake in shares of Johnson & Johnson by 3.3% in the first quarter. Lantz Financial LLC now owns 11,974 shares of the company’s stock worth $1,986,000 after acquiring an additional 377 shares during the period. Sulzberger Capital Advisors Inc. acquired a new stake in shares of Johnson & Johnson in the fourth quarter worth $453,000. Joel Isaacson & Co. LLC increased its stake in shares of Johnson & Johnson by 3.5% in the first quarter. Joel Isaacson & Co. LLC now owns 74,132 shares of the company’s stock worth $12,294,000 after acquiring an additional 2,526 shares during the period. State of Wyoming increased its stake in shares of Johnson & Johnson by 205,580.0% in the fourth quarter. State of Wyoming now owns 10,284 shares of the company’s stock worth $1,487,000 after acquiring an additional 10,279 shares during the period. Finally, Range Financial Group LLC increased its stake in shares of Johnson & Johnson by 18.9% in the first quarter. Range Financial Group LLC now owns 15,886 shares of the company’s stock worth $2,635,000 after acquiring an additional 2,529 shares during the period. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

JNJ opened at $173.40 on Friday. The firm has a market capitalization of $417.61 billion, a PE ratio of 18.55, a PEG ratio of 2.18 and a beta of 0.41. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $173.96. The firm’s 50-day moving average price is $159.26 and its 200 day moving average price is $157.44. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly 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. The firm had revenue of $23.74 billion for the quarter, compared to analyst estimates of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. Johnson & Johnson’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.82 earnings per share. As a group, sell-side analysts expect that Johnson & Johnson will post 10.58 EPS 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. Shareholders of record on Tuesday, August 26th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a yield of 3.0%. Johnson & Johnson’s payout ratio is 55.61%.

Analyst Ratings Changes

Several research firms recently commented on JNJ. Bank of America raised their price target on shares of Johnson & Johnson from $161.00 to $175.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Benchmark upgraded shares of Johnson & Johnson to a “strong-buy” rating in a research report on Thursday, April 24th. Sanford C. Bernstein restated a “market perform” rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Piper Sandler restated an “overweight” rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Finally, Raymond James Financial dropped their price target on shares of Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. Nine investment 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.