Atlantic Union Bankshares Corp Cuts Position in Johnson & Johnson (NYSE:JNJ)

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Atlantic Union Bankshares Corp lessened its stake in Johnson & Johnson (NYSE:JNJ) by 1.9% in the third quarter, HoldingsChannel.com reports. The firm owned 99,893 shares of the company’s stock after selling 1,930 shares during the quarter. Johnson & Johnson accounts for 1.7% of Atlantic Union Bankshares Corp’s portfolio, making the stock its 12th largest position. Atlantic Union Bankshares Corp’s holdings in Johnson & Johnson were worth $12,924,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in JNJ. Vanguard Group Inc. increased its holdings in Johnson & Johnson by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 225,158,988 shares of the company’s stock valued at $31,360,143,000 after acquiring an additional 1,627,370 shares in the last quarter. Phocas Financial Corp. increased its holdings in Johnson & Johnson by 999,928.6% during the 2nd quarter. Phocas Financial Corp. now owns 125,173,583 shares of the company’s stock valued at $174,342,000 after acquiring an additional 125,161,066 shares in the last quarter. Northern Trust Corp increased its holdings in Johnson & Johnson by 0.9% during the 2nd quarter. Northern Trust Corp now owns 35,255,462 shares of the company’s stock valued at $4,910,381,000 after acquiring an additional 313,073 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Johnson & Johnson by 11.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 20,791,713 shares of the company’s stock valued at $2,895,870,000 after acquiring an additional 2,204,757 shares in the last quarter. Finally, Morgan Stanley increased its holdings in Johnson & Johnson by 0.6% during the 2nd quarter. Morgan Stanley now owns 19,995,067 shares of the company’s stock valued at $2,784,913,000 after acquiring an additional 122,033 shares in the last quarter. Institutional investors and hedge funds own 72.05% of the company’s stock.

Johnson & Johnson stock opened at $127.70 on Friday. Johnson & Johnson has a 12-month low of $121.00 and a 12-month high of $148.99. The stock has a market capitalization of $359.38 billion, a P/E ratio of 15.61, a P/E/G ratio of 2.30 and a beta of 0.69. The firm’s 50-day moving average is $130.45 and its two-hundred day moving average is $134.76. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.33 and a quick ratio of 1.04.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, October 15th. The company reported $2.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.00 by $0.12. Johnson & Johnson had a net margin of 21.09% and a return on equity of 39.54%. The company had revenue of $20.73 billion for the quarter, compared to analysts’ expectations of $20.14 billion. During the same period last year, the company earned $2.05 EPS. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, analysts forecast that Johnson & Johnson will post 8.65 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be given a $0.95 dividend. The ex-dividend date is Monday, November 25th. This represents a $3.80 annualized dividend and a dividend yield of 2.98%. Johnson & Johnson’s dividend payout ratio is presently 46.45%.

Several equities research analysts have issued reports on the stock. Goldman Sachs Group set a $169.00 price target on shares of Johnson & Johnson and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Johnson & Johnson in a research note on Tuesday, July 16th. Raymond James decreased their price target on shares of Johnson & Johnson from $146.00 to $145.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. Bank of America reaffirmed a “hold” rating and set a $150.00 price target on shares of Johnson & Johnson in a research note on Tuesday, July 16th. Finally, Credit Suisse Group raised their price target on shares of Johnson & Johnson from $156.00 to $158.00 and gave the stock an “outperform” rating in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $151.18.

Johnson & Johnson Company Profile

Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.

Further Reading: Equal Weight Rating

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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