Towercrest Capital Management Sells 243 Shares of Johnson & Johnson (NYSE:JNJ)

Towercrest Capital Management reduced its stake in shares of Johnson & Johnson (NYSE:JNJ) by 3.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,463 shares of the company’s stock after selling 243 shares during the quarter. Towercrest Capital Management’s holdings in Johnson & Johnson were worth $1,072,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC raised its position in Johnson & Johnson by 24,450.4% during the 1st quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company’s stock valued at $1,196,596,000 after purchasing an additional 7,185,977 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Johnson & Johnson by 26.4% during the first quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company’s stock valued at $3,844,580,000 after acquiring an additional 4,842,582 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Johnson & Johnson by 134.5% in the fourth quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company’s stock worth $1,149,536,000 after acquiring an additional 4,559,147 shares during the period. Northern Trust Corp increased its position in Johnson & Johnson by 12.3% during the 4th quarter. Northern Trust Corp now owns 30,813,175 shares of the company’s stock valued at $4,456,201,000 after purchasing an additional 3,363,235 shares during the period. Finally, Pacer Advisors Inc. raised its holdings in Johnson & Johnson by 1,382.0% in the 1st quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company’s stock worth $502,509,000 after purchasing an additional 2,825,626 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Down 0.5%

JNJ stock opened at $167.31 on Thursday. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $169.99. The business has a fifty day moving average price of $156.93 and a 200-day moving average price of $156.30. The stock has a market capitalization of $402.94 billion, a P/E ratio of 17.89, a P/E/G ratio of 2.14 and a beta of 0.41. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.09. The firm had revenue of $23.74 billion during the quarter, compared to analysts’ expectations of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.82 earnings per share. Equities analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be issued a dividend of $1.30 per share. The ex-dividend date is Tuesday, August 26th. This represents a $5.20 annualized dividend and a dividend yield of 3.11%. Johnson & Johnson’s payout ratio is 55.61%.

Analysts Set New Price Targets

Several brokerages recently issued reports on JNJ. Wall Street Zen cut shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 18th. Piper Sandler reaffirmed an “overweight” rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Morgan Stanley increased their target price on Johnson & Johnson from $171.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 17th. Guggenheim restated a “neutral” rating and set a $167.00 price target (up from $164.00) on shares of Johnson & Johnson in a research report on Thursday, July 17th. Finally, Royal Bank Of Canada increased their price objective on Johnson & Johnson from $181.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, July 17th. Nine investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $174.50.

Johnson & Johnson 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.