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

Atlantic Union Bankshares Corp trimmed its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 1.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,176 shares of the company’s stock after selling 787 shares during the period. Atlantic Union Bankshares Corp’s holdings in Johnson & Johnson were worth $12,345,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in JNJ. Providence Wealth Advisors LLC lifted its stake in Johnson & Johnson by 1.5% in the third quarter. Providence Wealth Advisors LLC now owns 9,585 shares of the company’s stock valued at $1,569,000 after purchasing an additional 145 shares during the last quarter. Isthmus Partners LLC grew its stake in shares of Johnson & Johnson by 1.8% during the 3rd quarter. Isthmus Partners LLC now owns 97,495 shares of the company’s stock worth $15,800,000 after acquiring an additional 1,765 shares during the period. Suvretta Capital Management LLC raised its stake in Johnson & Johnson by 53.7% in the 3rd quarter. Suvretta Capital Management LLC now owns 138,447 shares of the company’s stock valued at $22,437,000 after acquiring an additional 48,350 shares during the period. Teachers Insurance & Annuity Association of America purchased a new stake in Johnson & Johnson during the third quarter valued at about $149,000. Finally, Pin Oak Investment Advisors Inc. increased its stake in shares of Johnson & Johnson by 1.2% in the third quarter. Pin Oak Investment Advisors Inc. now owns 6,895 shares of the company’s stock worth $1,117,000 after purchasing an additional 82 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $155.40 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85. The firm has a market capitalization of $374.14 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 2.76 and a beta of 0.53. The stock has a fifty day moving average of $159.33 and a 200 day moving average of $156.38.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The firm had revenue of $22.47 billion during the quarter, compared to analyst estimates of $22.17 billion. During the same quarter in the prior year, the company earned $2.66 EPS. The business’s revenue was up 5.2% compared to the same quarter last year. As a group, research analysts expect that Johnson & Johnson will post 9.93 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be given a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.19%. Johnson & Johnson’s dividend payout ratio is currently 71.78%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on JNJ shares. Wolfe Research initiated coverage on shares of Johnson & Johnson in a report on Friday, November 15th. They set an “outperform” rating and a $190.00 target price on the stock. Guggenheim lifted their target price on Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Citigroup increased their price target on shares of Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Morgan Stanley increased their target price on shares of Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and an average price target of $175.94.

Johnson & Johnson Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.