Truist Financial Corp Trims Holdings in Johnson & Johnson (NYSE:JNJ)

Truist Financial Corp lessened its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 11.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,582,260 shares of the company's stock after selling 195,281 shares during the period. Truist Financial Corp owned 0.07% of Johnson & Johnson worth $228,827,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. AMF Tjanstepension AB grew its stake in shares of Johnson & Johnson by 14.2% during the 3rd quarter. AMF Tjanstepension AB now owns 425,261 shares of the company's stock valued at $68,985,000 after purchasing an additional 52,997 shares during the period. Alpha Financial Partners LLC bought a new position in shares of Johnson & Johnson during the 3rd quarter valued at approximately $209,000. Wealth Group Ltd. bought a new position in shares of Johnson & Johnson during the 3rd quarter valued at approximately $213,000. Swedbank AB grew its stake in shares of Johnson & Johnson by 5.3% during the 3rd quarter. Swedbank AB now owns 2,215,108 shares of the company's stock valued at $358,980,000 after acquiring an additional 111,570 shares during the period. Finally, Tempus Wealth Planning LLC grew its stake in shares of Johnson & Johnson by 3.9% during the 3rd quarter. Tempus Wealth Planning LLC now owns 8,808 shares of the company's stock valued at $1,427,000 after acquiring an additional 328 shares during the period. Hedge funds and other institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Up 1.7 %

Shares of JNJ traded up $2.67 during midday trading on Friday, reaching $162.35. 12,540,171 shares of the stock were exchanged, compared to its average volume of 9,073,381. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $168.85. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. The company's 50 day moving average is $148.61 and its two-hundred day moving average is $155.89. The company has a market capitalization of $390.87 billion, a P/E ratio of 24.41, a PEG ratio of 2.53 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.99 by $0.05. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The business had revenue of $22.52 billion for the quarter, compared to the consensus estimate of $22.44 billion. During the same quarter in the prior year, the company earned $2.29 EPS. The business's revenue was up 5.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Tuesday, February 18th. Johnson & Johnson's payout ratio is currently 74.59%.

Insider Activity at Johnson & Johnson

In related news, EVP Timothy Schmid sold 403 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total transaction of $62,928.45. Following the sale, the executive vice president now owns 15,098 shares of the company's stock, valued at $2,357,552.70. This trade represents a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mark A. Weinberger acquired 1,000 shares of the company's stock in a transaction that occurred on Thursday, December 12th. The shares were bought at an average cost of $147.22 per share, for a total transaction of $147,220.00. Following the transaction, the director now owns 1,000 shares of the company's stock, valued at $147,220. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.16% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

JNJ has been the subject of a number of recent research reports. Royal Bank of Canada reiterated an "outperform" rating and set a $181.00 price objective on shares of Johnson & Johnson in a research note on Wednesday. Stifel Nicolaus cut their price objective on Johnson & Johnson from $170.00 to $155.00 and set a "hold" rating for the company in a research note on Thursday, January 23rd. Wolfe Research began coverage on Johnson & Johnson in a research note on Friday, November 15th. They set an "outperform" rating and a $190.00 price objective for the company. Citigroup dropped their price target on Johnson & Johnson from $185.00 to $175.00 and set a "buy" rating for the company in a research note on Wednesday, December 11th. Finally, Barclays upped their price target on Johnson & Johnson from $159.00 to $166.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 28th. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $170.67.

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.