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

Truist Financial Corp reduced its stake in shares of Johnson & Johnson (NYSE:JNJ) by 5.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,798,161 shares of the company’s stock after selling 146,827 shares during the quarter. Johnson & Johnson accounts for approximately 0.8% of Truist Financial Corp’s holdings, making the stock its 20th largest holding. Truist Financial Corp owned about 0.11% of Johnson & Johnson worth $463,152,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Merit Financial Group LLC raised its holdings in shares of Johnson & Johnson by 23.1% during the 2nd quarter. Merit Financial Group LLC now owns 93,463 shares of the company’s stock valued at $15,470,000 after buying an additional 17,565 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co grew its stake in Johnson & Johnson by 374.6% during the 2nd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 63,023 shares of the company’s stock valued at $10,432,000 after purchasing an additional 49,743 shares in the last quarter. Motive Wealth Advisors grew its stake in Johnson & Johnson by 20.4% during the 2nd quarter. Motive Wealth Advisors now owns 1,980 shares of the company’s stock valued at $328,000 after purchasing an additional 336 shares in the last quarter. Farmers & Merchants Investments Inc. grew its stake in Johnson & Johnson by 1.2% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 164,235 shares of the company’s stock valued at $27,184,000 after purchasing an additional 1,954 shares in the last quarter. Finally, FIDELIS iM LLC acquired a new stake in Johnson & Johnson during the 2nd quarter valued at approximately $207,000. 68.40% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Trading Down 2.3 %

NYSE:JNJ opened at $145.60 on Monday. Johnson & Johnson has a 12-month low of $144.95 and a 12-month high of $181.04. The firm has a market capitalization of $378.41 billion, a P/E ratio of 10.81, a P/E/G ratio of 2.94 and a beta of 0.55. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 0.88. The business has a 50 day simple moving average of $158.90 and a 200 day simple moving average of $161.94.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Tuesday, November 21st will be given a dividend of $1.19 per share. The ex-dividend date of this dividend is Monday, November 20th. This represents a $4.76 dividend on an annualized basis and a yield of 3.27%. Johnson & Johnson’s dividend payout ratio is currently 35.34%.

Analysts Set New Price Targets

A number of brokerages have weighed in on JNJ. JPMorgan Chase & Co. raised their price objective on Johnson & Johnson from $175.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, July 21st. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Raymond James lowered their price objective on Johnson & Johnson from $179.00 to $172.00 and set an “outperform” rating for the company in a research note on Wednesday, October 18th. TheStreet upgraded Johnson & Johnson from a “c+” rating to a “b+” rating in a research report on Monday, August 21st. Finally, Wells Fargo & Company decreased their target price on Johnson & Johnson from $195.00 to $186.00 and set an “overweight” rating for the company in a research report on Thursday, August 31st. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $169.19.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment provides skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR. CI:LABO, NEUTROGENA, and OGX brands; baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; TYLENOL acetaminophen products; SUDAFED cold, flu, and allergy products; BENADRYL and ZYRTEC allergy products; MOTRIN IB ibuprofen products; NICORETTE smoking cessation products; and PEPCID acid reflux products.