Atlantic Union Bankshares Corp Sells 1,893 Shares of Johnson & Johnson (NYSE:JNJ)

Atlantic Union Bankshares Corp reduced its position in shares of Johnson & Johnson (NYSE:JNJ) by 2.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 66,870 shares of the company’s stock after selling 1,893 shares during the period. Johnson & Johnson accounts for approximately 0.9% of Atlantic Union Bankshares Corp’s holdings, making the stock its 24th biggest position. Atlantic Union Bankshares Corp’s holdings in Johnson & Johnson were worth $10,578,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Keener Financial Planning LLC acquired a new position in shares of Johnson & Johnson in the 4th quarter valued at $40,000. WFA Asset Management Corp grew its holdings in shares of Johnson & Johnson by 61.4% in the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after purchasing an additional 97 shares during the last quarter. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Johnson & Johnson in the 4th quarter worth about $44,000. Disciplined Equity Management Inc. bought a new stake in shares of Johnson & Johnson in the 4th quarter worth about $45,000. Finally, Grayhawk Investment Strategies Inc. grew its holdings in shares of Johnson & Johnson by 528.6% in the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after purchasing an additional 259 shares during the last quarter. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Stock Performance

Shares of NYSE:JNJ opened at $146.16 on Friday. The company has a market capitalization of $351.76 billion, a price-to-earnings ratio of 9.11, a P/E/G ratio of 2.43 and a beta of 0.53. The firm’s 50 day simple moving average is $148.14 and its 200 day simple moving average is $154.07. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $175.97.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, topping the consensus estimate of $2.64 by $0.07. The firm had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the company posted $2.68 EPS. As a group, sell-side analysts forecast that Johnson & Johnson will post 10.62 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were issued a dividend of $1.24 per share. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend was Monday, May 20th. Johnson & Johnson’s dividend payout ratio (DPR) is 30.92%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Bank of America lowered their target price on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. The Goldman Sachs Group began coverage on shares of Johnson & Johnson in a report on Thursday, May 30th. They set a “neutral” rating and a $160.00 price objective on the stock. HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and increased their price objective for the stock from $169.00 to $170.00 in a report on Thursday, April 18th. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price objective on shares of Johnson & Johnson in a report on Monday, June 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a report on Thursday, June 20th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Johnson & Johnson currently has an average rating of “Hold” and a consensus target price of $174.07.

About Johnson & Johnson

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.