Trustmark Bank Trust Department has decreased its stake in Johnson & Johnson (NYSE: JNJ) by 34.0% during the second quarter of 2023, according to data from Holdings Channel. After selling 2,652 shares, the bank now holds 5,145 shares valued at approximately $786,000.
Several other institutional investors have also adjusted their holdings in Johnson & Johnson recently. For instance, Brighton Jones LLC raised its stake by 13.9% in the fourth quarter, bringing its total to 51,876 shares worth $7,502,000 after acquiring an additional 6,332 shares.
Similarly, Smart Money Group LLC increased its position by 6.5% in the first quarter, now owning 6,687 shares valued at $1,109,000. United Bank made a significant move, boosting its stake by 110.7% to 9,279 shares worth $1,539,000 after purchasing 4,876 shares.
In a notable increase, OVERSEA CHINESE BANKING Corp Ltd escalated its holdings by 330.2%, now holding 21,017 shares valued at $3,449,000. Banco Santander S.A. also enhanced its position by 44.7%, owning 59,023 shares worth $9,788,000 after acquiring an additional 18,220 shares. Collectively, institutional investors own 69.55% of the company’s stock.
Executive Activity and Stock Performance
In related developments, Jennifer L. Taubert, Executive Vice President of Johnson & Johnson, sold 56,471 shares on September 4, 2023, at an average price of $177.81. This transaction totaled approximately $10,041,108.51. Following this sale, Taubert now retains 178,013 shares valued at about $31,652,491.53, reflecting a 24.08% reduction in her ownership.
On August 30, 2023, Johnson & Johnson released its quarterly earnings, reporting earnings per share of $2.26 for the quarter. The company achieved a net margin of 27.26% and a return on equity of 32.73%, with revenues totaling $24.02 billion for the period. Analysts anticipate that Johnson & Johnson will post earnings per share of 10.58 for the current fiscal year.
Dividend Announcement and Future Outlook
Johnson & Johnson has announced a quarterly dividend of $1.30 per share, scheduled for payment on December 9, 2023. Shareholders of record on November 25, 2023, will receive this dividend, leading to an annualized dividend of $5.20 and a dividend yield of 2.5%. The company’s dividend payout ratio currently stands at 50.19%.
As of the latest trading session, Johnson & Johnson’s shares opened at $206.89. The firm has shown impressive stock performance, with a fifty-day moving average of $191.33 and a 200-day moving average of $173.72. The company boasts a market capitalization of $498.46 billion, a price-to-earnings ratio of 19.97, and a beta of 0.38. Over the past year, the stock has fluctuated between a low of $140.68 and a high of $207.81.
Johnson & Johnson, a prominent holding company, is involved in the research, development, manufacture, and sale of healthcare products, operating through its Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on areas such as immunology, infectious diseases, neuroscience, oncology, cardiovascular, metabolism, and pulmonary hypertension.
