Guardian Sells Johnson & Johnson Stake Amid Rising Revenue

Guardian Investment Management has reduced its stake in Johnson & Johnson by selling 8,922 shares during the second quarter. This cut its holdings in the company's stock by 53%.

The firm now owns 7,907 shares of Johnson & Johnson's stock, which accounts for approximately 1.3% of Guardian Investment Management's total portfolio. The value of these shares is around $2 million as per the latest SEC filing.

Johnson & Johnson recently reported a 6.6% increase in revenue to $25.31 billion, exceeding analysts' expectations. The company also announced a quarterly dividend of $1.34 per share, representing an annualized yield of 2.1%. Analysts have predicted that the business will post $11.61 earnings per share for the current fiscal year.