Guardian Sells Nearly Half of J&J Stake Amid Market Rally

Guardian Investment Management has significantly reduced its holdings in Johnson & Johnson (NYSE:JNJ), cutting its stake by 53% during the second quarter. The firm sold 8,922 shares of the company's stock, leaving it with a holding of 7,907 shares.

The sale is a notable move for Guardian Investment Management, which has significant exposure to J&J through its holdings. According to the SEC filing, Johnson & Johnson accounts for just over 1.3% of the firm's overall portfolio, making it its 24th largest position.

Guardian Investment Management's stake in JNJ is worth approximately $2 million as of its most recent SEC filing. The sale comes amidst a period of significant market activity surrounding J&J, which has recently reported strong earnings results and has seen several analysts raise their price targets for the stock.