JNJ Shareholder Wedge Capital Cuts Stake by 96.7%

Wedge Capital Management L L P NC has reduced its stake in Johnson & Johnson (NYSE:JNJ) by a significant margin. According to a recent SEC filing, the firm sold 124,278 shares of JNJ during the second quarter, leaving it with only 4,295 shares. This represents a decline of 96.7% in Wedge Capital's holdings.

The value of Wedge Capital's remaining stake in Johnson & Johnson is approximately $1.09 million. Other institutional investors have also made changes to their positions in JNJ during the fourth quarter, with some buying new stakes and others increasing or decreasing their holdings.

Johnson & Johnson itself has reported strong earnings results for its latest quarter, exceeding analysts' expectations for both earnings and revenue. The company's stock price opened at $260.44 on Friday, and it has a market capitalization of over $627 billion.