Louisbourg Cuts Stake in Johnson & Johnson by 52.5% Amid Earnings Beat
Louisbourg Investments Inc., a firm that manages investments on behalf of its clients, has significantly reduced its stake in Johnson & Johnson (NYSE:JNJ) over the past quarter. In its most recent filing with the Securities & Exchange Commission, Louisbourg Investments revealed it had decreased its holdings by 52.5% in the second quarter.
The firm sold a total of 11,030 shares during this period, leaving it with 9,986 shares worth approximately $2.33 million at the end of the quarter. Despite this significant reduction, Louisbourg Investments still holds a substantial stake in Johnson & Johnson's stock.
Johnson & Johnson, a multinational healthcare company, has seen its share price fluctuate over the past year, reaching a high of $274.90 and a low of $173.33. In its most recent quarterly earnings report, the company beat analysts' expectations with $2.90 earnings per share (EPS), compared to estimates of $2.84.