Merit Financial Group Cuts Johnson & Johnson Stake Amid Strong Earnings

Merit Financial Group LLC has significant holdings in Johnson & Johnson (JNJ), reducing its stake by 1.8% in the second quarter, according to a recent SEC filing.

The fund now owns 209,661 shares of JNJ's stock worth $53.247 million, down from the previous period's sales of 3,863 shares.

Johnson & Johnson's quarterly earnings report on July 15th exceeded expectations with $2.90 EPS and revenue of $25.31 billion, up 6.6% year-over-year.