2,696 Shares in Johnson & Johnson $JNJ Purchased by Knightsbridge Asset Management LLC

Key Points

• Knightsbridge Asset Management LLC acquired 2,696 shares of Johnson & Johnson, valued at approximately $447,000, marking a new position for the firm in Q1.
• Johnson & Johnson reported $2.77 EPS for the last quarter, exceeding expectations and showing a 5.8% yearly revenue growth.
• The company declared a quarterly dividend of $1.30 per share, which equates to a yield of 2.9%, set to be paid on September 9th.

Knightsbridge Asset Management LLC acquired a new position in Johnson & Johnson (NYSE:JNJ - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,696 shares of the company's stock, valued at approximately $447,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Teewinot Capital Advisers L.L.C. purchased a new stake in Johnson & Johnson in the first quarter worth about $35,166,000. UniSuper Management Pty Ltd lifted its stake in Johnson & Johnson by 1.8% in the first quarter. UniSuper Management Pty Ltd now owns 416,098 shares of the company's stock worth $69,006,000 after acquiring an additional 7,326 shares during the period. Scientech Research LLC bought a new position in Johnson & Johnson in the first quarter worth about $954,000. Richwood Investment Advisors LLC raised its holdings in Johnson & Johnson by 6.6% in the first quarter. Richwood Investment Advisors LLC now owns 3,889 shares of the company's stock worth $645,000 after purchasing an additional 241 shares in the last quarter. Finally, Rise Advisors LLC raised its holdings in Johnson & Johnson by 44.1% in the first quarter. Rise Advisors LLC now owns 4,465 shares of the company's stock worth $740,000 after purchasing an additional 1,367 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total value of $10,041,108.51. Following the transaction, the executive vice president owned 178,013 shares in the company, valued at approximately $31,652,491.53. This represents a 24.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.16% of the company's stock.

Johnson & Johnson Stock Performance

JNJ opened at $178.20 on Friday. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $181.16. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. The company has a market cap of $429.15 billion, a P/E ratio of 19.06, a price-to-earnings-growth ratio of 2.27 and a beta of 0.40. The firm's 50-day moving average price is $168.57 and its 200-day moving average price is $160.78.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.09. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The company had revenue of $23.74 billion for the quarter, compared to the consensus estimate of $22.85 billion. During the same quarter in the prior year, the company earned $2.82 EPS. Johnson & Johnson's quarterly revenue was up 5.8% on a year-over-year basis. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. As a group, equities analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 2.9%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio is 55.61%.

Wall Street Analyst Weigh In

JNJ has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Johnson & Johnson from a "buy" rating to a "hold" rating in a report on Friday. Bank of America boosted their target price on shares of Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Leerink Partners downgraded shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $169.00 to $153.00 in a report on Tuesday, May 13th. Barclays boosted their target price on shares of Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Finally, Citigroup boosted their target price on shares of Johnson & Johnson from $185.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $176.29.

About Johnson & Johnson

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.

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