Abacus Planning Group Inc. Sells 8,150 Shares of Johnson & Johnson $JNJ

Key Points

• Abacus Planning Group Inc. cut its stake in Johnson & Johnson by 81.3%, selling 8,150 shares during Q2, leaving it with 1,880 shares valued at approximately $287,000.
• Insider Jennifer L. Taubert sold 56,471 shares for over $10 million, representing a 24.08% decrease in her holdings, while only 0.16% of the stock is owned by other corporate insiders.
• Analysts have a consensus rating of "Moderate Buy" for Johnson & Johnson, with multiple firms increasing price targets for the stock, including JPMorgan Chase & Co. raising theirs to $200.

Abacus Planning Group Inc. reduced its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 81.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,880 shares of the company's stock after selling 8,150 shares during the period. Abacus Planning Group Inc.'s holdings in Johnson & Johnson were worth $287,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Highline Wealth Partners LLC raised its stake in shares of Johnson & Johnson by 51.8% during the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock valued at $42,000 after acquiring an additional 86 shares during the last quarter. Stone House Investment Management LLC acquired a new stake in Johnson & Johnson in the first quarter valued at $47,000. 1248 Management LLC bought a new position in Johnson & Johnson during the 1st quarter worth $48,000. von Borstel & Associates Inc. acquired a new position in Johnson & Johnson during the 1st quarter worth about $49,000. Finally, Capital A Wealth Management LLC bought a new stake in shares of Johnson & Johnson in the 4th quarter valued at about $50,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson stock in a transaction 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 completion of the sale, the executive vice president owned 178,013 shares of the company's stock, valued at approximately $31,652,491.53. This trade represents a 24.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on JNJ shares. Royal Bank Of Canada raised their price objective on Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. UBS Group boosted their price target on shares of Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Wall Street Zen upgraded shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. Morgan Stanley boosted their target price on shares of Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Finally, JPMorgan Chase & Co. increased their price target on Johnson & Johnson from $185.00 to $200.00 and gave the stock a "neutral" rating in a report on Tuesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $181.40.

Johnson & Johnson Stock Up 1.2%

Shares of NYSE JNJ opened at $176.35 on Wednesday. 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 firm has a market cap of $424.71 billion, a PE ratio of 18.86, a P/E/G ratio of 2.22 and a beta of 0.40. The company's fifty day simple moving average is $173.56 and its 200 day simple moving average is $161.79. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $181.16.

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

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th were issued a dividend of $1.30 per share. The ex-dividend date was Tuesday, August 26th. This represents a $5.20 annualized dividend and a dividend yield of 2.9%. Johnson & Johnson's payout ratio is currently 55.61%.

Johnson & Johnson Profile

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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