Adage Capital Partners GP L.L.C. Increases Position in Johnson & Johnson $JNJ

Key Points

• Adage Capital Partners GP L.L.C. increased its stake in Johnson & Johnson by 36.8%, now owning 1,278,427 shares valued at approximately $212 million.
• In Q1, multiple institutional investors, including Vanguard and Bank of New York Mellon, also raised their stakes in Johnson & Johnson, resulting in hedge funds holding 69.55% of the company's stock.
• Johnson & Johnson recently announced a quarterly dividend of $1.30 per share, equating to an annualized yield of 2.9%, with a payout ratio of 55.61%.

Adage Capital Partners GP L.L.C. boosted its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 36.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,278,427 shares of the company's stock after buying an additional 343,625 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.05% of Johnson & Johnson worth $212,014,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in JNJ. Brighton Jones LLC raised its position in Johnson & Johnson by 13.9% during the fourth quarter. Brighton Jones LLC now owns 51,876 shares of the company's stock valued at $7,502,000 after purchasing an additional 6,332 shares during the period. Hudson Value Partners LLC lifted its stake in shares of Johnson & Johnson by 2.5% during the 4th quarter. Hudson Value Partners LLC now owns 41,403 shares of the company's stock worth $5,648,000 after acquiring an additional 1,022 shares during the last quarter. Algert Global LLC lifted its position in shares of Johnson & Johnson by 462.6% during the fourth quarter. Algert Global LLC now owns 25,046 shares of the company's stock worth $3,622,000 after purchasing an additional 20,594 shares during the last quarter. Chapman Financial Group LLC purchased a new stake in shares of Johnson & Johnson during the fourth quarter valued at $1,226,000. Finally, Castlekeep Investment Advisors LLC purchased a new stake in shares of Johnson & Johnson during the fourth quarter valued at $164,120,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

JNJ has been the subject of a number of research analyst reports. Morgan Stanley lifted their price objective 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. Leerink Partners downgraded shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $169.00 to $153.00 in a research note on Tuesday, May 13th. Citigroup raised their price objective on Johnson & Johnson from $185.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, August 21st. UBS Group raised their price objective on Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Finally, Barclays raised their price objective on Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $176.29.

Johnson & Johnson Stock Up 0.4%

JNJ traded up $0.64 during trading on Thursday, hitting $178.64. The stock had a trading volume of 7,798,607 shares, compared to its average volume of 8,965,323. The company has a market capitalization of $430.23 billion, a PE ratio of 19.11, a PEG ratio of 2.26 and a beta of 0.40. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $181.16. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01. The stock has a 50 day simple moving average of $167.53 and a two-hundred day simple moving average of $160.45.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its earnings results 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. 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 during the quarter, compared to the consensus estimate of $22.85 billion. During the same period last year, the firm earned $2.82 earnings per share. Johnson & Johnson's revenue was up 5.8% compared to the same quarter last year. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. On average, research analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a yield of 2.9%. Johnson & Johnson's payout ratio is currently 55.61%.

Johnson & Johnson Company 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.