Adams Asset Advisors LLC Trims Stock Position in Johnson & Johnson $JNJ

Key Points

• Adams Asset Advisors LLC significantly reduced its stake in Johnson & Johnson by 59.3%, holding 2,347 shares worth $359,000 at the end of the recent reporting period.
• Johnson & Johnson's recent quarterly earnings exceeded expectations, reporting $2.77 EPS against a consensus estimate of $2.68, with a total revenue of $23.74 billion.
• The company announced a quarterly dividend of $1.30 per share, resulting in an annualized dividend yield of 2.9% for shareholders.

Adams Asset Advisors LLC cut its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 59.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,347 shares of the company's stock after selling 3,415 shares during the quarter. Adams Asset Advisors LLC's holdings in Johnson & Johnson were worth $359,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Elios Financial Group Inc. increased its holdings in Johnson & Johnson by 1.5% during the first quarter. Elios Financial Group Inc. now owns 4,496 shares of the company's stock valued at $746,000 after buying an additional 66 shares during the period. Atlantic Family Wealth LLC increased its holdings in Johnson & Johnson by 4.4% during the first quarter. Atlantic Family Wealth LLC now owns 1,603 shares of the company's stock valued at $266,000 after buying an additional 67 shares during the period. MBA Advisors LLC increased its holdings in Johnson & Johnson by 1.2% during the first quarter. MBA Advisors LLC now owns 5,553 shares of the company's stock valued at $921,000 after buying an additional 68 shares during the period. Sovereign Financial Group Inc. increased its holdings in Johnson & Johnson by 1.8% during the first quarter. Sovereign Financial Group Inc. now owns 3,928 shares of the company's stock valued at $651,000 after buying an additional 69 shares during the period. Finally, Nabity Jensen Investment Management Inc increased its holdings in Johnson & Johnson by 1.5% during the first quarter. Nabity Jensen Investment Management Inc now owns 4,624 shares of the company's stock valued at $767,000 after buying an additional 69 shares during the period. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Trading Down 0.2%

NYSE:JNJ opened at $178.10 on Monday. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $181.16. The firm has a fifty day simple moving average of $170.81 and a 200-day simple moving average of $161.27. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $428.93 billion, a P/E ratio of 19.05, a PEG ratio of 2.27 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 EPS 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 business had revenue of $23.74 billion during the quarter, compared to the consensus estimate of $22.85 billion. During the same period in the previous year, the firm posted $2.82 earnings per share. The business's revenue for the quarter 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, equities research analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

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

Insider Activity at Johnson & Johnson

In other 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 transaction of $10,041,108.51. Following the completion of the sale, the executive vice president directly owned 178,013 shares in the company, valued at approximately $31,652,491.53. The trade was a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.16% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Bank of America lifted their price objective on shares of Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Morgan Stanley raised their target price on shares of Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Barclays raised their target price on shares of Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Guggenheim restated a "neutral" rating and issued a $167.00 target price (up from $164.00) on shares of Johnson & Johnson in a research note on Thursday, July 17th. Finally, Piper Sandler restated an "overweight" rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Two research 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price 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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