Advisors Capital Management LLC Boosts Holdings in Johnson & Johnson $JNJ

Key Points

• Advisors Capital Management LLC increased its stake in Johnson & Johnson by 10.9%, owning 442,801 shares valued at approximately $73.43 million following their recent purchase of 43,664 shares.
• Several hedge funds, including MBL Wealth LLC and Acadian Asset Management LLC, have also raised their stakes in Johnson & Johnson, reflecting growing institutional interest in the stock.
• Johnson & Johnson announced a quarterly dividend of $1.30 per share, delivering an annualized yield of 3.0%, with a dividend payout ratio of 55.61%.

Advisors Capital Management LLC grew its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 10.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 442,801 shares of the company's stock after buying an additional 43,664 shares during the period. Johnson & Johnson accounts for 1.1% of Advisors Capital Management LLC's investment portfolio, making the stock its 19th largest holding. Advisors Capital Management LLC's holdings in Johnson & Johnson were worth $73,434,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of JNJ. Nuveen LLC acquired a new position in shares of Johnson & Johnson in the 1st quarter valued at $1,369,188,000. GAMMA Investing LLC boosted its stake in Johnson & Johnson by 24,450.4% during the 1st quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company's stock worth $1,196,596,000 after purchasing an additional 7,185,977 shares during the period. Bank of New York Mellon Corp boosted its stake in Johnson & Johnson by 26.4% during the 1st quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock worth $3,844,580,000 after purchasing an additional 4,842,582 shares during the period. Pacer Advisors Inc. boosted its stake in Johnson & Johnson by 1,382.0% during the 1st quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company's stock worth $502,509,000 after purchasing an additional 2,825,626 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Johnson & Johnson during the 4th quarter worth $349,206,000. Institutional investors and hedge funds own 69.55% of the company's stock.

Johnson & Johnson Price Performance

Shares of JNJ traded down $0.40 during trading hours on Friday, reaching $178.10. The company had a trading volume of 7,220,047 shares, compared to its average volume of 7,548,205. The firm has a 50 day simple moving average of $170.81 and a 200-day simple moving average of $161.30. 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 price-to-earnings ratio of 19.05, a PEG ratio of 2.27 and a beta of 0.40. 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 results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.68 by $0.09. The business had revenue of $23.74 billion during the quarter, compared to the consensus estimate of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The business's revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.82 EPS. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. Research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

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

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Guggenheim reiterated a "neutral" rating and set a $167.00 price target (up previously from $164.00) on shares of Johnson & Johnson in a research note on Thursday, July 17th. Barclays increased their price target on shares of Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Bank of America increased their price target on shares of Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Citigroup increased their price target on shares of Johnson & Johnson from $185.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, August 21st. Finally, Royal Bank Of Canada raised their target price on shares of Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Two equities 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 company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $176.29.

Insider Activity

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction dated 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 transaction, the executive vice president owned 178,013 shares in the company, valued at $31,652,491.53. This trade represents a 24.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.16% of the stock is owned by corporate insiders.

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.