Ameriflex Group Inc. Trims Position in Johnson & Johnson $JNJ

Key Points

• Ameriflex Group Inc. reduced its holdings in Johnson & Johnson by 25.3% during the 2nd quarter, owning 5,228 shares worth $795,000 after selling 1,769 shares.
• Several hedge funds increased their stakes in Johnson & Johnson, with Highline Wealth Partners LLC growing their investment by 51.8% in the first quarter.
• Analysts have recently raised their price targets for Johnson & Johnson, with Bank of America setting their target at $198.00 and Goldman Sachs at $186.00, indicating a positive outlook for the stock.

Ameriflex Group Inc. cut its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 25.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,228 shares of the company's stock after selling 1,769 shares during the period. Ameriflex Group Inc.'s holdings in Johnson & Johnson were worth $795,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in JNJ. Highline Wealth Partners LLC grew its stake in Johnson & Johnson by 51.8% in the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock worth $42,000 after purchasing an additional 86 shares during the period. Stone House Investment Management LLC purchased a new stake in Johnson & Johnson in the first quarter worth $47,000. 1248 Management LLC purchased a new stake in Johnson & Johnson in the first quarter worth $48,000. von Borstel & Associates Inc. purchased a new stake in Johnson & Johnson in the first quarter worth $49,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Johnson & Johnson in the first quarter worth $52,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Bank of America upped their price target on Johnson & Johnson from $175.00 to $198.00 and gave the stock a "neutral" rating in a research note on Friday. Barclays boosted their target price on Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Weiss Ratings reissued a "hold (c+)" rating on shares of Johnson & Johnson in a report on Saturday, September 27th. The Goldman Sachs Group boosted their target price on Johnson & Johnson from $185.00 to $186.00 and gave the stock a "buy" rating in a report on Friday, September 19th. Finally, Wall Street Zen raised Johnson & Johnson from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $188.88.

Johnson & Johnson Trading Up 1.4%

Shares of NYSE:JNJ opened at $188.51 on Monday. The company has a market cap of $453.98 billion, a P/E ratio of 20.16, a PEG ratio of 2.40 and a beta of 0.40. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $189.78. The stock's fifty day moving average price is $176.18 and its 200-day moving average price is $162.83.

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 firm had revenue of $23.74 billion for the quarter, compared to the consensus estimate of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%.The company's quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.82 earnings per share. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. Sell-side analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Tuesday, August 26th. Johnson & Johnson's dividend payout ratio is 55.61%.

Insider Buying and Selling

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the company's stock in a transaction on Thursday, September 4th. The stock was 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 owned 178,013 shares in the company, valued at approximately $31,652,491.53. This represents a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.16% of the company's stock.

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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