Ameriprise Financial Inc. Cuts Stake in Johnson & Johnson $JNJ

Key Points

• Ameriprise Financial Inc. reduced its stake in Johnson & Johnson by 1.2% in the first quarter, holding 13,282,590 shares worth approximately $2.2 billion.
• Johnson & Johnson reported a quarterly EPS of $2.77, exceeding expectations, with revenue of $23.74 billion, reflecting a 5.8% year-over-year increase.
• The company has declared a quarterly dividend of $1.30 per share, resulting in an annualized dividend yield of 2.9%.

Ameriprise Financial Inc. lessened its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 1.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,282,590 shares of the company's stock after selling 155,255 shares during the quarter. Johnson & Johnson accounts for 0.6% of Ameriprise Financial Inc.'s investment portfolio, making the stock its 21st largest position. Ameriprise Financial Inc. owned approximately 0.55% of Johnson & Johnson worth $2,203,324,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Elios Financial Group Inc. increased its holdings in shares of Johnson & Johnson by 1.5% in the 1st quarter. Elios Financial Group Inc. now owns 4,496 shares of the company's stock valued at $746,000 after purchasing an additional 66 shares in the last quarter. Atlantic Family Wealth LLC increased its holdings in shares of Johnson & Johnson by 4.4% in the 1st quarter. Atlantic Family Wealth LLC now owns 1,603 shares of the company's stock valued at $266,000 after purchasing an additional 67 shares in the last quarter. MBA Advisors LLC increased its holdings in shares of Johnson & Johnson by 1.2% in the 1st quarter. MBA Advisors LLC now owns 5,553 shares of the company's stock valued at $921,000 after purchasing an additional 68 shares in the last quarter. Sovereign Financial Group Inc. increased its holdings in Johnson & Johnson by 1.8% during the 1st quarter. Sovereign Financial Group Inc. now owns 3,928 shares of the company's stock valued at $651,000 after acquiring an additional 69 shares in the last quarter. Finally, Nabity Jensen Investment Management Inc raised its position 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 worth $767,000 after acquiring an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company's stock.

Johnson & Johnson Trading Up 0.4%

Shares of JNJ opened at $178.5890 on Thursday. The stock has a fifty day moving average of $162.59 and a two-hundred day moving average of $158.87. 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 company has a market capitalization of $430.10 billion, a PE ratio of 19.10, a price-to-earnings-growth ratio of 2.26 and a beta of 0.41. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $180.61.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly 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. The company had revenue of $23.74 billion during 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%.Johnson & Johnson's revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.82 EPS. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. As a group, analysts forecast that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be paid 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 dividend payout ratio (DPR) is currently 55.61%.

Analysts Set New Price Targets

JNJ has been the topic of several recent research reports. UBS Group upped their price target on shares of Johnson & Johnson from $180.00 to $190.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Barclays upped their price target on shares of Johnson & Johnson from $165.00 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 reduced their price target for the company from $169.00 to $153.00 in a report on Tuesday, May 13th. Piper Sandler reaffirmed an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Finally, Bank of America upped their price target 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. Two research 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. Based on data from MarketBeat.com, Johnson & Johnson presently has an average rating of "Moderate Buy" and an average price target of $174.50.

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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