Armstrong Henry H Associates Inc. Trims Position in Johnson & Johnson $JNJ

Key Points

• Armstrong Henry H Associates Inc. reduced its stake in Johnson & Johnson by 4.5%, bringing its total holdings to 330,479 shares valued at approximately $50.48 million.
• Despite the trimmed position, Johnson & Johnson remains the 5th largest position in Armstrong's portfolio, comprising about 4.8% of its total investments.
• Analysts have upgraded Johnson & Johnson's stock ratings, with a consensus rating of "Moderate Buy" and an average price target of $176.29.

Armstrong Henry H Associates Inc. trimmed its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 4.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 330,479 shares of the company's stock after selling 15,633 shares during the period. Johnson & Johnson comprises about 4.8% of Armstrong Henry H Associates Inc.'s portfolio, making the stock its 5th largest position. Armstrong Henry H Associates Inc.'s holdings in Johnson & Johnson were worth $50,481,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of JNJ. Highline Wealth Partners LLC boosted its holdings in shares of Johnson & Johnson by 51.8% during the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock worth $42,000 after buying an additional 86 shares during the period. Stone House Investment Management LLC acquired a new position in Johnson & Johnson during the 1st quarter worth approximately $47,000. 1248 Management LLC acquired a new position in Johnson & Johnson in the 1st quarter valued at approximately $48,000. von Borstel & Associates Inc. acquired a new position in Johnson & Johnson in the 1st quarter valued at approximately $49,000. Finally, Capital A Wealth Management LLC bought a new stake in shares of Johnson & Johnson in the 4th quarter valued at $50,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Erste Group Bank upgraded shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Piper Sandler reaffirmed an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. UBS Group lifted their target price on shares of Johnson & Johnson from $180.00 to $190.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Royal Bank Of Canada boosted their price objective on shares of Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Finally, Guggenheim reaffirmed 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. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $176.29.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $178.10 on Friday. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $181.16. The stock has a market capitalization of $428.93 billion, a PE ratio of 19.05, a price-to-earnings-growth ratio of 2.27 and a beta of 0.40. The firm's 50 day moving average price is $170.81 and its 200-day moving average price is $161.29. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50.

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

Johnson & Johnson Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Tuesday, August 26th. Johnson & Johnson's payout ratio is currently 55.61%.

Insiders Place Their Bets

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the company's 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 sale, the executive vice president directly owned 178,013 shares of the company's stock, valued at $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 is available through the SEC website. 0.16% of the stock is currently owned by company insiders.

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.

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