Ballentine Partners LLC Trims Position in Johnson & Johnson $JNJ

Key Points

• Ballentine Partners LLC reduced its stake in Johnson & Johnson by 12.4%, selling 7,313 shares and owning a total of 51,727 shares valued at approximately $7.9 million.
• Johnson & Johnson reported quarterly earnings of $2.77 per share, surpassing analysts' expectations of $2.68, with a revenue of $23.74 billion, marking a 5.8% year-over-year increase.
• The company announced a quarterly dividend of $1.30, resulting in a dividend yield of 2.9% and a payout ratio of 55.61% based on its earnings.

Ballentine Partners LLC lessened its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 12.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,727 shares of the company's stock after selling 7,313 shares during the period. Ballentine Partners LLC's holdings in Johnson & Johnson were worth $7,901,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its position in Johnson & Johnson by 13.9% during the 4th quarter. Brighton Jones LLC now owns 51,876 shares of the company's stock valued at $7,502,000 after purchasing an additional 6,332 shares during the period. Wood Tarver Financial Group LLC purchased a new position in Johnson & Johnson during the 4th quarter valued at about $174,000. Aegis Wealth Management LLC purchased a new position in Johnson & Johnson during the 4th quarter valued at about $490,000. Lighthouse Financial LLC purchased a new position in Johnson & Johnson during the 4th quarter valued at about $421,000. Finally, Campbell Deegan Wealth Management LLC purchased a new position in Johnson & Johnson during the 4th quarter valued at about $528,000. Hedge funds and other institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Performance

JNJ opened at $176.62 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. The firm has a fifty day moving average price of $173.80 and a 200 day moving average price of $161.90. The stock has a market cap of $425.35 billion, a P/E ratio of 18.89, a P/E/G ratio of 2.25 and a beta of 0.40. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $181.16.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping analysts' consensus estimates of $2.68 by $0.09. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The company had revenue of $23.74 billion during the quarter, compared to analysts' expectations of $22.85 billion. During the same period in the prior year, the business posted $2.82 earnings per share. The firm's revenue for the quarter was up 5.8% on a year-over-year basis. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. Equities research analysts anticipate 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 issued a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.9%. Johnson & Johnson's dividend payout ratio is currently 55.61%.

Insider Activity

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 owned 178,013 shares of the company's stock, valued at approximately $31,652,491.53. This represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.16% of the company's stock.

Analysts Set New Price Targets

JNJ has been the topic of a number of research reports. UBS Group raised 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. Barclays lifted their price objective on shares of Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Guggenheim raised shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $167.00 to $206.00 in a research report on Tuesday. The Goldman Sachs Group lifted their price objective on shares of Johnson & Johnson from $185.00 to $186.00 and gave the stock a "buy" rating in a research report on Friday, September 19th. Finally, Bank of America lifted their price objective on shares of Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $181.40.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.