Banque Pictet & Cie SA Decreases Stake in Johnson & Johnson $JNJ

Key Points

• Banque Pictet & Cie SA reduced its stake in Johnson & Johnson by 11.6%, now holding 181,563 shares valued at approximately $27.7 million.
• Several institutional investors, including Brighton Jones LLC and Versant Capital Management Inc, have recently increased their positions in Johnson & Johnson, indicating strong investor interest.
• Research analysts have set new price targets for Johnson & Johnson, with Citigroup and JPMorgan both raising their target prices to $200, reflecting a consensus rating of "Moderate Buy" for the stock.

Banque Pictet & Cie SA reduced its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 11.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 181,563 shares of the company's stock after selling 23,770 shares during the period. Banque Pictet & Cie SA's holdings in Johnson & Johnson were worth $27,734,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in JNJ. Brighton Jones LLC boosted its position in shares of Johnson & Johnson by 13.9% in the 4th quarter. Brighton Jones LLC now owns 51,876 shares of the company's stock worth $7,502,000 after buying an additional 6,332 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of Johnson & Johnson by 80.1% in the 1st quarter. Versant Capital Management Inc now owns 8,425 shares of the company's stock worth $1,397,000 after buying an additional 3,747 shares in the last quarter. Legacy Private Trust Co. boosted its position in shares of Johnson & Johnson by 3.4% in the 1st quarter. Legacy Private Trust Co. now owns 40,518 shares of the company's stock worth $6,720,000 after buying an additional 1,345 shares in the last quarter. Baring Financial LLC boosted its position in shares of Johnson & Johnson by 2.9% in the 1st quarter. Baring Financial LLC now owns 5,784 shares of the company's stock worth $959,000 after buying an additional 163 shares in the last quarter. Finally, Agate Pass Investment Management LLC boosted its position in shares of Johnson & Johnson by 24.0% in the 1st quarter. Agate Pass Investment Management LLC now owns 29,554 shares of the company's stock worth $4,901,000 after buying an additional 5,711 shares in the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on JNJ shares. The Goldman Sachs Group boosted their target price on shares of Johnson & Johnson from $185.00 to $186.00 and gave the company a "buy" rating in a research note on Friday, September 19th. Citigroup boosted their target price on shares of Johnson & Johnson from $185.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. JPMorgan Chase & Co. boosted their target price on shares of Johnson & Johnson from $185.00 to $200.00 and gave the company a "neutral" rating in a research note on Tuesday, September 16th. Erste Group Bank raised shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Finally, Morgan Stanley boosted their target price on shares of Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Johnson & Johnson has a consensus rating of "Moderate Buy" and an average price target of $181.40.

Insider Transactions at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were 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 of the company's stock, valued at approximately $31,652,491.53. This represents a 24.08% decrease in their position. The transaction was disclosed in a document filed 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 Trading Up 1.1%

NYSE JNJ opened at $179.69 on Friday. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $181.16. The company has a 50-day moving average of $174.41 and a 200-day moving average of $162.06. 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 company has a market cap of $432.75 billion, a P/E ratio of 19.22, a P/E/G ratio of 2.26 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating 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 the consensus estimate of $22.85 billion. During the same quarter in the prior year, the company posted $2.82 EPS. The company's quarterly revenue 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. As a group, equities analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently announced 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 2.9%. The ex-dividend date of this dividend was Tuesday, August 26th. Johnson & Johnson's dividend payout ratio is 55.61%.

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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