Baron Wealth Management LLC Sells 2,279 Shares of Johnson & Johnson $JNJ

Key Points

• Baron Wealth Management LLC reduced its holdings in Johnson & Johnson by 17.3% in the second quarter, now owning 10,878 shares worth approximately $1.66 million.
• Johnson & Johnson's quarterly earnings surpassed estimates with $2.77 earnings per share, driven by $23.74 billion in revenue, reflecting a 5.8% year-over-year increase.
• The company recently announced a quarterly dividend of $1.30 per share, translating to an annualized yield of 2.9%, with a payout ratio of 55.61%.

Baron Wealth Management LLC decreased its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 17.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,878 shares of the company's stock after selling 2,279 shares during the quarter. Johnson & Johnson accounts for approximately 0.6% of Baron Wealth Management LLC's portfolio, making the stock its 18th largest position. Baron Wealth Management LLC's holdings in Johnson & Johnson were worth $1,662,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of JNJ. Brighton Jones LLC grew its holdings in shares of Johnson & Johnson by 13.9% during the fourth quarter. Brighton Jones LLC now owns 51,876 shares of the company's stock worth $7,502,000 after purchasing an additional 6,332 shares in the last quarter. Hudson Value Partners LLC boosted its stake in Johnson & Johnson by 2.5% in the fourth quarter. Hudson Value Partners LLC now owns 41,403 shares of the company's stock worth $5,648,000 after buying an additional 1,022 shares in the last quarter. Two Sigma Investments LP purchased a new stake in Johnson & Johnson in the fourth quarter worth approximately $9,222,000. Two Sigma Advisers LP boosted its stake in Johnson & Johnson by 48.1% in the fourth quarter. Two Sigma Advisers LP now owns 189,343 shares of the company's stock worth $27,383,000 after buying an additional 61,493 shares in the last quarter. Finally, Twinbeech Capital LP boosted its stake in Johnson & Johnson by 235.7% in the fourth quarter. Twinbeech Capital LP now owns 108,857 shares of the company's stock worth $15,743,000 after buying an additional 76,428 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company's stock.

Insider Activity at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $177.81, for a total value of $10,041,108.51. Following the sale, the executive vice president directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.16% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Piper Sandler reaffirmed an "overweight" rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Citigroup upped their target price on Johnson & Johnson from $185.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, August 21st. Erste Group Bank raised Johnson & Johnson from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. boosted their price objective on Johnson & Johnson from $185.00 to $200.00 and gave the company a "neutral" rating in a research report on Tuesday. Finally, Wall Street Zen upgraded Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $177.87.

Johnson & Johnson Trading Up 1.0%

Shares of Johnson & Johnson stock traded up $1.81 during midday trading on Friday, reaching $175.97. 25,617,065 shares of the company's stock traded hands, compared to its average volume of 6,995,150. 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 cap of $423.80 billion, a PE ratio of 18.82, a price-to-earnings-growth ratio of 2.22 and a beta of 0.40. The stock has a 50 day moving average of $172.80 and a 200-day moving average of $161.69. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $181.16.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating analysts' consensus estimates 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%.The firm's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.82 earnings per share. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. As a group, equities analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Tuesday, August 26th. Johnson & Johnson's dividend payout ratio is presently 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.