Belpointe Asset Management LLC Acquires 8,477 Shares of Johnson & Johnson $JNJ

Key Points

• Belpointe Asset Management LLC increased its stake in Johnson & Johnson (NYSE: JNJ) by 35.7%, acquiring an additional 8,477 shares during the first quarter, bringing its total holdings to 32,189 shares valued at approximately $5.34 million.
• Several institutional investors, including Nuveen LLC and Bank of New York Mellon Corp, also expanded their positions in Johnson & Johnson, contributing to institutional ownership of 69.55%.
• Johnson & Johnson recently declared a quarterly dividend of $1.30 per share, with a resulting annual dividend yield of 2.9%.

Belpointe Asset Management LLC grew its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 35.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,189 shares of the company's stock after purchasing an additional 8,477 shares during the period. Belpointe Asset Management LLC's holdings in Johnson & Johnson were worth $5,338,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of JNJ. Nuveen LLC bought a new stake in shares of Johnson & Johnson in the first quarter worth $1,369,188,000. GAMMA Investing LLC grew its holdings in shares of Johnson & Johnson by 24,450.4% in the first quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company's stock worth $1,196,596,000 after acquiring an additional 7,185,977 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Johnson & Johnson by 26.4% in the first quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock worth $3,844,580,000 after acquiring an additional 4,842,582 shares during the period. Pacer Advisors Inc. grew its holdings in shares of Johnson & Johnson by 1,382.0% in the first quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company's stock worth $502,509,000 after acquiring an additional 2,825,626 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Johnson & Johnson in the fourth quarter worth $349,206,000. Institutional investors own 69.55% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Guggenheim reiterated a "neutral" rating and set a $167.00 target price (up from $164.00) on shares of Johnson & Johnson in a research report on Thursday, July 17th. UBS Group lifted their target price on Johnson & Johnson from $180.00 to $190.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Wall Street Zen downgraded Johnson & Johnson from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Barclays lifted their target price on Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Finally, Leerink Partnrs downgraded Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $176.29.

Insider Activity at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the company's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.16% of the company's stock.

Johnson & Johnson Trading Down 0.6%

Shares of NYSE JNJ opened at $177.12 on Wednesday. The business's 50 day moving average is $169.51 and its two-hundred day moving average is $161.02. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $181.16. The stock has a market capitalization of $426.57 billion, a P/E ratio of 18.94, a PEG ratio of 2.27 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.09. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%.The company had revenue of $23.74 billion for the quarter, compared to analysts' expectations of $22.85 billion. During the same period in the previous year, the firm 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. As a group, research analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The firm 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. 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%.

Johnson & Johnson 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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