Berkshire Bank Has $4.75 Million Stock Position in Johnson & Johnson $JNJ

Key Points

• Berkshire Bank increased its stake in Johnson & Johnson by 22.5%, now owning 31,088 shares valued at approximately $4.75 million as of the latest SEC filing.
• Johnson & Johnson reported $2.77 earnings per share for the last quarter, exceeding analyst estimates of $2.68, and had a revenue of $23.74 billion, surpassing expectations as well.
• The company recently declared a quarterly dividend of $1.30 per share, reflecting a 2.9% yield, with a dividend payout ratio of 55.61%.

Berkshire Bank boosted its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 22.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,088 shares of the company's stock after purchasing an additional 5,711 shares during the quarter. Johnson & Johnson comprises approximately 1.1% of Berkshire Bank's holdings, making the stock its 22nd largest position. Berkshire Bank's holdings in Johnson & Johnson were worth $4,749,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in JNJ. Elios Financial Group Inc. lifted its stake in shares of Johnson & Johnson by 1.5% in the first quarter. Elios Financial Group Inc. now owns 4,496 shares of the company's stock valued at $746,000 after buying an additional 66 shares during the period. Atlantic Family Wealth LLC lifted its stake in shares of Johnson & Johnson by 4.4% in the first quarter. Atlantic Family Wealth LLC now owns 1,603 shares of the company's stock valued at $266,000 after buying an additional 67 shares during the period. MBA Advisors LLC lifted its stake in shares of Johnson & Johnson by 1.2% in the first quarter. MBA Advisors LLC now owns 5,553 shares of the company's stock valued at $921,000 after buying an additional 68 shares during the period. Sovereign Financial Group Inc. lifted its stake in shares of Johnson & Johnson by 1.8% in the first quarter. Sovereign Financial Group Inc. now owns 3,928 shares of the company's stock valued at $651,000 after buying an additional 69 shares during the period. Finally, Nabity Jensen Investment Management Inc lifted its stake in shares of Johnson & Johnson by 1.5% in the first quarter. Nabity Jensen Investment Management Inc now owns 4,624 shares of the company's stock valued at $767,000 after buying an additional 69 shares during the period. Institutional investors own 69.55% of the company's stock.

Johnson & Johnson Trading Up 1.0%

JNJ stock traded up $1.81 during trading on Friday, hitting $175.97. The company had a trading volume of 25,617,065 shares, compared to its average volume of 6,995,150. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average price of $172.80 and a 200-day moving average price of $161.69. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $181.16. The stock has a market cap of $423.80 billion, a price-to-earnings ratio of 18.82, a PEG ratio of 2.22 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 earnings per share for the quarter, topping 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 during the quarter, compared to analysts' expectations of $22.85 billion. During the same quarter in the previous year, the company posted $2.82 EPS. Johnson & Johnson's revenue 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, analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Tuesday, August 26th. Johnson & Johnson's payout ratio is currently 55.61%.

Insider Buying and Selling

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson stock in a transaction 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. The trade was a 24.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.16% of the company's stock.

Wall Street Analysts Forecast Growth

JNJ has been the subject of several research reports. Erste Group Bank upgraded shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Wall Street Zen upgraded shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Guggenheim restated a "neutral" rating and set a $167.00 price target (up previously from $164.00) on shares of Johnson & Johnson in a research note on Thursday, July 17th. JPMorgan Chase & Co. raised their price target on shares of Johnson & Johnson from $185.00 to $200.00 and gave the stock a "neutral" rating in a research note on Tuesday. Finally, Piper Sandler restated an "overweight" rating 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 given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, Johnson & Johnson presently has an average rating of "Moderate Buy" and a consensus price target of $177.87.

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.