Bridgeway Capital Management LLC Lowers Stake in Johnson & Johnson $JNJ

Key Points

• Bridgeway Capital Management LLC reduced its stake in Johnson & Johnson by 12.3%, selling 18,629 shares and holding 132,575 shares at the end of the first quarter.
• Several analysts have increased their price targets for Johnson & Johnson, with Bank of America raising it from $161 to $175, and Citigroup from $185 to $200.
• Johnson & Johnson announced a quarterly dividend of $1.30 per share, resulting in an annual dividend yield of 2.9%.

Bridgeway Capital Management LLC lowered its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 12.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 132,575 shares of the company's stock after selling 18,629 shares during the quarter. Johnson & Johnson comprises about 0.6% of Bridgeway Capital Management LLC's holdings, making the stock its 17th biggest holding. Bridgeway Capital Management LLC's holdings in Johnson & Johnson were worth $21,986,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of JNJ. Highline Wealth Partners LLC boosted its position in shares of Johnson & Johnson by 51.8% during the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock worth $42,000 after purchasing an additional 86 shares during the period. Stone House Investment Management LLC acquired a new position in Johnson & Johnson during the first quarter worth $47,000. 1248 Management LLC purchased a new position in shares of Johnson & Johnson during the first quarter worth $48,000. von Borstel & Associates Inc. acquired a new stake in shares of Johnson & Johnson in the first quarter valued at $49,000. Finally, Capital A Wealth Management LLC acquired a new position in Johnson & Johnson during the 4th quarter worth about $50,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Down 0.3%

NYSE JNJ traded down $0.57 during trading on Friday, reaching $178.20. 9,733,095 shares of the company's stock were exchanged, compared to its average volume of 7,556,979. The company has a 50 day moving average price of $168.06 and a two-hundred day moving average price of $160.60. The stock has a market cap of $429.15 billion, a P/E ratio of 19.06, a price-to-earnings-growth ratio of 2.28 and a beta of 0.40. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $181.16. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, beating analysts' consensus estimates of $2.68 by $0.09. The firm had revenue of $23.74 billion during the quarter, compared to analysts' expectations of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. Johnson & Johnson's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.82 earnings per share. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. On average, equities research analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a yield of 2.9%. Johnson & Johnson's dividend payout ratio (DPR) is 55.61%.

Insider Activity at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the business's stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.16% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Leerink Partnrs lowered shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Piper Sandler reaffirmed an "overweight" rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Guggenheim reiterated a "neutral" rating and set a $167.00 target price (up from $164.00) on shares of Johnson & Johnson in a report on Thursday, July 17th. Barclays boosted their price target on shares of Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Finally, Leerink Partners cut Johnson & Johnson from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $169.00 to $153.00 in a research note on Tuesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Johnson & Johnson currently has an average rating of "Moderate Buy" and a consensus price target of $176.29.

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.