BTC Capital Management Inc. Purchases 7,170 Shares of Johnson & Johnson $JNJ

Key Points

• BTC Capital Management Inc. increased its holdings in Johnson & Johnson by 8.6% in Q2, owning 90,945 shares worth approximately $13.81 million, making it the fund's 24th largest holding.
• Several institutional investors have also raised their stakes in Johnson & Johnson, with Vanguard Group Inc. owning over 233 million shares valued at around $38.8 billion.
• Johnson & Johnson recently beat earnings expectations with $2.77 EPS for the quarter, supporting a 3.0% dividend yield after declaring a quarterly dividend of $1.30 per share.

BTC Capital Management Inc. increased its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 8.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 90,945 shares of the company's stock after purchasing an additional 7,170 shares during the quarter. Johnson & Johnson makes up approximately 1.1% of BTC Capital Management Inc.'s portfolio, making the stock its 24th largest position. BTC Capital Management Inc.'s holdings in Johnson & Johnson were worth $13,808,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Johnson & Johnson by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 233,962,679 shares of the company's stock valued at $38,800,371,000 after purchasing an additional 1,170,120 shares during the period. Northern Trust Corp increased its holdings in shares of Johnson & Johnson by 0.4% in the 1st quarter. Northern Trust Corp now owns 30,943,820 shares of the company's stock valued at $5,131,723,000 after acquiring an additional 130,645 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Johnson & Johnson by 26.4% in the 1st quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock valued at $3,844,580,000 after buying an additional 4,842,582 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Johnson & Johnson by 3.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,899,263 shares of the company's stock valued at $3,133,602,000 after purchasing an additional 712,181 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Johnson & Johnson by 2.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 18,282,410 shares of the company's stock valued at $3,031,955,000 after acquiring an additional 448,666 shares in the last quarter. 69.55% of the stock is owned by institutional investors.

Insider Buying and Selling at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction that occurred 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 completion of the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.16% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on JNJ shares. Morgan Stanley boosted their price target on Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Wall Street Zen upgraded shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. Royal Bank Of Canada raised their price objective on shares of Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Erste Group Bank upgraded shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Finally, Barclays boosted their price target on shares of Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Two equities research 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $178.80.

Johnson & Johnson Trading Down 1.1%

Shares of NYSE JNJ traded down $1.97 during trading hours on Monday, hitting $174.22. 7,186,784 shares of the company traded hands, compared to its average volume of 7,799,981. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $419.58 billion, a price-to-earnings ratio of 18.63, a price-to-earnings-growth ratio of 2.24 and a beta of 0.40. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $181.16. The company's 50 day moving average price is $173.14 and its 200 day moving average price is $161.69.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.68 by $0.09. The company had revenue of $23.74 billion for the quarter, compared to analyst estimates of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%.Johnson & Johnson's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last 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 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th were paid a $1.30 dividend. 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 3.0%. Johnson & Johnson's dividend payout ratio is 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.