Cohen Klingenstein LLC Reduces Holdings in Johnson & Johnson $JNJ

Key Points

• Cohen Klingenstein LLC has decreased its holdings in Johnson & Johnson by 2.7%, now owning 128,759 shares worth approximately $19.67 million.
• Recent analyst upgrades include Guggenheim raising the target price for Johnson & Johnson from $167 to $206, with multiple firms giving "buy" ratings and an average target price of $181.40.
• Johnson & Johnson recently declared a quarterly dividend of $1.30, translating to an annual yield of 2.8%, and has set its FY 2025 EPS guidance between 10.800 and 10.900.

Cohen Klingenstein LLC reduced its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 2.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,759 shares of the company's stock after selling 3,613 shares during the period. Johnson & Johnson accounts for about 0.7% of Cohen Klingenstein LLC's investment portfolio, making the stock its 25th largest holding. Cohen Klingenstein LLC's holdings in Johnson & Johnson were worth $19,668,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of JNJ. Highline Wealth Partners LLC increased its stake in Johnson & Johnson by 51.8% during the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock valued at $42,000 after purchasing an additional 86 shares in the last quarter. Stone House Investment Management LLC purchased a new position in Johnson & Johnson during the first quarter valued at approximately $47,000. 1248 Management LLC purchased a new position in Johnson & Johnson during the first quarter valued at approximately $48,000. von Borstel & Associates Inc. bought a new position in shares of Johnson & Johnson during the first quarter worth $49,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Johnson & Johnson during the first quarter valued at $52,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on JNJ shares. Guggenheim raised shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and increased their target price for the company from $167.00 to $206.00 in a research note on Tuesday, September 23rd. The Goldman Sachs Group upped their price target on shares of Johnson & Johnson from $185.00 to $186.00 and gave the stock a "buy" rating in a report on Friday, September 19th. Citigroup upped their price target on shares of Johnson & Johnson from $185.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, August 21st. JPMorgan Chase & Co. upped their price target on shares of Johnson & Johnson from $185.00 to $200.00 and gave the stock a "neutral" rating in a report on Tuesday, September 16th. Finally, UBS Group upped their price target on shares of Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, Johnson & Johnson has an average rating of "Moderate Buy" and an average target price of $181.40.

Johnson & Johnson Stock Down 0.0%

Shares of Johnson & Johnson stock opened at $185.98 on Friday. The firm's 50 day moving average price is $175.78 and its 200-day moving average price is $162.66. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $186.59. The company has a market cap of $447.91 billion, a P/E ratio of 19.89, a PEG ratio of 2.37 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 (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $22.85 billion. During the same quarter in the previous year, the firm earned $2.82 EPS. The company's quarterly revenue was up 5.8% compared to the same quarter last year. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. On average, sell-side analysts predict that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th were given 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 2.8%. Johnson & Johnson's payout ratio is presently 55.61%.

Insider Activity

In other news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total value of $10,041,108.51. Following the transaction, the executive vice president owned 178,013 shares of the company's stock, valued at $31,652,491.53. The trade was a 24.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is currently owned by insiders.

About Johnson & Johnson

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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