Cove Private Wealth LLC Has $2.35 Million Stock Holdings in Johnson & Johnson $JNJ

Key Points

• Cove Private Wealth LLC has increased its stake in Johnson & Johnson by 42.5%, owning 15,384 shares worth approximately $2.35 million.
• Johnson & Johnson reported earnings of $2.77 per share for the last quarter, exceeding analysts' expectations, alongside a revenue of $23.74 billion.
• The company announced a quarterly dividend of $1.30, representing a 2.9% dividend yield, with an annualized payout of $5.20.

Cove Private Wealth LLC increased its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 42.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,384 shares of the company's stock after buying an additional 4,585 shares during the period. Johnson & Johnson accounts for approximately 0.8% of Cove Private Wealth LLC's investment portfolio, making the stock its 26th biggest holding. Cove Private Wealth LLC's holdings in Johnson & Johnson were worth $2,350,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Nuveen LLC purchased a new stake in Johnson & Johnson in the 1st quarter valued at about $1,369,188,000. Bank of New York Mellon Corp increased its stake in shares of Johnson & Johnson by 26.4% during the 1st quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock worth $3,844,580,000 after purchasing an additional 4,842,582 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Johnson & Johnson by 1,382.0% during the 1st quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company's stock worth $502,509,000 after purchasing an additional 2,825,626 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Johnson & Johnson by 159.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,159,260 shares of the company's stock valued at $635,327,000 after buying an additional 2,557,388 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new position in Johnson & Johnson in the 2nd quarter valued at approximately $401,420,000. Institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Up 1.1%

Shares of Johnson & Johnson stock opened at $179.69 on Friday. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $181.16. The company has a market cap of $432.75 billion, a price-to-earnings ratio of 19.22, a price-to-earnings-growth ratio of 2.29 and a beta of 0.40. 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 company's 50 day moving average is $174.41 and its 200 day moving average is $162.06.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.09. The company 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% on a year-over-year basis. During the same period last year, the company posted $2.82 earnings per share. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. Research analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

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

Insider Buying and Selling

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the firm's stock in a transaction dated 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. This trade represents a 24.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.16% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on JNJ. JPMorgan Chase & Co. raised their price target on shares of Johnson & Johnson from $185.00 to $200.00 and gave the company a "neutral" rating in a report on Tuesday, September 16th. Morgan Stanley lifted their price objective on shares of Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Citigroup boosted their price target on shares of Johnson & Johnson from $185.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, August 21st. Wall Street Zen raised shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Finally, UBS Group boosted their price objective on shares of Johnson & Johnson from $180.00 to $190.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, Johnson & Johnson presently has an average rating of "Moderate Buy" and a consensus price target of $181.40.

Johnson & Johnson Company 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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