Cullen Investment Group LTD. Sells 5,715 Shares of Johnson & Johnson $JNJ

Key Points

• Cullen Investment Group LTD. reduced its stake in Johnson & Johnson by 16.8%, selling 5,715 shares in the second quarter, leaving them with 28,230 shares valued at approximately $4.31 million.
• Several investment firms raised their price targets for Johnson & Johnson, with Citigroup increasing its target to $200 and others also maintaining a generally positive outlook, resulting in a consensus rating of "Moderate Buy".
• Johnson & Johnson recently paid a quarterly dividend of $1.30 per share, which translates to an annualized dividend of $5.20 and a dividend yield of 2.9%.

Cullen Investment Group LTD. cut its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 16.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,230 shares of the company's stock after selling 5,715 shares during the quarter. Cullen Investment Group LTD.'s holdings in Johnson & Johnson were worth $4,312,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Highline Wealth Partners LLC increased its holdings in shares of Johnson & Johnson by 51.8% during the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock valued at $42,000 after acquiring an additional 86 shares in the last quarter. Stone House Investment Management LLC acquired a new position in shares of Johnson & Johnson during the first quarter valued at about $47,000. 1248 Management LLC acquired a new position in shares of Johnson & Johnson during the first quarter valued at about $48,000. von Borstel & Associates Inc. acquired a new position in shares of Johnson & Johnson during the first quarter valued at about $49,000. Finally, Capital A Wealth Management LLC acquired a new position in shares of Johnson & Johnson during the fourth quarter valued at about $50,000. 69.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Barclays upped their price objective on shares of Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Morgan Stanley upped their price objective on shares of Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Citigroup upped their price objective on shares of Johnson & Johnson from $185.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, August 21st. Bank of America upped their price objective on shares of Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Finally, Guggenheim reiterated a "neutral" rating and issued a $167.00 price target (up previously from $164.00) on shares of Johnson & Johnson in a report on Thursday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $176.29.

Insider Activity at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the firm's stock in a transaction that occurred 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is owned by insiders.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $178.10 on Friday. The stock has a market capitalization of $428.93 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 2.27 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 firm's 50 day simple moving average is $170.81 and its 200-day simple moving average is $161.30. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76.

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, topping analysts' consensus estimates of $2.68 by $0.09. The business had revenue of $23.74 billion for 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%. The business's revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company earned $2.82 EPS. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. Analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th were paid a dividend of $1.30 per share. 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 2.9%. Johnson & Johnson's dividend payout ratio (DPR) is presently 55.61%.

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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