Cullinan Associates Inc. Sells 5,026 Shares of Johnson & Johnson $JNJ

Key Points

• Cullinan Associates Inc. decreased its stake in Johnson & Johnson by 2.6%, selling 5,026 shares and holding a total of 188,677 shares valued at approximately $28.82 million.
• Johnson & Johnson recently reported record earnings of $2.77 per share for the quarter, exceeding analyst expectations, with revenue of $23.74 billion, reflecting a 5.8% increase compared to the previous year.
• The company announced a quarterly dividend of $1.30 per share, yielding 2.8%, with a payout ratio of 55.61% as of the recent dividend declaration.

Cullinan Associates Inc. lowered its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 2.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 188,677 shares of the company's stock after selling 5,026 shares during the period. Johnson & Johnson accounts for approximately 1.9% of Cullinan Associates Inc.'s portfolio, making the stock its 10th largest position. Cullinan Associates Inc.'s holdings in Johnson & Johnson were worth $28,820,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Sendero Wealth Management LLC lifted its position in shares of Johnson & Johnson by 4.2% in the 2nd quarter. Sendero Wealth Management LLC now owns 8,353 shares of the company's stock worth $1,276,000 after purchasing an additional 337 shares during the period. Joule Financial LLC increased its stake in shares of Johnson & Johnson by 15.4% in the 2nd quarter. Joule Financial LLC now owns 2,759 shares of the company's stock valued at $421,000 after acquiring an additional 368 shares in the last quarter. Plimoth Trust Co. LLC increased its stake in shares of Johnson & Johnson by 4.6% in the 2nd quarter. Plimoth Trust Co. LLC now owns 36,992 shares of the company's stock valued at $5,651,000 after acquiring an additional 1,613 shares in the last quarter. Woodmont Investment Counsel LLC increased its stake in shares of Johnson & Johnson by 4.4% in the 2nd quarter. Woodmont Investment Counsel LLC now owns 97,737 shares of the company's stock valued at $14,929,000 after acquiring an additional 4,108 shares in the last quarter. Finally, Grimes & Company Inc. increased its stake in shares of Johnson & Johnson by 3.4% in the 2nd quarter. Grimes & Company Inc. now owns 106,981 shares of the company's stock valued at $16,341,000 after acquiring an additional 3,544 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company's stock.

Johnson & Johnson Price Performance

JNJ opened at $188.95 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. The company has a market capitalization of $455.06 billion, a price-to-earnings ratio of 20.21, a P/E/G ratio of 2.40 and a beta of 0.40. The firm's fifty day moving average price is $177.04 and its two-hundred day moving average price is $163.18. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $189.92.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted 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. The firm had revenue of $23.74 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.82 EPS. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. As a group, analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal 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. The ex-dividend date was Tuesday, August 26th. This represents a $5.20 annualized dividend and a dividend yield of 2.8%. Johnson & Johnson's dividend payout ratio (DPR) is currently 55.61%.

Insider Activity

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 value of $10,041,108.51. Following the transaction, the executive vice president owned 178,013 shares in the company, valued at approximately $31,652,491.53. This trade represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Citigroup lifted their price objective on shares of Johnson & Johnson from $200.00 to $213.00 and gave the company a "buy" rating in a research note on Tuesday. HSBC lifted their price objective on shares of Johnson & Johnson from $188.00 to $210.00 in a research note on Tuesday, September 30th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Johnson & Johnson in a research note on Saturday, September 27th. Sanford C. Bernstein boosted their price target on shares of Johnson & Johnson from $172.00 to $193.00 and gave the company a "market perform" rating in a research note on Monday. Finally, Guggenheim upgraded shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and boosted their price target for the company from $167.00 to $206.00 in a research note on Tuesday, September 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, Johnson & Johnson has a consensus rating of "Moderate Buy" and an average target price of $189.88.

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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