CX Institutional Acquires 1,958 Shares of Johnson & Johnson $JNJ

Key Points

• CX Institutional increased its position in Johnson & Johnson by 3.2%, acquiring an additional 1,958 shares, bringing their total holdings to 64,092 shares valued at approximately $9.79 million.
• Several research firms have raised their price targets for JNJ, with Barclays and Citigroup increasing theirs to $176.00 and $200.00 respectively, indicating a generally optimistic outlook.
• Johnson & Johnson recently reported earnings of $2.77 per share, surpassing estimates, with quarterly revenue reaching $23.74 billion, marking a 5.8% increase year-over-year.

CX Institutional grew its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 3.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 64,092 shares of the company's stock after purchasing an additional 1,958 shares during the quarter. CX Institutional's holdings in Johnson & Johnson were worth $9,790,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Elios Financial Group Inc. lifted its position in shares of Johnson & Johnson by 1.5% during the 1st quarter. Elios Financial Group Inc. now owns 4,496 shares of the company's stock valued at $746,000 after acquiring an additional 66 shares during the period. Atlantic Family Wealth LLC lifted its position in shares of Johnson & Johnson by 4.4% during the 1st quarter. Atlantic Family Wealth LLC now owns 1,603 shares of the company's stock valued at $266,000 after acquiring an additional 67 shares during the period. MBA Advisors LLC lifted its position in shares of Johnson & Johnson by 1.2% during the 1st quarter. MBA Advisors LLC now owns 5,553 shares of the company's stock valued at $921,000 after acquiring an additional 68 shares during the period. Sovereign Financial Group Inc. lifted its position in shares of Johnson & Johnson by 1.8% during the 1st quarter. Sovereign Financial Group Inc. now owns 3,928 shares of the company's stock valued at $651,000 after acquiring an additional 69 shares during the period. Finally, Nabity Jensen Investment Management Inc lifted its position in shares of Johnson & Johnson by 1.5% during the 1st quarter. Nabity Jensen Investment Management Inc now owns 4,624 shares of the company's stock valued at $767,000 after acquiring an additional 69 shares during the period. 69.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on JNJ. Barclays upped their price objective on shares of Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. UBS Group upped their price objective 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. Guggenheim upgraded shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $167.00 to $206.00 in a report on Tuesday. Bank of America upped their price objective on shares of Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Finally, Citigroup upped their price objective 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. 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 an average price target of $181.40.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $179.69 on Friday. The firm has a 50-day moving average of $174.41 and a 200-day moving average of $162.06. The company has a market cap of $432.75 billion, a P/E ratio of 19.22, a P/E/G ratio of 2.26 and a beta of 0.40. 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 has a one year low of $140.68 and a one year high of $181.16.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its earnings results 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 during 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 firm's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.82 earnings per share. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. Equities research analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th were given a dividend of $1.30 per share. The ex-dividend date was Tuesday, August 26th. This represents a $5.20 annualized dividend and a yield of 2.9%. Johnson & Johnson's dividend payout ratio is presently 55.61%.

Insiders Place Their Bets

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president owned 178,013 shares in the company, valued at approximately $31,652,491.53. This represents a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.16% of the company's stock.

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.

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