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

Key Points

• CX Institutional increased its holdings in Johnson & Johnson by 3.2% in the second quarter, bringing the total to 64,092 shares valued at approximately $9.79 million.
• Multiple hedge funds also altered their positions in Johnson & Johnson, with notable increases including Nuveen LLC purchasing shares worth over $1.36 billion in the first quarter.
• Analysts have set new price targets for Johnson & Johnson, with UBS and Citigroup raising their target prices to $190 and $200, respectively.

CX Institutional increased its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 3.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 64,092 shares of the company's stock after acquiring an additional 1,958 shares during the quarter. CX Institutional's holdings in Johnson & Johnson were worth $9,790,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Highline Wealth Partners LLC grew its holdings in shares of Johnson & Johnson by 51.8% in the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock worth $42,000 after acquiring an additional 86 shares during the last quarter. Stone House Investment Management LLC acquired a new position in shares of Johnson & Johnson in the 1st quarter worth $47,000. 1248 Management LLC acquired a new position in shares of Johnson & Johnson in the 1st quarter worth $48,000. von Borstel & Associates Inc. acquired a new position in shares of Johnson & Johnson in the 1st quarter worth $49,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Johnson & Johnson in the 1st quarter worth $52,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the business's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the transaction, the executive vice president directly owned 178,013 shares in the company, valued at $31,652,491.53. The trade was a 24.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.16% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

JNJ has been the subject of several recent analyst reports. Royal Bank Of Canada raised their target price on Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Guggenheim reissued a "neutral" rating and set a $167.00 price objective (up previously from $164.00) on shares of Johnson & Johnson in a research report on Thursday, July 17th. Erste Group Bank raised Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Bank of America raised their target price on Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Finally, Morgan Stanley raised their target price on Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, Johnson & Johnson has an average rating of "Moderate Buy" and a consensus target price of $178.80.

Johnson & Johnson Stock Performance

NYSE JNJ traded down $1.97 during trading on Monday, hitting $174.22. The company's stock had a trading volume of 7,186,784 shares, compared to its average volume of 8,947,292. 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 firm has a 50 day moving average price of $172.80 and a 200 day moving average price of $161.64. The firm has a market cap of $419.58 billion, a P/E ratio of 18.63, a price-to-earnings-growth ratio of 2.24 and a beta of 0.40. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $181.16.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, topping the consensus estimate of $2.68 by $0.09. The company had revenue of $23.74 billion for the quarter, compared to the consensus estimate of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%.The company's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.82 EPS. 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 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.0%. The ex-dividend date was Tuesday, August 26th. Johnson & Johnson's payout ratio is currently 55.61%.

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.