Davis Investment Partners LLC Acquires 17,089 Shares of Johnson & Johnson $JNJ

Key Points

• Davis Investment Partners LLC significantly increased its holdings in Johnson & Johnson by acquiring 17,089 shares, raising its position by 385.8% to a total of 21,518 shares.
• Wall Street analysts have shown a mixed outlook for Johnson & Johnson, with target price upgrades from firms like Bank of America and Royal Bank of Canada, reflecting a growing confidence in the company's performance.
• Johnson & Johnson recently declared a quarterly dividend of $1.30 per share, which translates to an annualized yield of 2.9% and indicates a healthy payout ratio of 55.61%.

Davis Investment Partners LLC raised its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 385.8% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 21,518 shares of the company's stock after acquiring an additional 17,089 shares during the period. Johnson & Johnson comprises 1.2% of Davis Investment Partners LLC's portfolio, making the stock its 14th biggest position. Davis Investment Partners LLC's holdings in Johnson & Johnson were worth $3,354,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Highline Wealth Partners LLC increased its holdings in shares of Johnson & Johnson by 51.8% during 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 bought a new stake in shares of Johnson & Johnson during the 1st quarter worth $47,000. 1248 Management LLC bought a new stake in shares of Johnson & Johnson during the 1st quarter worth $48,000. von Borstel & Associates Inc. bought a new position in Johnson & Johnson in the first quarter valued at about $49,000. Finally, Harvest Fund Management Co. Ltd bought a new position in Johnson & Johnson in the first quarter valued at about $52,000. 69.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

JNJ has been the topic of a number of recent analyst reports. Guggenheim reiterated a "neutral" rating and set a $167.00 price target (up from $164.00) on shares of Johnson & Johnson in a report on Thursday, July 17th. 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 research note on Thursday, July 17th. Royal Bank Of Canada lifted their price objective on Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Erste Group Bank upgraded Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Finally, Barclays increased their price objective on Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $176.29.

Johnson & Johnson Price Performance

Shares of JNJ opened at $178.10 on Monday. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $181.16. The stock has a market cap of $428.93 billion, a PE ratio of 19.05, a price-to-earnings-growth ratio of 2.27 and a beta of 0.40. The firm has a fifty day moving average price of $170.81 and a 200 day moving average price of $161.27. 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 earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.09. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The company had revenue of $23.74 billion for the quarter, compared to analyst estimates of $22.85 billion. During the same period in the prior year, the business posted $2.82 earnings per share. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current 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. The ex-dividend date of this dividend was Tuesday, August 26th. This represents a $5.20 annualized dividend and a yield of 2.9%. Johnson & Johnson's payout ratio is 55.61%.

Insider Activity at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson 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 completion of the transaction, the executive vice president directly owned 178,013 shares of the company's stock, valued at approximately $31,652,491.53. The trade was a 24.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.16% of the company's stock.

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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