DnB Asset Management AS Sells 116,849 Shares of Johnson & Johnson $JNJ

Key Points

• DnB Asset Management AS has reduced its stake in Johnson & Johnson by 8.8%, now holding 1,208,176 shares worth approximately $200.36 million, making it the 17th largest position in their portfolio.
• Johnson & Johnson outperformed analysts’ expectations with $2.77 earnings per share for the quarter, alongside a 5.8% year-over-year revenue increase to $23.74 billion.
• The company has announced a quarterly dividend of $1.30 per share, indicating an annualized yield of 2.9%, with a payout ratio of 55.61%.

DnB Asset Management AS decreased its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 8.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,208,176 shares of the company's stock after selling 116,849 shares during the period. Johnson & Johnson comprises approximately 0.9% of DnB Asset Management AS's holdings, making the stock its 17th largest holding. DnB Asset Management AS owned 0.05% of Johnson & Johnson worth $200,364,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in JNJ. Brighton Jones LLC boosted its position in Johnson & Johnson by 13.9% in the 4th quarter. Brighton Jones LLC now owns 51,876 shares of the company's stock valued at $7,502,000 after buying an additional 6,332 shares during the last quarter. Hudson Value Partners LLC boosted its position in Johnson & Johnson by 2.5% in the 4th quarter. Hudson Value Partners LLC now owns 41,403 shares of the company's stock valued at $5,648,000 after buying an additional 1,022 shares during the last quarter. Algert Global LLC boosted its position in Johnson & Johnson by 462.6% in the 4th quarter. Algert Global LLC now owns 25,046 shares of the company's stock valued at $3,622,000 after buying an additional 20,594 shares during the last quarter. Bridgefront Capital LLC bought a new position in Johnson & Johnson in the 4th quarter valued at $389,000. Finally, Corton Capital Inc. bought a new position in Johnson & Johnson in the 4th quarter valued at $205,000. Institutional investors and hedge funds own 69.55% of the company's stock.

Insiders Place Their Bets

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the business's stock in a transaction that occurred on 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 owned 178,013 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Piper Sandler reiterated an "overweight" rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Barclays raised their price target on Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Leerink Partners lowered Johnson & Johnson from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $169.00 to $153.00 in a research report on Tuesday, May 13th. Guggenheim restated a "neutral" rating and issued a $167.00 price target (up from $164.00) on shares of Johnson & Johnson in a research report on Thursday, July 17th. Finally, UBS Group raised their price target on Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $176.29.

Johnson & Johnson Stock Down 0.3%

Shares of NYSE:JNJ traded down $0.57 during midday trading on Friday, reaching $178.20. The company had a trading volume of 9,733,095 shares, compared to its average volume of 7,556,979. 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 business's 50 day moving average price is $168.57 and its 200 day moving average price is $160.76. The stock has a market cap of $429.15 billion, a PE ratio of 19.06, a P/E/G ratio of 2.28 and a beta of 0.40. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $181.16.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.68 by $0.09. The business 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%.Johnson & Johnson's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.82 earnings per share. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. Research analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson's payout ratio is 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.