E. Ohman J or Asset Management AB Sells 4,493 Shares of Johnson & Johnson $JNJ

Key Points

• E. Ohman J or Asset Management AB has reduced its position in Johnson & Johnson by 4.2%, now holding 101,497 shares worth approximately $15.5 million.
• Several institutional investors have increased their stakes in Johnson & Johnson, contributing to a total ownership of 69.55% of the company’s stock by such entities.
• Analysts have raised their price targets for Johnson & Johnson, with Citigroup setting a new target of $200.00 and maintaining a "buy" rating.

E. Ohman J or Asset Management AB cut its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 4.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 101,497 shares of the company's stock after selling 4,493 shares during the period. E. Ohman J or Asset Management AB's holdings in Johnson & Johnson were worth $15,504,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in JNJ. Highline Wealth Partners LLC raised its stake in Johnson & Johnson by 51.8% during the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock valued at $42,000 after purchasing an additional 86 shares during the period. Stone House Investment Management LLC bought a new stake in Johnson & Johnson during the first quarter valued at about $47,000. 1248 Management LLC bought a new stake in Johnson & Johnson during the first quarter valued at about $48,000. von Borstel & Associates Inc. bought a new stake in Johnson & Johnson during the first quarter valued at about $49,000. Finally, Capital A Wealth Management LLC bought a new stake in Johnson & Johnson during the fourth quarter valued at about $50,000. Institutional investors own 69.55% of the company's stock.

Johnson & Johnson Trading Down 0.3%

Shares of JNJ stock traded down $0.57 during trading hours on Monday, reaching $177.49. The company had a trading volume of 4,767,621 shares, compared to its average volume of 7,435,351. The company has a 50 day moving average of $171.25 and a 200 day moving average of $161.36. 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 firm has a market cap of $427.46 billion, a price-to-earnings ratio of 18.98, a P/E/G ratio of 2.27 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 posted its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, beating analysts' consensus estimates of $2.68 by $0.09. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%.The company had revenue of $23.74 billion for the quarter, compared to the consensus estimate of $22.85 billion. During the same quarter in the prior year, the business posted $2.82 EPS. The firm's quarterly revenue was up 5.8% on a year-over-year basis. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. On average, equities research analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

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

Insider Buying and Selling

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the business's stock in a transaction 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 sale, 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 legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.16% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on JNJ. Piper Sandler restated an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Citigroup upped their price objective on shares of Johnson & Johnson from $185.00 to $200.00 and gave the company a "buy" rating in a research report on Thursday, August 21st. Wall Street Zen raised shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Saturday. UBS Group upped their price objective on shares of Johnson & Johnson from $180.00 to $190.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Finally, Royal Bank Of Canada upped their price objective on shares of Johnson & Johnson from $181.00 to $185.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $176.29.

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.