Eagle Global Advisors LLC Sells 1,640 Shares of Johnson & Johnson $JNJ

Key Points

• Eagle Global Advisors LLC reduced its stake in Johnson & Johnson by 1.8%, now holding 90,868 shares valued at approximately $13.88 million.
• Several institutional investors, including Nuveen LLC and Bank of New York Mellon Corp, increased their holdings, with 69.55% of Johnson & Johnson's stock owned by institutional investors.
• Johnson & Johnson recently reported earnings of $2.77 per share, beating estimates, and announced a quarterly dividend of $1.30 per share with a yield of 2.9%.

Eagle Global Advisors LLC cut its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 1.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,868 shares of the company's stock after selling 1,640 shares during the quarter. Eagle Global Advisors LLC's holdings in Johnson & Johnson were worth $13,880,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Nuveen LLC purchased a new stake in Johnson & Johnson during the 1st quarter valued at $1,369,188,000. Bank of New York Mellon Corp boosted its holdings in Johnson & Johnson by 26.4% in the 1st quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock worth $3,844,580,000 after buying an additional 4,842,582 shares during the period. Pacer Advisors Inc. boosted its holdings in Johnson & Johnson by 1,382.0% in the 1st quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company's stock worth $502,509,000 after buying an additional 2,825,626 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Johnson & Johnson by 159.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,159,260 shares of the company's stock worth $635,327,000 after buying an additional 2,557,388 shares during the period. Finally, Kingstone Capital Partners Texas LLC bought a new position in Johnson & Johnson in the 2nd quarter worth $401,420,000. 69.55% of the stock is owned by institutional investors.

Insider Activity at Johnson & Johnson

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

Johnson & Johnson Price Performance

Shares of JNJ opened at $179.69 on Friday. The company has a market cap of $432.75 billion, a price-to-earnings ratio of 19.22, a price-to-earnings-growth ratio of 2.29 and a beta of 0.40. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $181.16. 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 company has a 50 day moving average of $174.41 and a two-hundred day moving average of $162.06.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $22.85 billion. During the same period last year, the firm earned $2.82 earnings per share. Johnson & Johnson's revenue 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, analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

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

Analyst Ratings Changes

Several research analysts have commented on the stock. Piper Sandler reissued an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Citigroup increased their price objective on shares of Johnson & Johnson from $185.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, August 21st. Morgan Stanley increased their price objective on shares of Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Bank of America increased their price target on shares of Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Finally, The Goldman Sachs Group increased their price objective on shares of Johnson & Johnson from $185.00 to $186.00 and gave the stock a "buy" rating in a research report on Friday, September 19th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $181.40.

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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