Eastern Bank Sells 1,876 Shares of Johnson & Johnson $JNJ

Key Points

• Eastern Bank has reduced its stake in Johnson & Johnson by 2.7%, selling 1,876 shares during the second quarter, leaving them with 67,251 shares valued at approximately $10.3 million.
• Recent changes in analyst ratings highlight growing confidence in Johnson & Johnson, with price targets raised by firms such as Goldman Sachs from $186.00 to $212.00.
• Johnson & Johnson declared a quarterly dividend of $1.30, representing a 2.7% yield and a payout ratio of 55.61%.

Eastern Bank reduced its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 2.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,251 shares of the company's stock after selling 1,876 shares during the quarter. Eastern Bank's holdings in Johnson & Johnson were worth $10,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Apexium Financial LP raised its stake in Johnson & Johnson by 10.7% in the first quarter. Apexium Financial LP now owns 23,989 shares of the company's stock valued at $3,978,000 after purchasing an additional 2,310 shares in the last quarter. Avanza Fonder AB raised its stake in Johnson & Johnson by 2.9% in the second quarter. Avanza Fonder AB now owns 234,647 shares of the company's stock valued at $35,842,000 after purchasing an additional 6,566 shares in the last quarter. Joel Isaacson & Co. LLC raised its stake in shares of Johnson & Johnson by 3.5% during the first quarter. Joel Isaacson & Co. LLC now owns 74,132 shares of the company's stock worth $12,294,000 after acquiring an additional 2,526 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Johnson & Johnson by 7.0% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 73,350 shares of the company's stock worth $12,164,000 after acquiring an additional 4,816 shares in the last quarter. Finally, Absher Wealth Management LLC raised its stake in shares of Johnson & Johnson by 1.2% during the first quarter. Absher Wealth Management LLC now owns 215,584 shares of the company's stock worth $35,752,000 after acquiring an additional 2,469 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 transaction of $10,041,108.51. Following the sale, the executive vice president owned 178,013 shares in the company, valued at approximately $31,652,491.53. The trade was a 24.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.16% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. The Goldman Sachs Group lifted their price target on shares of Johnson & Johnson from $186.00 to $212.00 and gave the stock a "buy" rating in a research note on Thursday. Weiss Ratings raised shares of Johnson & Johnson from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, October 8th. Piper Sandler reaffirmed an "overweight" rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. UBS Group set a $198.00 target price on shares of Johnson & Johnson in a research note on Friday, October 3rd. Finally, Barclays lifted their target price on shares of 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 equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $192.94.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $190.66 on Monday. The stock has a market cap of $459.16 billion, a P/E ratio of 20.39, a price-to-earnings-growth ratio of 2.40 and a beta of 0.40. The firm's fifty day simple moving average is $178.48 and its 200 day simple moving average is $163.78. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $192.10. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. The business had revenue of $24.02 billion for the quarter. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. As a group, research analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th were issued a $1.30 dividend. The ex-dividend date was Tuesday, August 26th. This represents a $5.20 annualized dividend and a yield of 2.7%. Johnson & Johnson's payout ratio is 55.61%.

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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