EdgeRock Capital LLC Purchases Shares of 2,712 Johnson & Johnson $JNJ

Key Points

• EdgeRock Capital LLC has purchased 2,712 shares of Johnson & Johnson, valued at approximately $421,000, indicating strong institutional interest in the company.
• Analyst ratings for Johnson & Johnson have improved, with target prices raised by firms such as Morgan Stanley and Citigroup, suggesting growing confidence in the stock's future performance.
• Johnson & Johnson recently reported better-than-expected earnings with a 5.8% year-over-year revenue increase and announced a quarterly dividend of $1.30 per share, showcasing its financial stability.

EdgeRock Capital LLC purchased a new stake in Johnson & Johnson (NYSE:JNJ - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,712 shares of the company's stock, valued at approximately $421,000.

Several other large investors have also recently added to or reduced their stakes in JNJ. Nuveen LLC acquired a new position in Johnson & Johnson in the 1st quarter valued at approximately $1,369,188,000. GAMMA Investing LLC raised its holdings in Johnson & Johnson by 24,450.4% in the 1st quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company's stock valued at $1,196,596,000 after acquiring an additional 7,185,977 shares in the last quarter. Bank of New York Mellon Corp raised 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 valued at $3,844,580,000 after acquiring an additional 4,842,582 shares in the last quarter. Pacer Advisors Inc. raised 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 valued at $502,509,000 after acquiring an additional 2,825,626 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of 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 in the last quarter. Institutional investors and hedge funds own 69.55% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Morgan Stanley increased their target price on Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Citigroup increased their target price on Johnson & Johnson from $185.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, August 21st. The Goldman Sachs Group increased their target price on Johnson & Johnson from $185.00 to $186.00 and gave the stock a "buy" rating in a report on Friday, September 19th. Guggenheim raised Johnson & Johnson from a "neutral" rating to a "buy" rating and increased their target price for the stock from $167.00 to $206.00 in a report on Tuesday. Finally, UBS Group increased their target price on Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $181.40.

Johnson & Johnson Stock Up 1.1%

NYSE JNJ opened at $179.69 on Friday. The firm has a market cap of $432.75 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 2.26 and a beta of 0.40. Johnson & Johnson has a one year low of $140.68 and a one year high of $181.16. The stock's 50 day simple moving average is $174.41 and its 200 day simple moving average is $162.06. 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 released its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.09. The business had revenue of $23.74 billion for the quarter, compared to analyst estimates of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%.Johnson & Johnson's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the company earned $2.82 EPS. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. As a group, sell-side analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Tuesday, August 26th. Johnson & Johnson's dividend payout ratio (DPR) is presently 55.61%.

Insider Buying and Selling

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $177.81, for a total value of $10,041,108.51. Following the transaction, the executive vice president directly owned 178,013 shares in the company, valued at approximately $31,652,491.53. This trade represents a 24.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.16% of the company's stock.

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.

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