FCG Investment Co Sells 3,508 Shares of Johnson & Johnson $JNJ

Key Points

• FCG Investment Co reduced its stake in Johnson & Johnson by 21.9%, selling 3,508 shares, leaving them with 12,535 shares valued at approximately $1.9 million.
• Johnson & Johnson's stock has received several target price boosts from analysts, with JPMorgan raising its target from $185.00 to $200.00, reflecting positive market sentiment.
• The company recently announced a quarterly dividend of $1.30 per share, contributing to an annualized dividend yield of 2.9%.

FCG Investment Co cut its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 21.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,535 shares of the company's stock after selling 3,508 shares during the quarter. Johnson & Johnson comprises about 1.0% of FCG Investment Co's holdings, making the stock its 25th largest position. FCG Investment Co's holdings in Johnson & Johnson were worth $1,915,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Highline Wealth Partners LLC grew its position in shares of Johnson & Johnson by 51.8% in the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock valued at $42,000 after purchasing an additional 86 shares in the last quarter. Stone House Investment Management LLC purchased a new position in shares of Johnson & Johnson in the first quarter valued at $47,000. 1248 Management LLC purchased a new position in shares of Johnson & Johnson in the first quarter valued at $48,000. von Borstel & Associates Inc. purchased a new position in shares of Johnson & Johnson in the first quarter valued at $49,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Johnson & Johnson in the first quarter valued at $52,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 178,013 shares of the company's stock, valued at approximately $31,652,491.53. This represents a 24.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.16% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Morgan Stanley boosted their target price on Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. JPMorgan Chase & Co. boosted their target price on Johnson & Johnson from $185.00 to $200.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 16th. Bank of America boosted their target price on Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Piper Sandler restated an "overweight" rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Finally, Erste Group Bank upgraded Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Johnson & Johnson presently has an average rating of "Moderate Buy" and an average price target of $181.40.

Johnson & Johnson Trading Up 1.1%

NYSE JNJ opened at $179.69 on Friday. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $181.16. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The stock has a 50-day moving average of $174.41 and a 200-day moving average of $162.06. 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 (NYSE:JNJ - Get Free Report) last released its 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 during the quarter, compared to analyst estimates of $22.85 billion. During the same quarter in the previous year, the company posted $2.82 EPS. Johnson & Johnson's revenue for the quarter was up 5.8% on a year-over-year basis. 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 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th were issued a dividend of $1.30 per share. The ex-dividend date was Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.9%. Johnson & Johnson's dividend 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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