Fifth Third Bancorp Sells 16,161 Shares of Johnson & Johnson $JNJ

Key Points

• Fifth Third Bancorp reduced its stake in Johnson & Johnson by 1.5% by selling 16,161 shares, bringing its total holdings to approximately $162.33 million.
• Johnson & Johnson reported a quarterly earnings per share of $2.77, exceeding estimates and generating $23.74 billion in revenue for the quarter.
• Recent analyst upgrades include Guggenheim raising its price target for Johnson & Johnson from $167.00 to $206.00 and maintaining a buy rating.

Fifth Third Bancorp cut its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 1.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,062,739 shares of the company's stock after selling 16,161 shares during the period. Fifth Third Bancorp's holdings in Johnson & Johnson were worth $162,333,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of JNJ. Elios Financial Group Inc. grew its position in shares of Johnson & Johnson by 1.5% during the 1st quarter. Elios Financial Group Inc. now owns 4,496 shares of the company's stock worth $746,000 after buying an additional 66 shares during the period. Atlantic Family Wealth LLC grew its holdings in Johnson & Johnson by 4.4% during the 1st quarter. Atlantic Family Wealth LLC now owns 1,603 shares of the company's stock worth $266,000 after acquiring an additional 67 shares during the period. MBA Advisors LLC raised its position in shares of Johnson & Johnson by 1.2% during the 1st quarter. MBA Advisors LLC now owns 5,553 shares of the company's stock valued at $921,000 after acquiring an additional 68 shares during the last quarter. Sovereign Financial Group Inc. lifted its stake in shares of Johnson & Johnson by 1.8% in the 1st quarter. Sovereign Financial Group Inc. now owns 3,928 shares of the company's stock valued at $651,000 after purchasing an additional 69 shares during the period. Finally, Nabity Jensen Investment Management Inc boosted its position in shares of Johnson & Johnson by 1.5% in the 1st quarter. Nabity Jensen Investment Management Inc now owns 4,624 shares of the company's stock worth $767,000 after purchasing an additional 69 shares during the last quarter. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Trading Up 0.0%

JNJ opened at $176.62 on Thursday. The stock has a market capitalization of $425.35 billion, a P/E ratio of 18.89, a P/E/G ratio of 2.25 and a beta of 0.40. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $181.16. The firm's fifty day simple moving average is $173.80 and its 200 day simple moving average is $161.90.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.09. The firm had revenue of $23.74 billion for the quarter, compared to the consensus estimate of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%.The company's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $2.82 EPS. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. As a group, research analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.9%. Johnson & Johnson's dividend payout ratio (DPR) is 55.61%.

Insider Activity at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the 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 transaction, the executive vice president owned 178,013 shares in the company, valued at approximately $31,652,491.53. This represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on JNJ. Guggenheim upgraded Johnson & Johnson from a "neutral" rating to a "buy" rating and upped their price objective for the company from $167.00 to $206.00 in a report on Tuesday. Morgan Stanley increased their price target on shares of Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. The Goldman Sachs Group boosted their price objective on shares of Johnson & Johnson from $185.00 to $186.00 and gave the company a "buy" rating in a report on Friday, September 19th. Piper Sandler reiterated an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Finally, Wall Street Zen raised shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. Two 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 company. According to MarketBeat.com, Johnson & Johnson has a consensus rating of "Moderate Buy" and a consensus price target of $181.40.

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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