First Manhattan CO. LLC. Reduces Holdings in Johnson & Johnson $JNJ

Key Points

• First Manhattan CO. LLC reduced its stake in Johnson & Johnson by 8.1%, owning 788,791 shares worth approximately $130.8 million after selling 69,247 shares.
• Several institutional investors have recently adjusted their holdings, including Brighton Jones LLC, which increased its stake by 13.9%, and Algert Global LLC, which boosted its position by 462.6%.
• Johnson & Johnson reported an earnings per share of $2.77 in its recent quarter, exceeding expectations, with guidance for FY 2025 EPS set at 10.800-10.900.

First Manhattan CO. LLC. cut its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 8.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 788,791 shares of the company's stock after selling 69,247 shares during the period. First Manhattan CO. LLC.'s holdings in Johnson & Johnson were worth $130,813,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of research firms have commented on JNJ. Citigroup upped their price target on Johnson & Johnson from $185.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, August 21st. UBS Group upped their price target on Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Royal Bank Of Canada increased their price objective on Johnson & Johnson from $181.00 to $185.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Leerink Partnrs cut Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, Guggenheim reiterated a "neutral" rating and issued a $167.00 price objective (up from $164.00) on shares of Johnson & Johnson in a research note on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $176.29.

Johnson & Johnson Stock Down 0.2%

NYSE:JNJ traded down $0.35 during trading hours on Wednesday, hitting $177.71. The company's stock had a trading volume of 6,832,001 shares, compared to its average volume of 7,666,583. The stock has a market capitalization of $427.98 billion, a P/E ratio of 19.01, a price-to-earnings-growth ratio of 2.26 and a beta of 0.40. The stock has a fifty day moving average of $167.02 and a 200-day moving average of $160.33. 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 52-week low of $140.68 and a 52-week high of $181.16.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its earnings results on Wednesday, July 16th. The company reported $2.77 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 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.82 earnings per share. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. On average, equities analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

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

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.