Focused Investors LLC Sells 183,200 Shares of Johnson & Johnson $JNJ

Key Points

• Focused Investors LLC reduced its holdings in Johnson & Johnson by 16.2%, selling 183,200 shares during the second quarter, resulting in the firm owning 947,650 shares valued at approximately $144.75 million.
• Recently, several analysts have upgraded their ratings on Johnson & Johnson stock, with a consensus price target set at $189.88 and an average rating of "Moderate Buy".
• The company reported $2.77 EPS for the last quarter, exceeding estimates, with an annualized dividend of $5.20 and a dividend yield of 2.7%.

Focused Investors LLC cut its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 16.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 947,650 shares of the company's stock after selling 183,200 shares during the quarter. Johnson & Johnson makes up about 4.7% of Focused Investors LLC's holdings, making the stock its 9th biggest position. Focused Investors LLC's holdings in Johnson & Johnson were worth $144,754,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nuveen LLC acquired a new stake in Johnson & Johnson in the 1st quarter worth $1,369,188,000. Bank of New York Mellon Corp grew its position 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 worth $3,844,580,000 after purchasing an additional 4,842,582 shares during the last quarter. Pacer Advisors Inc. grew its position 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 worth $502,509,000 after purchasing an additional 2,825,626 shares during the last quarter. Assenagon Asset Management S.A. grew its position in 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 purchasing an additional 2,557,388 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC acquired a new stake in Johnson & Johnson in the 2nd quarter worth $401,420,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wall Street Zen upgraded shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. Piper Sandler restated an "overweight" rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Sanford C. Bernstein raised their price target on shares of Johnson & Johnson from $172.00 to $193.00 and gave the stock a "market perform" rating in a research report on Monday. Royal Bank Of Canada raised their price objective on shares of Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Johnson & Johnson from $185.00 to $200.00 and gave the stock a "neutral" rating in a report on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $189.88.

Johnson & Johnson Trading Up 0.5%

Shares of JNJ stock opened at $189.75 on Thursday. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $190.22. The company has a market capitalization of $456.98 billion, a P/E ratio of 20.29, a P/E/G ratio of 2.41 and a beta of 0.40. The firm has a 50-day moving average price of $177.49 and a 200 day moving average price of $163.37. 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 announced 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. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The firm had revenue of $23.74 billion during the quarter, compared to the consensus estimate of $22.85 billion. During the same period last year, the firm posted $2.82 EPS. The firm's quarterly revenue was up 5.8% on a year-over-year basis. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. Research analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

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

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the business's stock in a transaction dated Thursday, September 4th. The shares were 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 directly owned 178,013 shares of the company's stock, valued at approximately $31,652,491.53. The trade was a 24.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company's stock.

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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