Focused Wealth Management Inc Cuts Holdings in Johnson & Johnson $JNJ

Key Points

• Focused Wealth Management Inc has decreased its holdings in Johnson & Johnson by 31.6%, now owning 6,856 shares worth approximately $1,047,000.
• Several other institutional investors have increased their stakes in Johnson & Johnson, with holdings among them comprising 69.55% of the stock.
• Wall Street analysts are optimistic about Johnson & Johnson's performance, with a consensus rating of Moderate Buy and an average price target of $181.40.

Focused Wealth Management Inc trimmed its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 31.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,856 shares of the company's stock after selling 3,162 shares during the period. Focused Wealth Management Inc's holdings in Johnson & Johnson were worth $1,047,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Bfsg LLC boosted its stake in Johnson & Johnson by 3.4% during the 2nd quarter. Bfsg LLC now owns 25,876 shares of the company's stock valued at $3,953,000 after purchasing an additional 857 shares during the last quarter. Optima Capital LLC boosted its stake in shares of Johnson & Johnson by 10.0% in the 2nd quarter. Optima Capital LLC now owns 1,348 shares of the company's stock worth $206,000 after buying an additional 123 shares during the last quarter. Cardinal Capital Management boosted its stake in shares of Johnson & Johnson by 3.4% in the 2nd quarter. Cardinal Capital Management now owns 116,942 shares of the company's stock worth $17,863,000 after buying an additional 3,798 shares during the last quarter. West Oak Capital LLC boosted its stake in shares of Johnson & Johnson by 12.2% in the 2nd quarter. West Oak Capital LLC now owns 17,978 shares of the company's stock worth $2,746,000 after buying an additional 1,955 shares during the last quarter. Finally, Wealth Advisory Solutions LLC boosted its stake in shares of Johnson & Johnson by 1.7% in the 2nd quarter. Wealth Advisory Solutions LLC now owns 6,139 shares of the company's stock worth $938,000 after buying an additional 101 shares during the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

JNJ has been the topic of a number of research reports. Bank of America raised their price target on Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Wall Street Zen raised Johnson & Johnson from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. Guggenheim raised Johnson & Johnson from a "neutral" rating to a "buy" rating and raised their target price for the stock from $167.00 to $206.00 in a report on Tuesday. Royal Bank Of Canada raised their target price on Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Finally, Citigroup raised 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. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $181.40.

Insider Buying and Selling

In related news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson stock in a transaction dated 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 in the company, valued at approximately $31,652,491.53. This trade represents a 24.08% decrease in their ownership of the stock. The transaction 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.

Johnson & Johnson Trading Up 1.2%

Shares of JNJ stock opened at $176.35 on Wednesday. Johnson & Johnson has a 12-month low of $140.68 and a 12-month 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's 50-day moving average price is $173.56 and its 200-day moving average price is $161.79. The stock has a market capitalization of $424.71 billion, a price-to-earnings ratio of 18.86, a price-to-earnings-growth ratio of 2.22 and a beta of 0.40.

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

Johnson & Johnson Dividend Announcement

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

Want to see what other hedge funds are holding JNJ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Johnson & Johnson (NYSE:JNJ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.