Fortis Capital Advisors LLC Grows Position in Johnson & Johnson $JNJ

Key Points

• Fortis Capital Advisors LLC increased its stake in Johnson & Johnson by 411.7%, owning 14,962 shares valued at approximately $2.48 million.
• Johnson & Johnson reported a quarterly earnings of $2.77 per share, surpassing analysts' expectations, with revenue of $23.74 billion.
• The company declared a quarterly dividend of $1.30 per share, resulting in an annualized dividend of $5.20 and a dividend yield of 2.9%.

Fortis Capital Advisors LLC boosted its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 411.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,962 shares of the company's stock after buying an additional 12,038 shares during the period. Johnson & Johnson makes up approximately 0.5% of Fortis Capital Advisors LLC's portfolio, making the stock its 28th biggest position. Fortis Capital Advisors LLC's holdings in Johnson & Johnson were worth $2,481,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Highline Wealth Partners LLC lifted its holdings in shares of Johnson & Johnson by 51.8% in the 1st 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 last quarter. Stone House Investment Management LLC acquired a new position in Johnson & Johnson during the first quarter worth $47,000. 1248 Management LLC purchased a new position in shares of Johnson & Johnson during the first quarter worth $48,000. von Borstel & Associates Inc. acquired a new stake in shares of Johnson & Johnson in the first quarter valued at $49,000. Finally, Capital A Wealth Management LLC purchased a new stake in shares of Johnson & Johnson in the 4th quarter valued at $50,000. Hedge funds and other institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Down 0.6%

Shares of Johnson & Johnson stock opened at $177.12 on Wednesday. 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 has a 52-week low of $140.68 and a 52-week high of $181.16. The company has a market capitalization of $426.57 billion, a P/E ratio of 18.94, a P/E/G ratio of 2.27 and a beta of 0.40. The company has a 50 day moving average of $169.51 and a 200 day moving average of $161.02.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $23.74 billion for the quarter, compared to analyst estimates of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The company's revenue was up 5.8% on a year-over-year basis. During the same period last year, the business earned $2.82 EPS. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. As a group, research analysts forecast 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 given a dividend of $1.30 per share. 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 dividend payout ratio is currently 55.61%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on JNJ shares. Wall Street Zen cut Johnson & Johnson from a "buy" rating to a "hold" rating in a report on Friday, September 5th. Piper Sandler reissued an "overweight" rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Leerink Partnrs cut shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Leerink Partners lowered shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $169.00 to $153.00 in a report on Tuesday, May 13th. Finally, Royal Bank Of Canada raised their price target on shares of Johnson & Johnson from $181.00 to $185.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Two equities research 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 MarketBeat, Johnson & Johnson currently has an average rating of "Moderate Buy" and an average price target of $176.29.

Insider Activity at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the 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 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.16% of the company's stock.

Johnson & Johnson 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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