Fortitude Family Office LLC Trims Stock Holdings in Johnson & Johnson $JNJ

Key Points

• Fortitude Family Office LLC has cut its stake in Johnson & Johnson by 46.0% during the second quarter, now owning just 2,011 shares valued at $307,000.
• Despite Fortitude's sale, several institutional investors including Vanguard Group, Northern Trust, and Bank of New York Mellon have increased their positions in Johnson & Johnson, demonstrating continued investor interest.
• Johnson & Johnson reported a quarterly earnings per share (EPS) of $2.77, exceeding estimates and showing a 5.8% increase in revenue year-over-year, with a strong guidance for FY 2025 set between $10.800-10.900 EPS.

Fortitude Family Office LLC decreased its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 46.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,011 shares of the company's stock after selling 1,716 shares during the quarter. Fortitude Family Office LLC's holdings in Johnson & Johnson were worth $307,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. increased its position in Johnson & Johnson by 0.5% in the first quarter. Vanguard Group Inc. now owns 233,962,679 shares of the company's stock worth $38,800,371,000 after buying an additional 1,170,120 shares in the last quarter. Northern Trust Corp increased its position in Johnson & Johnson by 0.4% in the first quarter. Northern Trust Corp now owns 30,943,820 shares of the company's stock worth $5,131,723,000 after buying an additional 130,645 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Johnson & Johnson by 26.4% during the first 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 in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Johnson & Johnson by 3.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 18,899,263 shares of the company's stock worth $3,133,602,000 after purchasing an additional 712,181 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Johnson & Johnson by 2.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 18,282,410 shares of the company's stock worth $3,031,955,000 after purchasing an additional 448,666 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company's stock.

Insider Activity

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the firm's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the completion of the sale, the executive vice president directly owned 178,013 shares of the company's stock, valued at approximately $31,652,491.53. This trade represents a 24.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.16% of the company's stock.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $176.35 on Wednesday. The stock has a market capitalization of $424.71 billion, a PE ratio of 18.86, a P/E/G ratio of 2.22 and a beta of 0.40. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $181.16. The business has a 50 day simple moving average of $173.56 and a two-hundred day simple moving average of $161.79. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $23.74 billion during 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%.The company's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the company earned $2.82 EPS. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. On average, research analysts predict that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th were paid 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 dividend payout ratio (DPR) is presently 55.61%.

Analyst Ratings Changes

Several research firms recently issued reports on JNJ. Morgan Stanley increased their target price on Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Guggenheim upgraded Johnson & Johnson from a "neutral" rating to a "buy" rating and increased their target price for the stock from $167.00 to $206.00 in a research report on Tuesday. Piper Sandler reiterated an "overweight" rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. JPMorgan Chase & Co. raised their price target on Johnson & Johnson from $185.00 to $200.00 and gave the company a "neutral" rating in a report on Tuesday, September 16th. Finally, Wall Street Zen upgraded Johnson & Johnson from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. Two investment 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's stock. According to MarketBeat, Johnson & Johnson has a consensus rating of "Moderate Buy" and an average 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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