Gamco Investors INC. ET AL Reduces Stock Position in Johnson & Johnson $JNJ

Key Points

• Gamco Investors INC. ET AL has reduced its stake in Johnson & Johnson by 6.7%, selling 6,220 shares, resulting in ownership of 86,714 shares valued at approximately $14.38 million.
• Several other hedge funds have been actively increasing their holdings in Johnson & Johnson, with Caisse DE Depot ET Placement DU Quebec boosting its stake by 22.6%.
• Analysts have raised their price targets for the stock, with UBS Group increasing theirs from $180.00 to $190.00 and Citigroup from $185.00 to $200.00, both maintaining a "buy" rating.

Gamco Investors INC. ET AL cut its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 6.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 86,714 shares of the company's stock after selling 6,220 shares during the period. Gamco Investors INC. ET AL's holdings in Johnson & Johnson were worth $14,381,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Widmann Financial Services Inc. increased its holdings in Johnson & Johnson by 2.4% in the first quarter. Widmann Financial Services Inc. now owns 15,335 shares of the company's stock valued at $2,543,000 after buying an additional 356 shares in the last quarter. Potomac Fund Management Inc. ADV increased its holdings in Johnson & Johnson by 5.0% in the first quarter. Potomac Fund Management Inc. ADV now owns 4,535 shares of the company's stock valued at $712,000 after buying an additional 216 shares in the last quarter. WealthTrust Axiom LLC increased its holdings in Johnson & Johnson by 3.8% in the first quarter. WealthTrust Axiom LLC now owns 20,507 shares of the company's stock valued at $3,401,000 after buying an additional 760 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in Johnson & Johnson by 22.6% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,601,147 shares of the company's stock valued at $597,214,000 after buying an additional 664,556 shares in the last quarter. Finally, Talisman Wealth Advisors LLC increased its holdings in Johnson & Johnson by 2.8% in the first quarter. Talisman Wealth Advisors LLC now owns 13,170 shares of the company's stock valued at $2,184,000 after buying an additional 355 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the stock. UBS Group increased their price target on shares of Johnson & Johnson from $180.00 to $190.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Citigroup increased their price target on shares of Johnson & Johnson from $185.00 to $200.00 and gave the company a "buy" rating in a research report on Thursday, August 21st. Barclays increased their price target on shares of Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Guggenheim reiterated a "neutral" rating and issued a $167.00 price target (up from $164.00) on shares of Johnson & Johnson in a research report on Thursday, July 17th. Finally, Wall Street Zen lowered shares of Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Johnson & Johnson currently has an average rating of "Moderate Buy" and a consensus price target of $176.29.

Johnson & Johnson Stock Down 1.0%

Shares of NYSE JNJ opened at $176.63 on Wednesday. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $181.16. The firm's 50 day moving average price is $164.44 and its 200 day moving average price is $159.60. The firm has a market cap of $425.39 billion, a P/E ratio of 18.89, a price-to-earnings-growth ratio of 2.27 and a beta of 0.41. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $22.85 billion. During the same quarter last year, the business earned $2.82 earnings per share. Johnson & Johnson'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. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

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

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