Gitterman Wealth Management LLC Has $2.32 Million Stake in Johnson & Johnson $JNJ

Key Points

• Gitterman Wealth Management LLC has reduced its stake in Johnson & Johnson by 15.6%, now holding $2.32 million worth of shares, making it the 13th largest holding in their portfolio.
• Johnson & Johnson reported earnings of $2.77 EPS, exceeding analysts' expectations, with a revenue of $23.74 billion for the quarter, a 5.8% increase compared to the previous year.
• The company has declared a quarterly dividend of $1.30 per share, representing an annualized dividend yield of 2.9%.

Gitterman Wealth Management LLC cut its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 15.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,014 shares of the company's stock after selling 2,582 shares during the quarter. Johnson & Johnson comprises 0.6% of Gitterman Wealth Management LLC's portfolio, making the stock its 13th biggest holding. Gitterman Wealth Management LLC's holdings in Johnson & Johnson were worth $2,324,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in JNJ. Highline Wealth Partners LLC boosted its holdings in shares of Johnson & Johnson by 51.8% during the first 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 period. Stone House Investment Management LLC bought a new stake in Johnson & Johnson in the 1st quarter valued at $47,000. von Borstel & Associates Inc. bought a new position in Johnson & Johnson during the 1st quarter worth $49,000. Capital A Wealth Management LLC acquired a new stake in shares of Johnson & Johnson during the fourth quarter worth $50,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Johnson & Johnson in the first quarter valued at about $52,000. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $178.8990 on Friday. Johnson & Johnson has a one year low of $140.68 and a one year high of $180.61. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. The company has a market cap of $430.85 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 2.28 and a beta of 0.41. The firm has a 50 day simple moving average of $163.04 and a 200 day simple moving average of $159.05.

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 analysts' consensus estimates of $2.68 by $0.09. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%.The business had revenue of $23.74 billion during the quarter, compared to analysts' expectations of $22.85 billion. During the same quarter in the prior year, the firm earned $2.82 EPS. The business's revenue for the quarter 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. Research analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be given a $1.30 dividend. The ex-dividend date is Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.9%. Johnson & Johnson's payout ratio is 55.61%.

Analysts Set New Price Targets

JNJ has been the topic of several recent research reports. Leerink Partnrs cut shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Wall Street Zen downgraded Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. Barclays raised their price target on Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Bank of America increased their price objective on shares of Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Finally, Citigroup upped their price target on shares of Johnson & Johnson from $185.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $176.29.

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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