Global Assets Advisory LLC Trims Stake in Johnson & Johnson $JNJ

Key Points

• Global Assets Advisory LLC has reduced its stake in Johnson & Johnson by 54%, selling 10,665 shares and holding 9,070 shares valued at $1.41 million as of the end of the second quarter.
• Several other institutional investors, including Vanguard Group and Bank of New York Mellon, have increased their positions, with 69.55% of the stock owned by hedge funds and other institutional investors.
• Johnson & Johnson reported earnings of $2.77 EPS for its last quarter, exceeding estimates, with projected annual earnings set at $10.58 EPS for the current fiscal year.

Global Assets Advisory LLC reduced its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 54.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 9,070 shares of the company's stock after selling 10,665 shares during the period. Global Assets Advisory LLC's holdings in Johnson & Johnson were worth $1,414,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in Johnson & Johnson by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 233,962,679 shares of the company's stock valued at $38,800,371,000 after acquiring an additional 1,170,120 shares during the period. Northern Trust Corp increased its position in Johnson & Johnson by 0.4% in the 1st quarter. Northern Trust Corp now owns 30,943,820 shares of the company's stock valued at $5,131,723,000 after acquiring an additional 130,645 shares during the period. Bank of New York Mellon Corp increased its position in Johnson & Johnson by 26.4% in the 1st quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock valued at $3,844,580,000 after acquiring an additional 4,842,582 shares during the period. Charles Schwab Investment Management Inc. increased its position in Johnson & Johnson by 3.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,899,263 shares of the company's stock valued at $3,133,602,000 after acquiring an additional 712,181 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in Johnson & Johnson by 2.5% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 18,282,410 shares of the company's stock valued at $3,031,955,000 after acquiring an additional 448,666 shares during the period. 69.55% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the company'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 value of $10,041,108.51. Following the sale, the executive vice president owned 178,013 shares of the company's stock, valued at approximately $31,652,491.53. This represents a 24.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.16% of the company's stock.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $188.95 on Wednesday. The business's 50 day simple moving average is $177.04 and its 200-day simple moving average is $163.18. The firm has a market capitalization of $455.06 billion, a price-to-earnings ratio of 20.21, a price-to-earnings-growth ratio of 2.40 and a beta of 0.40. 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 has a 12 month low of $140.68 and a 12 month high of $189.92.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, topping the consensus estimate 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 return on equity of 32.49% and a net margin of 25.00%.The company's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.82 EPS. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. As a group, equities analysts forecast 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 was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, August 26th. This represents a $5.20 annualized dividend and a dividend yield of 2.8%. Johnson & Johnson's payout ratio is 55.61%.

Analysts Set New Price Targets

JNJ has been the topic of several recent research reports. Citigroup boosted their price target on Johnson & Johnson from $200.00 to $213.00 and gave the company a "buy" rating in a research report on Tuesday. Erste Group Bank upgraded Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Barclays boosted their target price 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. Wells Fargo & Company set a $212.00 target price on Johnson & Johnson and gave the stock an "overweight" rating in a research report on Friday. Finally, Morgan Stanley boosted 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. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $189.88.

About Johnson & Johnson

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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