Gotham Asset Management LLC Decreases Stock Holdings in Johnson & Johnson $JNJ

Key Points

• Gotham Asset Management LLC reduced its holdings in Johnson & Johnson by 50.6%, selling 100,695 shares and retaining 98,432 shares, worth approximately $16.3 million.
• Several large investors adjusted their positions in Johnson & Johnson, with Nuveen LLC purchasing over $1.36 billion in new shares and GAMMA Investing LLC increasing its stake by over 24,450.4%.
• Johnson & Johnson is currently rated as a Moderate Buy by analysts, with an average target price reflecting a boost from various firms, including Citigroup raising their estimate to $200.00.

Gotham Asset Management LLC lowered its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 50.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 98,432 shares of the company's stock after selling 100,695 shares during the period. Gotham Asset Management LLC's holdings in Johnson & Johnson were worth $16,324,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Nuveen LLC bought a new position in Johnson & Johnson during the first quarter valued at about $1,369,188,000. GAMMA Investing LLC boosted its stake in Johnson & Johnson by 24,450.4% in the first quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company's stock valued at $1,196,596,000 after acquiring an additional 7,185,977 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Johnson & Johnson by 26.4% during 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. Janus Henderson Group PLC increased its stake in shares of Johnson & Johnson by 134.5% during the 4th quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company's stock worth $1,149,536,000 after purchasing an additional 4,559,147 shares during the last quarter. Finally, Pacer Advisors Inc. raised its holdings in shares of Johnson & Johnson by 1,382.0% in the 1st quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company's stock worth $502,509,000 after purchasing an additional 2,825,626 shares during the period. 69.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on JNJ shares. UBS Group increased their price objective on Johnson & Johnson from $180.00 to $190.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Leerink Partnrs downgraded Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Erste Group Bank upgraded Johnson & Johnson from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Citigroup upped their price objective on shares of Johnson & Johnson from $185.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, August 21st. Finally, Piper Sandler reiterated an "overweight" rating on shares of Johnson & Johnson in a research note 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 given a Hold rating to the company's stock. Based on data from MarketBeat.com, Johnson & Johnson presently has an average rating of "Moderate Buy" and an average target price of $176.29.

Insider Buying and Selling

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the business's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the completion of the transaction, the executive vice president directly owned 178,013 shares in the company, valued at $31,652,491.53. The trade was a 24.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is currently owned by insiders.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $178.20 on Friday. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $181.16. The stock's 50-day simple moving average is $168.57 and its 200 day simple moving average is $160.76. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01. The stock has a market capitalization of $429.15 billion, a price-to-earnings ratio of 19.06, a price-to-earnings-growth ratio of 2.28 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its earnings results 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. 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 analyst estimates of $22.85 billion. During the same quarter in the previous year, the firm earned $2.82 EPS. The company's quarterly 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. Research analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

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