Grant Private Wealth Management Inc Boosts Position in Johnson & Johnson $JNJ

Key Points

• Grant Private Wealth Management Inc significantly increased its stake in Johnson & Johnson, acquiring an additional 29,782 shares, bringing its total holdings to 32,081 shares, which now represent about 2.8% of its portfolio.
• Johnson & Johnson reported a quarterly earnings of $2.77 EPS, surpassing estimates, and expected a guidance for FY 2025 EPS of 10.800-10.900.
• The company declared a quarterly dividend of $1.30, resulting in an annual yield of 3.0% for its shareholders.

Grant Private Wealth Management Inc grew its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 1,295.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,081 shares of the company's stock after purchasing an additional 29,782 shares during the period. Johnson & Johnson makes up 2.8% of Grant Private Wealth Management Inc's investment portfolio, making the stock its 15th largest holding. Grant Private Wealth Management Inc's holdings in Johnson & Johnson were worth $4,900,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Highline Wealth Partners LLC boosted its stake in 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 in the last quarter. Stone House Investment Management LLC bought a new stake in Johnson & Johnson during the first quarter worth about $47,000. 1248 Management LLC bought a new stake in Johnson & Johnson during the first quarter worth about $48,000. von Borstel & Associates Inc. bought a new stake in Johnson & Johnson during the first quarter worth about $49,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in Johnson & Johnson during the first quarter worth about $52,000. Institutional investors own 69.55% of the company's stock.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Citigroup boosted their price objective on shares of Johnson & Johnson from $185.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, August 21st. Bank of America lifted their target price on shares of Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. UBS Group lifted their target price on shares of Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. JPMorgan Chase & Co. lifted their target price on shares of Johnson & Johnson from $185.00 to $200.00 and gave the stock a "neutral" rating in a report on Tuesday, September 16th. Finally, Piper Sandler reaffirmed an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $181.40.

Johnson & Johnson Price Performance

Johnson & Johnson stock traded up $2.25 during mid-day trading on Tuesday, reaching $176.46. 3,549,258 shares of the company's stock traded hands, compared to its average volume of 8,916,790. The company has a market cap of $424.98 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 2.24 and a beta of 0.40. The stock has a 50 day moving average of $173.14 and a two-hundred day moving average of $161.69. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $181.16.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.09. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The business had revenue of $23.74 billion for the quarter, compared to the consensus estimate of $22.85 billion. During the same quarter in the prior year, the firm posted $2.82 earnings per share. The business's revenue for the quarter was up 5.8% on a year-over-year basis. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. Equities analysts forecast 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 was paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was 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 is presently 55.61%.

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.