Great Lakes Advisors LLC Trims Stake in Johnson & Johnson $JNJ

Key Points

• Great Lakes Advisors LLC reduced its holdings in Johnson & Johnson by 9.4%, now owning 261,910 shares valued at approximately $43.21 million.
• Insider selling was noted as EVP Jennifer L. Taubert sold 56,471 shares for over $10 million, decreasing her stake by 24.08%.
• Johnson & Johnson announced a quarterly dividend of $1.30 per share, with a yield of 2.9% and a payout ratio of 55.61%.

Great Lakes Advisors LLC trimmed its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 9.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 261,910 shares of the company's stock after selling 27,327 shares during the quarter. Great Lakes Advisors LLC's holdings in Johnson & Johnson were worth $43,214,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Johnson & Johnson by 0.5% in the first quarter. Vanguard Group Inc. now owns 233,962,679 shares of the company's stock worth $38,800,371,000 after acquiring an additional 1,170,120 shares in the last quarter. Northern Trust Corp raised its position in shares of Johnson & Johnson by 0.4% during the first quarter. Northern Trust Corp now owns 30,943,820 shares of the company's stock worth $5,131,723,000 after purchasing an additional 130,645 shares during the period. Bank of New York Mellon Corp grew 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 purchasing an additional 4,842,582 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Johnson & Johnson by 3.9% during 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 purchasing an additional 712,181 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Johnson & Johnson by 2.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 18,282,410 shares of the company's stock worth $3,031,955,000 after buying an additional 448,666 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on JNJ. Wall Street Zen cut shares of Johnson & Johnson from a "buy" rating to a "hold" rating in a report on Friday, September 5th. Barclays lifted their price target on Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. UBS Group raised their target price on Johnson & Johnson from $180.00 to $190.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Morgan Stanley lifted their target price on Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Finally, Guggenheim reissued 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. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, Johnson & Johnson presently has an average rating of "Moderate Buy" and a consensus price target of $176.29.

Insider Transactions at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction on Thursday, September 4th. The stock was 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 owned 178,013 shares in the company, valued at approximately $31,652,491.53. This represents a 24.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock traded down $1.26 during trading hours on Wednesday, hitting $175.70. 6,890,535 shares of the company's stock traded hands, compared to its average volume of 7,620,031. The stock has a market capitalization of $423.15 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 2.25 and a beta of 0.40. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $181.16. 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 fifty day simple moving average of $169.51 and a 200-day simple moving average of $161.02.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly 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. The company had revenue of $23.74 billion during the quarter, compared to analyst estimates of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The firm's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.82 earnings per share. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. Equities research analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th were paid a $1.30 dividend. The ex-dividend date was Tuesday, August 26th. This represents a $5.20 annualized dividend and a yield of 3.0%. Johnson & Johnson's dividend payout ratio is presently 55.61%.

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.