Grimes & Company Inc. Boosts Holdings in Johnson & Johnson $JNJ

Key Points

• Grimes & Company Inc. increased its holdings in Johnson & Johnson by 3.4% during Q2, owning 106,981 shares valued at approximately $16.34 million.
• Johnson & Johnson reported earnings of $2.77 EPS for the latest quarter, surpassing estimates and showing a 5.8% year-over-year revenue increase to $23.74 billion.
• The company declared a quarterly dividend of $1.30 per share, yielding 2.8%, with a payout ratio of 55.61%.

Grimes & Company Inc. lifted its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 3.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 106,981 shares of the company's stock after purchasing an additional 3,544 shares during the period. Grimes & Company Inc.'s holdings in Johnson & Johnson were worth $16,341,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Highline Wealth Partners LLC lifted its position in shares of Johnson & Johnson by 51.8% in the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock worth $42,000 after purchasing an additional 86 shares during the period. Stone House Investment Management LLC purchased a new position in Johnson & Johnson during the 1st quarter valued at about $47,000. 1248 Management LLC purchased a new position in Johnson & Johnson during the 1st quarter valued at about $48,000. von Borstel & Associates Inc. purchased a new position in Johnson & Johnson during the 1st quarter valued at about $49,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in Johnson & Johnson during the 1st quarter valued at about $52,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $188.95 on Wednesday. The company has a 50 day moving average price of $177.04 and a 200-day moving average price of $163.18. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $189.92. The firm has a market capitalization of $455.06 billion, a PE ratio of 20.21, a P/E/G ratio of 2.40 and a beta of 0.40. 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 (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 analysts' consensus estimates of $2.68 by $0.09. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The firm had revenue of $23.74 billion during the quarter, compared to analyst estimates of $22.85 billion. During the same period in the previous year, the business 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. As a group, equities research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The firm 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. This represents a $5.20 annualized dividend and a yield of 2.8%. The ex-dividend date was Tuesday, August 26th. Johnson & Johnson's payout ratio is 55.61%.

Wall Street Analyst Weigh In

JNJ has been the subject of a number of recent research reports. Erste Group Bank raised shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Piper Sandler reissued an "overweight" rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Wells Fargo & Company set a $212.00 price target on shares of Johnson & Johnson and gave the company an "overweight" rating in a research report on Friday. Barclays raised their price objective on shares of Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Finally, Bank of America raised their price objective on shares of Johnson & Johnson from $175.00 to $198.00 and gave the company a "neutral" rating in a research note on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $189.88.

Insider Transactions at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president directly owned 178,013 shares in the company, valued at approximately $31,652,491.53. The trade was a 24.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.16% of the company's stock.

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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