Harrell Investment Partners LLC Raises Position in Johnson & Johnson $JNJ

Key Points

• Harrell Investment Partners LLC increased its stake in Johnson & Johnson by 8.2%, now holding 38,399 shares worth approximately $5.9 million, making it the 19th largest position in their portfolio.
• An insider transaction occurred where EVP Jennifer L. Taubert sold 56,471 shares of the company at an average price of $177.81, bringing her total ownership to about $31.7 million after a 24.08% decrease in her position.
• Analysts are generally optimistic about Johnson & Johnson, with an average rating of "Moderate Buy" and a consensus price target of $181.40, reflecting several upward revisions in their price targets recently.

Harrell Investment Partners LLC increased its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 8.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,399 shares of the company's stock after purchasing an additional 2,913 shares during the quarter. Johnson & Johnson makes up approximately 1.5% of Harrell Investment Partners LLC's investment portfolio, making the stock its 19th largest position. Harrell Investment Partners LLC's holdings in Johnson & Johnson were worth $5,865,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC increased its holdings in shares of Johnson & Johnson by 51.8% in the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock valued at $42,000 after purchasing an additional 86 shares during the last quarter. Stone House Investment Management LLC purchased a new stake in Johnson & Johnson in the 1st quarter valued at $47,000. 1248 Management LLC acquired a new stake in shares of Johnson & Johnson in the 1st quarter worth $48,000. von Borstel & Associates Inc. purchased a new position in shares of Johnson & Johnson during the 1st quarter worth $49,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Johnson & Johnson during the 1st quarter valued at about $52,000. Hedge funds and other institutional investors own 69.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Morgan Stanley raised their price target on shares of Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Piper Sandler reissued an "overweight" rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Erste Group Bank raised Johnson & Johnson from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. The Goldman Sachs Group raised their price objective on Johnson & Johnson from $185.00 to $186.00 and gave the stock a "buy" rating in a research report on Friday, September 19th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Johnson & Johnson from $185.00 to $200.00 and gave the company a "neutral" rating in a report on Tuesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have assigned 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 $181.40.

Insider Transactions at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the company's stock in a transaction dated 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 directly 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 legal filing with the SEC, which can be accessed through this link. 0.16% of the stock is owned by company insiders.

Johnson & Johnson Stock Up 0.6%

Shares of NYSE:JNJ opened at $177.71 on Friday. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $181.16. The firm's 50 day moving average price is $174.09 and its 200 day moving average price is $161.97. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. The stock has a market cap of $427.99 billion, a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 2.25 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating 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 company had revenue of $23.74 billion for the quarter, compared to the consensus estimate of $22.85 billion. During the same period in the prior year, the firm posted $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. As a group, equities research analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders 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 dividend on an annualized basis and a yield of 2.9%. Johnson & Johnson's dividend payout ratio (DPR) is currently 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.

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