Harvest Portfolios Group Inc. Has $57.17 Million Stock Position in Johnson & Johnson $JNJ

Key Points

• Harvest Portfolios Group Inc. has reduced its stake in Johnson & Johnson by 30%, now holding 344,702 shares valued at approximately $57.17 million, making it the firm's 13th largest holding.
• Johnson & Johnson's most recent quarter reported earnings of $2.77 per share, surpassing expectations, while revenue rose by 5.8% year-over-year to $23.74 billion.
• The company has announced a quarterly dividend of $1.30 per share, reflecting a yield of 2.9%, with a payout ratio of 55.61%.

Harvest Portfolios Group Inc. lessened its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 30.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 344,702 shares of the company's stock after selling 147,763 shares during the period. Johnson & Johnson accounts for 1.7% of Harvest Portfolios Group Inc.'s holdings, making the stock its 13th biggest holding. Harvest Portfolios Group Inc.'s holdings in Johnson & Johnson were worth $57,165,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Widmann Financial Services Inc. lifted its holdings in shares of Johnson & Johnson by 2.4% during the first quarter. Widmann Financial Services Inc. now owns 15,335 shares of the company's stock worth $2,543,000 after purchasing an additional 356 shares during the period. Potomac Fund Management Inc. ADV lifted its holdings in shares of Johnson & Johnson by 5.0% during the first quarter. Potomac Fund Management Inc. ADV now owns 4,535 shares of the company's stock worth $712,000 after purchasing an additional 216 shares during the period. WealthTrust Axiom LLC lifted its holdings in shares of Johnson & Johnson by 3.8% during the first quarter. WealthTrust Axiom LLC now owns 20,507 shares of the company's stock worth $3,401,000 after purchasing an additional 760 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Johnson & Johnson by 22.6% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,601,147 shares of the company's stock worth $597,214,000 after purchasing an additional 664,556 shares during the period. Finally, Talisman Wealth Advisors LLC lifted its holdings in shares of Johnson & Johnson by 2.8% during the first quarter. Talisman Wealth Advisors LLC now owns 13,170 shares of the company's stock worth $2,184,000 after purchasing an additional 355 shares during the period. Institutional investors and hedge funds own 69.55% of the company's stock.

Johnson & Johnson Trading Down 0.4%

NYSE:JNJ opened at $178.53 on Tuesday. 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 firm has a 50-day moving average of $163.95 and a 200-day moving average of $159.48. The company has a market cap of $429.96 billion, a PE ratio of 19.09, a PEG ratio of 2.28 and a beta of 0.41. Johnson & Johnson has a one year low of $140.68 and a one year high of $181.16.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping 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 analysts' expectations of $22.85 billion. During the same period in the previous year, the company earned $2.82 earnings per share. The firm's revenue for the quarter 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 expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The business 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. This represents a $5.20 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson's payout ratio is presently 55.61%.

Analysts Set New Price Targets

JNJ has been the topic of several recent analyst reports. Leerink Partners lowered shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $169.00 to $153.00 in a report on Tuesday, May 13th. Guggenheim reaffirmed a "neutral" rating and issued a $167.00 price target (up from $164.00) on shares of Johnson & Johnson in a research note on Thursday, July 17th. Morgan Stanley lifted their price target on shares of Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Royal Bank Of Canada lifted their price target on shares of Johnson & Johnson from $181.00 to $185.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Finally, Erste Group Bank raised shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $176.29.

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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