Hodges Capital Management Inc. Decreases Stake in Johnson & Johnson $JNJ

Key Points

• Hodges Capital Management Inc. reduced its stake in Johnson & Johnson by 44.8%, bringing its total shares down to 9,023, valued at approximately $1.5 million.
• Multiple institutional investors increased their holdings in Johnson & Johnson, with Vanguard Group acquiring an additional 1,170,120 shares in the first quarter.
• Johnson & Johnson's stock remains a focus for brokerages, as Citigroup and Royal Bank Of Canada raised their price targets significantly, while the stock has a current consensus rating of "Moderate Buy."

Hodges Capital Management Inc. lowered its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 44.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 9,023 shares of the company's stock after selling 7,334 shares during the quarter. Hodges Capital Management Inc.'s holdings in Johnson & Johnson were worth $1,496,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Johnson & Johnson by 0.5% in the first quarter. Vanguard Group Inc. now owns 233,962,679 shares of the company's stock valued at $38,800,371,000 after acquiring an additional 1,170,120 shares in the last quarter. Northern Trust Corp grew its position in Johnson & Johnson by 0.4% in the first quarter. Northern Trust Corp now owns 30,943,820 shares of the company's stock valued at $5,131,723,000 after acquiring an additional 130,645 shares in the last quarter. Bank of New York Mellon Corp grew its position in Johnson & Johnson by 26.4% in the first 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 acquiring an additional 4,842,582 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Johnson & Johnson by 3.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,899,263 shares of the company's stock valued at $3,133,602,000 after acquiring an additional 712,181 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Johnson & Johnson by 2.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 18,282,410 shares of the company's stock valued at $3,031,955,000 after acquiring an additional 448,666 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company's stock.

Insider Transactions at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the firm's 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 transaction, the executive vice president directly owned 178,013 shares in the company, valued at $31,652,491.53. This trade represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.16% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on JNJ. Citigroup increased their price objective on shares of Johnson & Johnson from $185.00 to $200.00 and gave the company a "buy" rating in a research report on Thursday, August 21st. Barclays increased 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 report on Thursday, July 17th. Erste Group Bank raised shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. 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 research report on Thursday, July 17th. Finally, Royal Bank Of Canada raised their price target on shares of Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, Johnson & Johnson presently has a consensus rating of "Moderate Buy" and an average price target of $176.29.

Johnson & Johnson Stock Down 0.2%

JNJ stock opened at $178.10 on Friday. The firm has a 50 day simple moving average of $170.81 and a 200-day simple moving average of $161.30. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $181.16. The company has a market capitalization of $428.93 billion, a P/E ratio of 19.05, a PEG ratio of 2.27 and a beta of 0.40. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.09. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%.The firm had revenue of $23.74 billion for the quarter, compared to analysts' expectations of $22.85 billion. During the same period last year, the business posted $2.82 earnings per share. The firm'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. On average, equities research analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

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 dividend of $1.30 per share. The ex-dividend date was Tuesday, August 26th. This represents a $5.20 annualized dividend and a yield of 2.9%. Johnson & Johnson's dividend payout ratio (DPR) is 55.61%.

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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