Independence Bank of Kentucky Sells 1,529 Shares of Johnson & Johnson $JNJ

Key Points

• Independence Bank of Kentucky reduced its stake in Johnson & Johnson by 3.4%, selling 1,529 shares but still holds 42,875 shares valued at $6.55 million, making it the bank's 19th largest holding.
• Johnson & Johnson's shares opened at $181.63 and have a market capitalization of $437.43 billion, with a debt-to-equity ratio of 0.50 and a PE ratio of 19.43.
• The company recently declared a quarterly dividend of $1.30 per share, translating to an annualized dividend of $5.20, with a yield of 2.9% and a payout ratio of 55.61%.

Independence Bank of Kentucky decreased its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 3.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,875 shares of the company's stock after selling 1,529 shares during the quarter. Johnson & Johnson comprises 0.9% of Independence Bank of Kentucky's holdings, making the stock its 19th largest holding. Independence Bank of Kentucky's holdings in Johnson & Johnson were worth $6,549,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Highline Wealth Partners LLC boosted its position in shares of Johnson & Johnson by 51.8% during the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock valued at $42,000 after buying an additional 86 shares during the last quarter. Stone House Investment Management LLC purchased a new position in shares of Johnson & Johnson during the first quarter valued at approximately $47,000. 1248 Management LLC purchased a new position in shares of Johnson & Johnson during the first quarter valued at approximately $48,000. von Borstel & Associates Inc. purchased a new position in shares of Johnson & Johnson during the first quarter valued at approximately $49,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Johnson & Johnson during the first quarter valued at approximately $52,000. Institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Up 1.1%

Shares of NYSE JNJ opened at $181.63 on Tuesday. Johnson & Johnson has a one year low of $140.68 and a one year high of $181.87. 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 business's fifty day moving average price is $174.76 and its 200-day moving average price is $162.18. The stock has a market capitalization of $437.43 billion, a PE ratio of 19.43, a P/E/G ratio of 2.29 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings results 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 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 quarter in the prior year, the firm earned $2.82 EPS. The business'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. On average, equities research analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Tuesday, August 26th. Johnson & Johnson's dividend payout ratio is currently 55.61%.

Insider Activity at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the company'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 owned 178,013 shares of the company's stock, valued at $31,652,491.53. This represents a 24.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

JNJ has been the topic of several analyst reports. UBS Group lifted their target price on Johnson & Johnson from $180.00 to $190.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. The Goldman Sachs Group lifted their target price on Johnson & Johnson from $185.00 to $186.00 and gave the company a "buy" rating in a research report on Friday, September 19th. Bank of America lifted their target price on Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Guggenheim raised Johnson & Johnson from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $167.00 to $206.00 in a research report on Tuesday, September 23rd. Finally, Erste Group Bank raised Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Johnson & Johnson presently has a consensus rating of "Moderate Buy" and an average price target of $181.40.

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.

Want to see what other hedge funds are holding JNJ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Johnson & Johnson (NYSE:JNJ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.