Panagora Asset Management Inc. Grows Position in Johnson & Johnson $JNJ

Key Points

• Panagora Asset Management Inc. increased its holdings in Johnson & Johnson shares by 27.1%, now owning approximately $76.89 million in stock, as reported in a recent SEC filing.
• Institutional investors collectively hold 69.55% of Johnson & Johnson's stock, indicating strong interest from larger investment firms.
• Johnson & Johnson recently announced a quarterly dividend of $1.30 per share, reflecting an annualized payout of $5.20, with a dividend yield of 2.9%.

Panagora Asset Management Inc. boosted its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 27.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 463,631 shares of the company's stock after purchasing an additional 98,955 shares during the quarter. Panagora Asset Management Inc.'s holdings in Johnson & Johnson were worth $76,889,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of JNJ. Highline Wealth Partners LLC boosted 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 acquiring an additional 86 shares during the period. Stone House Investment Management LLC acquired a new stake in shares of Johnson & Johnson in the first quarter valued at approximately $47,000. von Borstel & Associates Inc. acquired a new stake in shares of Johnson & Johnson in the first quarter valued at approximately $49,000. Capital A Wealth Management LLC acquired a new stake in shares of Johnson & Johnson in the fourth quarter valued at approximately $50,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Johnson & Johnson in the first quarter valued at approximately $52,000. 69.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Guggenheim reissued a "neutral" rating and issued a $167.00 price objective (up from $164.00) on shares of Johnson & Johnson in a report on Thursday, July 17th. Morgan Stanley increased their price objective on Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Barclays increased their price objective on Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Erste Group Bank upgraded Johnson & Johnson from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Finally, UBS Group upped their price target on Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $176.29.

Johnson & Johnson Price Performance

NYSE:JNJ traded up $1.65 during trading hours on Friday, hitting $177.10. The company's stock had a trading volume of 6,939,753 shares, compared to its average volume of 8,300,538. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $181.16. The company has a market capitalization of $426.52 billion, a PE ratio of 18.94, a PEG ratio of 2.26 and a beta of 0.40. The business's 50-day moving average is $165.99 and its two-hundred day moving average is $160.06. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share 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 business had revenue of $23.74 billion during the quarter, compared to analysts' expectations of $22.85 billion. During the same quarter last 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, research analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

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

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.