Johnson & Johnson $JNJ Shares Bought by Avity Investment Management Inc.

Key Points

• Avity Investment Management Inc. increased its stake in Johnson & Johnson by 5.3% during Q2, owning 254,363 shares valued at approximately $38.85 million, making it the 16th largest position in its portfolio.
• Johnson & Johnson reported a quarterly EPS of $2.77, surpassing expectations, with revenue of $23.74 billion, marking a 5.8% year-over-year increase.
• The company also declared a quarterly dividend of $1.30 per share, yielding 2.9%, with a payout ratio of 55.61% as of September 9th.

Avity Investment Management Inc. grew its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 5.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 254,363 shares of the company's stock after purchasing an additional 12,709 shares during the quarter. Johnson & Johnson makes up 2.9% of Avity Investment Management Inc.'s investment portfolio, making the stock its 16th largest position. Avity Investment Management Inc.'s holdings in Johnson & Johnson were worth $38,854,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Atwood & Palmer Inc. raised its holdings in shares of Johnson & Johnson by 6.7% in the 2nd quarter. Atwood & Palmer Inc. now owns 25,725 shares of the company's stock valued at $3,929,000 after purchasing an additional 1,616 shares in the last quarter. Martin Capital Partners LLC grew its position in Johnson & Johnson by 211.5% during the 2nd quarter. Martin Capital Partners LLC now owns 44,302 shares of the company's stock worth $6,767,000 after purchasing an additional 30,079 shares during the last quarter. Richard P Slaughter Associates Inc grew its position in Johnson & Johnson by 8.2% during the 2nd quarter. Richard P Slaughter Associates Inc now owns 7,866 shares of the company's stock worth $1,202,000 after purchasing an additional 596 shares during the last quarter. Canandaigua National Bank & Trust Co. lifted its stake in shares of Johnson & Johnson by 4.8% in the 2nd quarter. Canandaigua National Bank & Trust Co. now owns 95,686 shares of the company's stock worth $14,616,000 after acquiring an additional 4,392 shares during the period. Finally, Paladin Wealth LLC lifted its stake in shares of Johnson & Johnson by 6.3% in the 2nd quarter. Paladin Wealth LLC now owns 5,515 shares of the company's stock worth $842,000 after acquiring an additional 326 shares during the period. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Johnson & Johnson

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the business's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the completion of the sale, the executive vice president directly owned 178,013 shares in the company, valued at $31,652,491.53. The trade was a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $178.10 on Monday. 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 has a 1 year low of $140.68 and a 1 year high of $181.16. The firm has a 50 day moving average price of $170.81 and a 200 day moving average price of $161.27. The company has a market cap of $428.93 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 2.27 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released 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 net margin of 25.00% and a return on equity of 32.49%. The company had revenue of $23.74 billion during the quarter, compared to the consensus estimate of $22.85 billion. During the same period in the previous year, the firm earned $2.82 earnings per share. Johnson & Johnson'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. Sell-side analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

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

Analysts Set New Price Targets

Several analysts recently commented on JNJ shares. Citigroup raised their price objective on shares of Johnson & Johnson from $185.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. Erste Group Bank upgraded shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Piper Sandler reiterated an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Barclays lifted their price target on shares of Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Finally, Guggenheim reiterated a "neutral" rating and set a $167.00 price target (up from $164.00) on shares of Johnson & Johnson in a report 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 issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target 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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