Johnson & Johnson $JNJ Shares Bought by Platinum Investment Management Ltd.

Key Points

• Platinum Investment Management Ltd. increased its stake in Johnson & Johnson by 1,122.8% during the second quarter, adding 403,566 shares to bring its total to 439,508 shares, valued at approximately $67.1 million.
• Johnson & Johnson recently reported earnings per share (EPS) of $2.77, exceeding analysts' expectations, and had a revenue increase of 5.8% year-over-year, reaching $23.74 billion.
• The company declared a quarterly dividend of $1.30 per share, resulting in an annualized dividend of $5.20, which represents a yield of 2.8%.

Platinum Investment Management Ltd. boosted its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 1,122.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 439,508 shares of the company's stock after buying an additional 403,566 shares during the period. Johnson & Johnson makes up 4.5% of Platinum Investment Management Ltd.'s holdings, making the stock its 11th largest position. Platinum Investment Management Ltd.'s holdings in Johnson & Johnson were worth $67,135,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of JNJ. Brighton Jones LLC increased its holdings in shares of Johnson & Johnson by 13.9% in the fourth quarter. Brighton Jones LLC now owns 51,876 shares of the company's stock valued at $7,502,000 after purchasing an additional 6,332 shares during the period. Matrix Trust Co increased its holdings in shares of Johnson & Johnson by 17.5% in the first quarter. Matrix Trust Co now owns 982 shares of the company's stock valued at $163,000 after purchasing an additional 146 shares during the period. Wealth Group Ltd. acquired a new position in shares of Johnson & Johnson in the first quarter valued at about $218,000. Vest Financial LLC increased its holdings in shares of Johnson & Johnson by 10.7% in the first quarter. Vest Financial LLC now owns 405,364 shares of the company's stock valued at $67,226,000 after purchasing an additional 39,217 shares during the period. Finally, AMI Investment Management Inc. increased its holdings in shares of Johnson & Johnson by 3.3% in the first quarter. AMI Investment Management Inc. now owns 26,344 shares of the company's stock valued at $4,369,000 after purchasing an additional 852 shares during the period. 69.55% of the stock is owned by institutional investors and hedge funds.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $188.51 on Friday. The company has a market capitalization of $453.98 billion, a P/E ratio of 20.16, a P/E/G ratio of 2.37 and a beta of 0.40. The business's 50 day moving average is $176.18 and its two-hundred day moving average is $162.83. 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 has a 12-month low of $140.68 and a 12-month high of $189.78.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $0.09. The company had revenue of $23.74 billion for the quarter, compared to the consensus estimate of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%.Johnson & Johnson's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.82 earnings per share. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. Analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th were given a dividend of $1.30 per share. The ex-dividend date was Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a yield of 2.8%. Johnson & Johnson's dividend payout ratio is currently 55.61%.

Insider Transactions at Johnson & Johnson

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $31,652,491.53. This represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.16% of the company's stock.

Analyst Upgrades and Downgrades

JNJ has been the topic of a number of research reports. Wells Fargo & Company set a $212.00 price objective on Johnson & Johnson and gave the company an "overweight" rating in a report on Friday. Erste Group Bank upgraded Johnson & Johnson from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Weiss Ratings restated a "hold (c+)" rating on shares of Johnson & Johnson in a research note on Saturday, September 27th. UBS Group set a $198.00 target price on Johnson & Johnson in a research note on Friday. Finally, JPMorgan Chase & Co. upped their target price on Johnson & Johnson from $185.00 to $200.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $187.47.

Johnson & Johnson 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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