Johnson & Johnson $JNJ Shares Bought by PUREfi Wealth LLC

Key Points

• PUREfi Wealth LLC increased its stake in Johnson & Johnson shares by 21.5% during the second quarter, owning 8,548 shares valued at approximately $1.3 million.
• According to recent analysts' reports, Johnson & Johnson's price target has been raised by multiple firms, with Citigroup setting it at $213.00 and Bank of America at $198.00.
• Johnson & Johnson declared a quarterly dividend of $1.30, yielding 2.8% annually, with a current payout ratio of 55.61%.

PUREfi Wealth LLC boosted its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 21.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,548 shares of the company's stock after acquiring an additional 1,514 shares during the quarter. Johnson & Johnson comprises 1.0% of PUREfi Wealth LLC's investment portfolio, making the stock its 18th biggest holding. PUREfi Wealth LLC's holdings in Johnson & Johnson were worth $1,306,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Apexium Financial LP increased its stake in Johnson & Johnson by 10.7% in the 1st quarter. Apexium Financial LP now owns 23,989 shares of the company's stock valued at $3,978,000 after purchasing an additional 2,310 shares in the last quarter. Avanza Fonder AB boosted its holdings in shares of Johnson & Johnson by 2.9% during the second quarter. Avanza Fonder AB now owns 234,647 shares of the company's stock worth $35,842,000 after purchasing an additional 6,566 shares during the last quarter. Joel Isaacson & Co. LLC boosted its holdings in shares of Johnson & Johnson by 3.5% during the first quarter. Joel Isaacson & Co. LLC now owns 74,132 shares of the company's stock worth $12,294,000 after purchasing an additional 2,526 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Johnson & Johnson by 7.0% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 73,350 shares of the company's stock worth $12,164,000 after purchasing an additional 4,816 shares during the last quarter. Finally, Range Financial Group LLC boosted its holdings in Johnson & Johnson by 18.9% in the first quarter. Range Financial Group LLC now owns 15,886 shares of the company's stock valued at $2,635,000 after acquiring an additional 2,529 shares during the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Royal Bank Of Canada lifted their target price on Johnson & Johnson from $181.00 to $185.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Barclays boosted their price objective on Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Citigroup boosted their price objective on Johnson & Johnson from $200.00 to $213.00 and gave the stock a "buy" rating in a research note on Tuesday. Bank of America lifted their target price on Johnson & Johnson from $175.00 to $198.00 and gave the stock a "neutral" rating in a research report on Friday, October 3rd. Finally, HSBC lifted their target price on Johnson & Johnson from $188.00 to $210.00 in a research report on Tuesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Johnson & Johnson has a consensus rating of "Moderate Buy" and a consensus price target of $189.88.

Insiders Place Their Bets

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the company's 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 completion of the transaction, the executive vice president directly owned 178,013 shares of the company's stock, valued at approximately $31,652,491.53. This represents a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Johnson & Johnson Stock Up 0.4%

Shares of Johnson & Johnson stock opened at $188.95 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. The firm has a market cap of $455.06 billion, a P/E ratio of 20.21, a P/E/G ratio of 2.40 and a beta of 0.40. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $189.92. The business has a 50-day moving average price of $177.04 and a 200 day moving average price of $163.18.

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 for the quarter, beating the consensus estimate of $2.68 by $0.09. The firm had revenue of $23.74 billion during the quarter, compared to analyst estimates of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%.Johnson & Johnson's quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.82 earnings per share. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. On average, sell-side analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Tuesday, August 26th. Johnson & Johnson's payout ratio 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.

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