NewEdge Advisors LLC Purchases 38,425 Shares of Johnson & Johnson $JNJ

Key Points

• NewEdge Advisors LLC increased its holdings in Johnson & Johnson by 13.0% during the first quarter, bringing their total ownership to 333,821 shares valued at $55.36 million.
• Johnson & Johnson reported $2.77 earnings per share for the last quarter, surpassing estimates, and had a revenue of $23.74 billion, which was higher than analysts' expectations.
• The company announced a quarterly dividend of $1.30 per share, with an annualized yield of 2.9%, to be paid on September 9th.

NewEdge Advisors LLC raised its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 13.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 333,821 shares of the company's stock after buying an additional 38,425 shares during the quarter. NewEdge Advisors LLC's holdings in Johnson & Johnson were worth $55,361,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of JNJ. Brighton Jones LLC raised its position in Johnson & Johnson by 13.9% in the 4th 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 last quarter. Hudson Value Partners LLC grew its stake in shares of Johnson & Johnson by 2.5% during the fourth quarter. Hudson Value Partners LLC now owns 41,403 shares of the company's stock worth $5,648,000 after purchasing an additional 1,022 shares during the period. Corton Capital Inc. bought a new position in Johnson & Johnson during the fourth quarter worth about $205,000. CoreCap Advisors LLC boosted its position in shares of Johnson & Johnson by 8.1% during the fourth quarter. CoreCap Advisors LLC now owns 17,667 shares of the company's stock worth $2,555,000 after buying an additional 1,318 shares during the period. Finally, Citizens Business Bank boosted its position in shares of Johnson & Johnson by 52.7% during the fourth quarter. Citizens Business Bank now owns 5,297 shares of the company's stock worth $766,000 after buying an additional 1,828 shares during the period. Institutional investors own 69.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on JNJ shares. UBS Group increased their target price on Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Guggenheim restated a "neutral" rating and set a $167.00 price objective (up previously from $164.00) on shares of Johnson & Johnson in a research report on Thursday, July 17th. Piper Sandler reaffirmed an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Leerink Partners lowered Johnson & Johnson from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $169.00 to $153.00 in a report on Tuesday, May 13th. Finally, Leerink Partnrs lowered Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $176.29.

Insiders Place Their Bets

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the company's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total value of $10,041,108.51. Following the completion of the transaction, the executive vice president owned 178,013 shares of the company's stock, valued at approximately $31,652,491.53. This represents a 24.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.16% of the company's stock.

Johnson & Johnson Trading Down 0.1%

Shares of NYSE:JNJ traded down $0.13 on Monday, reaching $178.30. 8,325,105 shares of the company traded hands, compared to its average volume of 8,962,990. The business's 50-day simple moving average is $168.57 and its 200 day simple moving average is $160.79. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $181.16. The stock has a market capitalization of $429.40 billion, a P/E ratio of 19.07, a price-to-earnings-growth ratio of 2.27 and a beta of 0.40. 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 (NYSE:JNJ - Get Free Report) last posted 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. 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 for the quarter, compared to analysts' expectations of $22.85 billion. During the same period in the previous year, the firm posted $2.82 EPS. The business's revenue 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, equities analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

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

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.