Beck Mack & Oliver LLC Trims Stock Holdings in Johnson & Johnson $JNJ

Key Points

• Beck Mack & Oliver LLC reduced its holdings in Johnson & Johnson by 7.8%, selling 19,592 shares and ending the quarter with a total of 230,280 shares worth $38.19 million.
• Analysts have varied opinions on Johnson & Johnson, with price targets ranging from $153 to $185, and an overall average rating of "Moderate Buy" with a consensus price target of $176.29.
• Johnson & Johnson announced a quarterly dividend of $1.30, resulting in an annualized payout of $5.20 and a dividend yield of 2.9%, with the ex-dividend date set for August 26th.

Beck Mack & Oliver LLC lessened its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 7.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 230,280 shares of the company's stock after selling 19,592 shares during the quarter. Beck Mack & Oliver LLC's holdings in Johnson & Johnson were worth $38,190,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in JNJ. Vanguard Group Inc. increased its position in Johnson & Johnson by 0.5% during the first quarter. Vanguard Group Inc. now owns 233,962,679 shares of the company's stock worth $38,800,371,000 after buying an additional 1,170,120 shares during the period. Northern Trust Corp increased its holdings in shares of Johnson & Johnson by 0.4% in the first quarter. Northern Trust Corp now owns 30,943,820 shares of the company's stock valued at $5,131,723,000 after purchasing an additional 130,645 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Johnson & Johnson by 26.4% in the first quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock valued at $3,844,580,000 after purchasing an additional 4,842,582 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Johnson & Johnson by 3.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,899,263 shares of the company's stock valued at $3,133,602,000 after purchasing an additional 712,181 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Johnson & Johnson by 2.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 18,282,410 shares of the company's stock valued at $3,031,955,000 after buying an additional 448,666 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company's stock.

Wall Street Analysts Forecast Growth

JNJ has been the topic of a number of analyst reports. Royal Bank Of Canada lifted their price target on Johnson & Johnson from $181.00 to $185.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. UBS Group boosted their target price on Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Morgan Stanley boosted their target price on Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Leerink Partnrs downgraded Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, Guggenheim reiterated a "neutral" rating and set a $167.00 target price (up from $164.00) on shares of Johnson & Johnson in a research report on Thursday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, Johnson & Johnson presently has a consensus rating of "Moderate Buy" and an average target price of $176.29.

Johnson & Johnson Stock Down 0.2%

Shares of NYSE JNJ traded down $0.35 on Wednesday, hitting $177.71. The company had a trading volume of 6,831,999 shares, compared to its average volume of 8,970,411. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $181.16. The business has a 50 day moving average of $167.02 and a two-hundred day moving average of $160.33. 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 capitalization of $427.98 billion, a P/E ratio of 19.01, a PEG ratio of 2.26 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping 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 company had revenue of $23.74 billion during the quarter, compared to the consensus estimate of $22.85 billion. During the same quarter in the prior year, the business earned $2.82 earnings per share. The company's revenue was up 5.8% compared to the same quarter last year. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. As a group, equities research analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently announced 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 of this dividend is Tuesday, August 26th. This represents a $5.20 annualized dividend and a dividend yield of 2.9%. Johnson & Johnson's dividend payout ratio is presently 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.