Johnson & Johnson $JNJ Shares Sold by Castle Rock Wealth Management LLC

Key Points

• Castle Rock Wealth Management LLC sold 4,915 shares of Johnson & Johnson, reducing its stake by 50.5%, leaving it with 4,811 shares valued at approximately $792,000.
• Numerous institutional investors have recently made significant adjustments to their holdings in Johnson & Johnson, with Nuveen LLC acquiring a new position worth over $1.36 billion and Bank of New York Mellon Corp increasing its stake by 26.4%.
• Johnson & Johnson declared a quarterly dividend of $1.30 per share, representing an annualized yield of 2.7%, with a payout ratio of 55.61%.

Castle Rock Wealth Management LLC lowered its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 50.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,811 shares of the company's stock after selling 4,915 shares during the quarter. Castle Rock Wealth Management LLC's holdings in Johnson & Johnson were worth $792,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in JNJ. Nuveen LLC acquired a new position in Johnson & Johnson in the first quarter valued at $1,369,188,000. Bank of New York Mellon Corp lifted its stake in shares of Johnson & Johnson by 26.4% during the first quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock worth $3,844,580,000 after purchasing an additional 4,842,582 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of Johnson & Johnson by 1,382.0% during the first quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company's stock worth $502,509,000 after purchasing an additional 2,825,626 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Johnson & Johnson by 159.6% during the second quarter. Assenagon Asset Management S.A. now owns 4,159,260 shares of the company's stock worth $635,327,000 after purchasing an additional 2,557,388 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC acquired a new position in shares of Johnson & Johnson during the second quarter worth about $401,420,000. Institutional investors and hedge funds own 69.55% of the company's stock.

Insider Activity at Johnson & Johnson

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on JNJ shares. Erste Group Bank upgraded Johnson & Johnson from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. The Goldman Sachs Group boosted their price objective on Johnson & Johnson from $186.00 to $212.00 and gave the stock a "buy" rating in a research note on Thursday. Sanford C. Bernstein boosted their price objective on Johnson & Johnson from $172.00 to $193.00 and gave the stock a "market perform" rating in a research note on Monday. Weiss Ratings upgraded Johnson & Johnson from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday. Finally, Wells Fargo & Company set a $212.00 price objective on Johnson & Johnson and gave the stock an "overweight" rating in a research note on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $191.41.

Johnson & Johnson Stock Up 0.7%

NYSE:JNJ opened at $190.97 on Friday. The firm has a market capitalization of $459.92 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 2.42 and a beta of 0.40. The stock has a 50 day moving average of $178.01 and a 200-day moving average of $163.56. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $192.10. 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 earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.68 by $0.09. The company 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%.The business's revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.82 earnings per share. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. Analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Tuesday, August 26th. Johnson & Johnson's dividend payout ratio (DPR) 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.

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