Johnson & Johnson $JNJ Shares Sold by First Long Island Investors LLC

Key Points

• First Long Island Investors LLC reduced its stake in Johnson & Johnson by 2.3%, owning 116,940 shares valued at approximately $19.39 million as of the latest SEC filing.
• Analysts have raised their price targets for Johnson & Johnson, with Citigroup increasing its target from $185.00 to $200.00, indicating positive sentiment towards the stock.
• Johnson & Johnson reported a 5.8% increase in quarterly revenue, totaling $23.74 billion, alongside an earnings per share of $2.77, surpassing expectations.

First Long Island Investors LLC lessened its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 2.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 116,940 shares of the company's stock after selling 2,734 shares during the period. Johnson & Johnson comprises approximately 1.6% of First Long Island Investors LLC's portfolio, making the stock its 27th largest position. First Long Island Investors LLC's holdings in Johnson & Johnson were worth $19,393,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in JNJ. Highline Wealth Partners LLC increased its holdings in Johnson & Johnson by 51.8% in the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock valued at $42,000 after purchasing an additional 86 shares during the last quarter. Stone House Investment Management LLC acquired a new stake in Johnson & Johnson in the 1st quarter valued at approximately $47,000. 1248 Management LLC acquired a new position in shares of Johnson & Johnson in the first quarter worth $48,000. von Borstel & Associates Inc. acquired a new position in shares of Johnson & Johnson in the first quarter worth $49,000. Finally, Capital A Wealth Management LLC acquired a new position in shares of Johnson & Johnson in the fourth quarter worth $50,000. Institutional investors and hedge funds own 69.55% of the company's stock.

Insiders Place Their Bets

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the business'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 sale, the executive vice president directly owned 178,013 shares of the company's stock, valued at $31,652,491.53. The trade was a 24.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Royal Bank Of Canada boosted their price target on shares of Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Morgan Stanley boosted their price target on shares of Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Barclays boosted their price target on shares of Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Guggenheim restated a "neutral" rating and issued a $167.00 price target (up previously from $164.00) on shares of Johnson & Johnson in a research note on Thursday, July 17th. Finally, Citigroup boosted their price target on shares of Johnson & Johnson from $185.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $176.29.

Johnson & Johnson Price Performance

Shares of JNJ opened at $178.40 on Friday. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $181.16. The stock has a market cap of $429.65 billion, a PE ratio of 19.08, a price-to-earnings-growth ratio of 2.24 and a beta of 0.40. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. The firm has a fifty day moving average price of $170.36 and a 200 day moving average price of $161.22.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, beating analysts' consensus estimates of $2.68 by $0.09. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The firm had revenue of $23.74 billion during the quarter, compared to analysts' expectations of $22.85 billion. During the same period in the previous year, the company earned $2.82 earnings per share. Johnson & Johnson's quarterly 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, sell-side analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th were given a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a yield of 2.9%. Johnson & Johnson's payout ratio is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.