Johnson & Johnson $JNJ Shares Sold by Norden Group LLC

Key Points

• Norden Group LLC reduced its stake in Johnson & Johnson by 15.0% in Q2, owning 30,420 shares valued at approximately $4.65 million after selling 5,366 shares.
• Johnson & Johnson reported a quarterly earnings per share of $2.77, exceeding estimates and showing a year-over-year revenue increase of 5.8%.
• The company recently declared a quarterly dividend of $1.30, representing a yield of 2.9% and a payout ratio of 55.61%.

Norden Group LLC lessened its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 15.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,420 shares of the company's stock after selling 5,366 shares during the quarter. Norden Group LLC's holdings in Johnson & Johnson were worth $4,647,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Elios Financial Group Inc. boosted its holdings in Johnson & Johnson by 1.5% in the first quarter. Elios Financial Group Inc. now owns 4,496 shares of the company's stock worth $746,000 after purchasing an additional 66 shares during the period. Atlantic Family Wealth LLC boosted its holdings in shares of Johnson & Johnson by 4.4% during the first quarter. Atlantic Family Wealth LLC now owns 1,603 shares of the company's stock valued at $266,000 after acquiring an additional 67 shares during the period. MBA Advisors LLC boosted its holdings in shares of Johnson & Johnson by 1.2% during the first quarter. MBA Advisors LLC now owns 5,553 shares of the company's stock valued at $921,000 after acquiring an additional 68 shares during the period. Sovereign Financial Group Inc. boosted its holdings in shares of Johnson & Johnson by 1.8% during the first quarter. Sovereign Financial Group Inc. now owns 3,928 shares of the company's stock valued at $651,000 after acquiring an additional 69 shares during the period. Finally, Nabity Jensen Investment Management Inc boosted its holdings in shares of Johnson & Johnson by 1.5% during the first quarter. Nabity Jensen Investment Management Inc now owns 4,624 shares of the company's stock valued at $767,000 after acquiring an additional 69 shares during the period. Institutional investors and hedge funds own 69.55% of the company's stock.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $176.62 on Thursday. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $181.16. The firm's 50-day simple moving average is $173.80 and its 200 day simple moving average is $161.90. 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 stock has a market cap of $425.35 billion, a P/E ratio of 18.89, a P/E/G ratio of 2.25 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings data 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 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 business earned $2.82 earnings per share. The company'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. Equities analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th were given a $1.30 dividend. The ex-dividend date was Tuesday, August 26th. This represents a $5.20 annualized dividend and a yield of 2.9%. Johnson & Johnson's payout ratio is 55.61%.

Insider Buying and Selling

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the business's stock in a transaction dated 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 sale, the executive vice president directly owned 178,013 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Company insiders own 0.16% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on JNJ. Barclays boosted their price target on shares of Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. JPMorgan Chase & Co. boosted their price target on shares of Johnson & Johnson from $185.00 to $200.00 and gave the company a "neutral" rating in a report on Tuesday, September 16th. Citigroup boosted their price target on shares of Johnson & Johnson from $185.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, August 21st. Bank of America boosted their price target on shares of Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Finally, Erste Group Bank raised shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $181.40.

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.

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.