NorthCrest Asset Manangement LLC Sells 5,559 Shares of Johnson & Johnson $JNJ

Key Points

• NorthCrest Asset Management LLC reduced its holdings in Johnson & Johnson by 2.2%, owning 245,727 shares valued at approximately $38.3 million.
• Insider selling was noted as EVP Jennifer L. Taubert sold 56,471 shares for over $10 million, reducing her ownership by 24.08%.
• Johnson & Johnson reported a Q2 EPS of $2.77, beating estimates and generating revenue of $23.74 billion, which represents a year-over-year increase of 5.8%.

NorthCrest Asset Manangement LLC cut its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 2.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 245,727 shares of the company's stock after selling 5,559 shares during the quarter. Johnson & Johnson comprises 1.0% of NorthCrest Asset Manangement LLC's portfolio, making the stock its 19th biggest holding. NorthCrest Asset Manangement LLC's holdings in Johnson & Johnson were worth $38,336,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Johnson & Johnson by 1.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 1,724,086 shares of the company's stock worth $268,975,000 after acquiring an additional 25,255 shares during the last quarter. Capital Advisory Group Advisory Services LLC grew its holdings in Johnson & Johnson by 2.3% in the 2nd quarter. Capital Advisory Group Advisory Services LLC now owns 5,703 shares of the company's stock valued at $871,000 after buying an additional 129 shares in the last quarter. Mn Services Vermogensbeheer B.V. grew its holdings in Johnson & Johnson by 2.0% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 903,185 shares of the company's stock valued at $137,962,000 after buying an additional 18,100 shares in the last quarter. Moller Wealth Partners grew its holdings in Johnson & Johnson by 1.6% in the 2nd quarter. Moller Wealth Partners now owns 5,461 shares of the company's stock valued at $834,000 after buying an additional 84 shares in the last quarter. Finally, Wedmont Private Capital grew its holdings in Johnson & Johnson by 4.6% in the 2nd quarter. Wedmont Private Capital now owns 27,975 shares of the company's stock valued at $4,372,000 after buying an additional 1,228 shares in the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 178,013 shares in the company, valued at approximately $31,652,491.53. This trade represents a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.16% of the company's stock.

Johnson & Johnson Price Performance

Shares of JNJ stock traded up $1.81 on Friday, hitting $175.97. 25,617,065 shares of the company's stock were exchanged, compared to its average volume of 6,995,150. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $181.16. The stock has a market cap of $423.80 billion, a P/E ratio of 18.82, a price-to-earnings-growth ratio of 2.22 and a beta of 0.40. The company has a 50 day moving average of $172.80 and a 200 day moving average of $161.69.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $23.74 billion during the quarter, compared to the consensus estimate of $22.85 billion. During the same period in the prior year, the company earned $2.82 EPS. Johnson & Johnson's revenue for the quarter was up 5.8% on a year-over-year basis. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. On average, equities research analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The company also recently announced 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 3.0%. Johnson & Johnson's dividend payout ratio (DPR) is currently 55.61%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on JNJ shares. Bank of America increased their target price on Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Morgan Stanley increased their target price on Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. JPMorgan Chase & Co. increased their target price on Johnson & Johnson from $185.00 to $200.00 and gave the stock a "neutral" rating in a report on Tuesday. UBS Group increased their target price on Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Finally, Royal Bank Of Canada increased their target price on Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have assigned 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 $177.87.

Johnson & Johnson 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.