Price T Rowe Associates Inc. MD Has $1.68 Billion Holdings in Johnson & Johnson $JNJ

Key Points

• Price T Rowe Associates Inc. MD reduced its holdings in Johnson & Johnson by 37.9%, selling over 6 million shares, yet still owns approximately $1.68 billion worth of the stock.
• Despite the sale by Price T Rowe Associates, several other institutional investors have increased their stakes, indicating ongoing interest in Johnson & Johnson.
• Johnson & Johnson reported a quarterly earnings per share of $2.77, surpassing expectations, and has set a 2025 EPS guidance of between 10.800 and 10.900.

Price T Rowe Associates Inc. MD lessened its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 37.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,106,073 shares of the company's stock after selling 6,177,098 shares during the period. Price T Rowe Associates Inc. MD owned 0.42% of Johnson & Johnson worth $1,675,992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PGIM Custom Harvest LLC grew its stake in shares of Johnson & Johnson by 11.2% during the first quarter. PGIM Custom Harvest LLC now owns 1,761 shares of the company's stock worth $292,000 after acquiring an additional 177 shares during the last quarter. Candriam S.C.A. lifted its stake in Johnson & Johnson by 8.0% during the 1st quarter. Candriam S.C.A. now owns 299,114 shares of the company's stock worth $49,605,000 after acquiring an additional 22,060 shares in the last quarter. Sandhill Capital Partners LLC raised its position in Johnson & Johnson by 3.9% in the 1st quarter. Sandhill Capital Partners LLC now owns 27,686 shares of the company's stock valued at $4,592,000 after purchasing an additional 1,035 shares in the last quarter. GM Advisory Group LLC raised its position in Johnson & Johnson by 1.5% in the 1st quarter. GM Advisory Group LLC now owns 13,593 shares of the company's stock valued at $2,254,000 after purchasing an additional 201 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. purchased a new position in shares of Johnson & Johnson in the 1st quarter valued at about $102,460,000. Hedge funds and other institutional investors own 69.55% of the company's stock.

Johnson & Johnson Price Performance

Shares of JNJ stock traded up $0.1680 during mid-day trading on Friday, hitting $179.0980. 9,523,149 shares of the stock traded hands, compared to its average volume of 8,494,048. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $181.16. The firm has a market cap of $431.33 billion, a price-to-earnings ratio of 19.15, a price-to-earnings-growth ratio of 2.28 and a beta of 0.41. The company's 50-day simple moving average is $163.48 and its 200-day simple moving average is $159.23. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $22.85 billion. During the same period last year, the firm earned $2.82 EPS. The firm'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. As a group, equities research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson's payout ratio is presently 55.61%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on JNJ shares. Morgan Stanley lifted their target price on Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Bank of America lifted their price objective on Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" 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. Leerink Partners downgraded Johnson & Johnson from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $169.00 to $153.00 in a report on Tuesday, May 13th. Finally, 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. Two 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 company's stock. According to MarketBeat.com, Johnson & Johnson presently has a consensus rating of "Moderate Buy" and a consensus price target of $176.29.

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.