Johnson & Johnson $JNJ Stock Position Boosted by Allstate Corp

Key Points

• Allstate Corp increased its stake in Johnson & Johnson by 24.4%, acquiring an additional 17,379 shares, bringing its total ownership to 88,615 shares valued at approximately $14.7 million.
• Several analysts have raised their price targets for Johnson & Johnson, with UBS increasing its target from $180 to $190, reflecting a strong confidence in the stock.
• Johnson & Johnson reported a quarterly EPS of $2.77, surpassing estimates, alongside a revenue of $23.74 billion, marking a year-over-year increase of 5.8%.

Allstate Corp lifted its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 24.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 88,615 shares of the company's stock after purchasing an additional 17,379 shares during the quarter. Allstate Corp's holdings in Johnson & Johnson were worth $14,696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC increased its position in Johnson & Johnson by 51.8% in the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock worth $42,000 after purchasing an additional 86 shares during the period. Stone House Investment Management LLC acquired a new position in shares of Johnson & Johnson during the 1st quarter worth approximately $47,000. von Borstel & Associates Inc. bought a new stake in shares of Johnson & Johnson during the 1st quarter valued at $49,000. Capital A Wealth Management LLC bought a new position in Johnson & Johnson in the fourth quarter valued at about $50,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Johnson & Johnson during the first quarter worth about $52,000. Institutional investors and hedge funds own 69.55% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. UBS Group upped their target price on Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Piper Sandler restated an "overweight" rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Royal Bank Of Canada raised their price objective on Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Barclays lifted their price target on Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Finally, Morgan Stanley upped their price objective on Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $176.29.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $178.8990 on Friday. The firm has a 50-day simple moving average of $163.04 and a 200 day simple moving average of $159.05. The company has a market cap of $430.85 billion, a PE ratio of 19.13, a P/E/G ratio of 2.28 and a beta of 0.41. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $180.61. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $22.85 billion. During the same quarter in the prior year, the business earned $2.82 EPS. The company's revenue for the quarter 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. On average, sell-side analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

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

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