Johnson & Johnson $JNJ Stock Position Reduced by Ascent Group LLC

Key Points

• Ascent Group LLC has reduced its stake in Johnson & Johnson by 20.8%, now holding 69,172 shares worth approximately $10.57 million after selling 18,209 shares in the second quarter.
• Johnson & Johnson recently reported a quarterly EPS of $2.77, exceeding expectations, with a revenue of $23.74 billion, marking a 5.8% year-over-year increase.
• The company declared a quarterly dividend of $1.30 per share, resulting in an annualized dividend yield of 2.8%, with a payout ratio of 55.61%.

Ascent Group LLC decreased its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 20.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,172 shares of the company's stock after selling 18,209 shares during the quarter. Ascent Group LLC's holdings in Johnson & Johnson were worth $10,566,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Apexium Financial LP increased its holdings in Johnson & Johnson by 10.7% in the first quarter. Apexium Financial LP now owns 23,989 shares of the company's stock worth $3,978,000 after buying an additional 2,310 shares during the last quarter. Avanza Fonder AB grew its position in Johnson & Johnson by 2.9% in the second quarter. Avanza Fonder AB now owns 234,647 shares of the company's stock worth $35,842,000 after acquiring an additional 6,566 shares in the last quarter. Joel Isaacson & Co. LLC increased its stake in shares of Johnson & Johnson by 3.5% during the 1st quarter. Joel Isaacson & Co. LLC now owns 74,132 shares of the company's stock worth $12,294,000 after purchasing an additional 2,526 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Johnson & Johnson by 7.0% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 73,350 shares of the company's stock valued at $12,164,000 after purchasing an additional 4,816 shares in the last quarter. Finally, Range Financial Group LLC lifted its stake in shares of Johnson & Johnson by 18.9% in the 1st quarter. Range Financial Group LLC now owns 15,886 shares of the company's stock valued at $2,635,000 after purchasing an additional 2,529 shares during the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the sale, the executive vice president owned 178,013 shares of the company's stock, valued at approximately $31,652,491.53. This trade represents a 24.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company's stock.

Johnson & Johnson Stock Up 1.4%

JNJ opened at $188.51 on Monday. The business has a 50 day moving average of $176.18 and a 200-day moving average of $162.83. The stock has a market capitalization of $453.98 billion, a price-to-earnings ratio of 20.16, a P/E/G ratio of 2.40 and a beta of 0.40. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $189.78.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.68 by $0.09. The firm had revenue of $23.74 billion during the quarter, compared to analysts' expectations of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The business's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.82 EPS. 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 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th were issued a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, August 26th. This represents a $5.20 annualized dividend and a yield of 2.8%. Johnson & Johnson's dividend payout ratio is 55.61%.

Wall Street Analyst Weigh In

Several research firms have weighed in on JNJ. UBS Group set a $198.00 target price on Johnson & Johnson in a report on Friday. Piper Sandler restated an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Bank of America upped their target price on Johnson & Johnson from $175.00 to $198.00 and gave the stock a "neutral" rating in a research report on Friday. Wells Fargo & Company set a $212.00 price target on shares of Johnson & Johnson and gave the company an "overweight" rating in a research report on Friday. Finally, Guggenheim raised shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $167.00 to $206.00 in a report on Tuesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $188.88.

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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