Jump Financial LLC Cuts Stock Position in Johnson & Johnson $JNJ

Key Points

• Jump Financial LLC has significantly reduced its stake in Johnson & Johnson by 46.6% in the first quarter, leaving them with 16,950 shares valued at approximately $2.81 million.
• Johnson & Johnson's quarterly earnings exceeded expectations, posting a net revenue of $23.74 billion and an EPS of $2.77, beating consensus estimates.
• The company announced a quarterly dividend of $1.30 per share, with a dividend yield of 2.9%, scheduled for payment on September 9th, 2023.

Jump Financial LLC decreased its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 46.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,950 shares of the company's stock after selling 14,767 shares during the quarter. Jump Financial LLC's holdings in Johnson & Johnson were worth $2,811,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Elios Financial Group Inc. lifted its position in Johnson & Johnson by 1.5% during the first quarter. Elios Financial Group Inc. now owns 4,496 shares of the company's stock valued at $746,000 after purchasing an additional 66 shares during the last quarter. Atlantic Family Wealth LLC lifted its position in 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 purchasing an additional 67 shares during the last quarter. MBA Advisors LLC lifted its position in 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 purchasing an additional 68 shares during the last quarter. Sovereign Financial Group Inc. lifted its position in 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 purchasing an additional 69 shares during the last quarter. Finally, Nabity Jensen Investment Management Inc lifted its position in 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 purchasing an additional 69 shares during the last quarter. Institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Performance

Shares of NYSE:JNJ traded down $1.29 during trading on Thursday, hitting $175.50. 6,423,524 shares of the stock traded hands, compared to its average volume of 8,630,407. 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 company has a market cap of $422.67 billion, a price-to-earnings ratio of 18.77, a P/E/G ratio of 2.25 and a beta of 0.41. The company has a fifty day moving average price of $165.45 and a two-hundred day moving average price of $159.86. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $181.16.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, topping the consensus estimate of $2.68 by $0.09. The company had revenue of $23.74 billion during the quarter, compared to analyst estimates of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The firm's revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.82 EPS. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. As a group, equities analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $5.20 annualized dividend and a dividend yield of 3.0%. Johnson & Johnson's payout ratio is presently 55.61%.

Analyst Ratings Changes

Several research firms have recently issued reports on JNJ. Morgan Stanley raised their target price on shares of Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Citigroup raised their target price on shares of Johnson & Johnson from $185.00 to $200.00 and gave the company a "buy" rating in a research report on Thursday, August 21st. Guggenheim restated a "neutral" rating and issued a $167.00 price target (up from $164.00) on shares of Johnson & Johnson in a report on Thursday, July 17th. Leerink Partnrs cut shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, Wall Street Zen cut shares of Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $176.29.

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.