Kayne Anderson Rudnick Investment Management LLC Decreases Holdings in Johnson & Johnson $JNJ

Key Points

• Kayne Anderson Rudnick Investment Management LLC reduced its holdings in Johnson & Johnson by 20.7%, owning 94,138 shares after selling 24,562 shares in the first quarter.
• The company's quarterly earnings report showed an EPS of $2.77, surpassing estimates, with revenues up 5.8% year-over-year, reaching $23.74 billion.
• Johnson & Johnson announced a quarterly dividend of $1.30 per share, resulting in an annualized dividend yield of 2.9%.

Kayne Anderson Rudnick Investment Management LLC lowered its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 20.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 94,138 shares of the company's stock after selling 24,562 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in Johnson & Johnson were worth $15,612,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in JNJ. Highline Wealth Partners LLC increased its holdings in Johnson & Johnson by 51.8% in the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock worth $42,000 after acquiring an additional 86 shares during the last quarter. Stone House Investment Management LLC purchased a new stake in Johnson & Johnson in the 1st quarter worth about $47,000. von Borstel & Associates Inc. purchased a new stake in Johnson & Johnson in the 1st quarter worth about $49,000. Capital A Wealth Management LLC purchased a new stake in Johnson & Johnson in the 4th quarter worth about $50,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Johnson & Johnson in the 1st quarter worth about $52,000. Hedge funds and other institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Up 0.1%

Shares of NYSE JNJ opened at $179.0980 on Monday. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $181.16. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $431.33 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 2.28 and a beta of 0.41. The business has a 50-day moving average of $163.48 and a 200-day moving average of $159.30.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 EPS 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 company had revenue of $23.74 billion during the quarter, compared to analyst estimates of $22.85 billion. During the same quarter in the previous year, the firm earned $2.82 earnings per share. Johnson & Johnson's revenue was up 5.8% on a year-over-year basis. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. Sell-side analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

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 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 2.9%. Johnson & Johnson's payout ratio is presently 55.61%.

Wall Street Analysts Forecast Growth

JNJ has been the subject of a number of recent analyst reports. Royal Bank Of Canada lifted their target price on Johnson & Johnson from $181.00 to $185.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Wall Street Zen lowered Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th. 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 report on Thursday, July 17th. Citigroup lifted their target price on Johnson & Johnson from $185.00 to $200.00 and gave the company a "buy" rating in a report on Thursday. Finally, Bank of America lifted their target price on Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, Johnson & Johnson presently has an average 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.

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