Kingstone Capital Partners Texas LLC Takes $401.42 Million Position in Johnson & Johnson $JNJ

Key Points

• Kingstone Capital Partners Texas LLC acquired 2,476,715 shares of Johnson & Johnson, valued at approximately $401 million, representing about 0.10% ownership as per their latest SEC filing.
• Johnson & Johnson reported a quarterly earnings per share (EPS) of $2.77, exceeding analysts' expectations, and had revenue of $23.74 billion for the quarter, up 5.8% year-over-year.
• Executives at Johnson & Johnson have been engaging in insider selling, with EVP Jennifer L. Taubert selling 56,471 shares for over $10 million, decreasing her holdings by 24.08%.

Kingstone Capital Partners Texas LLC bought a new stake in Johnson & Johnson (NYSE:JNJ - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,476,715 shares of the company's stock, valued at approximately $401,420,000. Kingstone Capital Partners Texas LLC owned approximately 0.10% of Johnson & Johnson at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in JNJ. Highline Wealth Partners LLC increased its stake in shares of Johnson & Johnson by 51.8% during the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock worth $42,000 after purchasing an additional 86 shares in the last quarter. Stone House Investment Management LLC purchased a new stake in shares of Johnson & Johnson in the first quarter valued at $47,000. 1248 Management LLC purchased a new stake in shares of Johnson & Johnson in the first quarter valued at $48,000. von Borstel & Associates Inc. purchased a new stake in shares of Johnson & Johnson in the first quarter valued at $49,000. Finally, Capital A Wealth Management LLC purchased a new stake in Johnson & Johnson in the 4th quarter valued at about $50,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the company's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $177.81, for a total value of $10,041,108.51. Following the transaction, the executive vice president owned 178,013 shares of the company's stock, valued at approximately $31,652,491.53. This represents a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.16% of the company's stock.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ traded down $1.94 during midday trading on Monday, reaching $174.25. 4,038,321 shares of the company traded hands, compared to its average volume of 8,928,223. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $181.16. The company has a market cap of $419.65 billion, a price-to-earnings ratio of 18.64, a PEG ratio of 2.24 and a beta of 0.40. The stock has a 50-day moving average price of $172.80 and a 200 day moving average price of $161.64. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its 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. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%.The firm had revenue of $23.74 billion for the quarter, compared to analysts' expectations of $22.85 billion. During the same quarter in the previous year, the company earned $2.82 earnings per share. The firm's quarterly revenue 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. Sell-side analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, August 26th. Johnson & Johnson's payout ratio is currently 55.61%.

Wall Street Analysts Forecast Growth

JNJ has been the subject of several research reports. The Goldman Sachs Group boosted their price objective on shares of Johnson & Johnson from $185.00 to $186.00 and gave the company a "buy" rating in a research note on Friday. Morgan Stanley upped their price target on Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. UBS Group increased their price target on Johnson & Johnson from $180.00 to $190.00 and gave the company a "buy" rating in a report on Thursday, July 17th. JPMorgan Chase & Co. increased their price target on shares of Johnson & Johnson from $185.00 to $200.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 16th. Finally, Royal Bank Of Canada lifted their target price on Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a research 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 ten have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $178.80.

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.