Legacy Trust Cuts Stock Holdings in Johnson & Johnson $JNJ

Key Points

• Legacy Trust has reduced its stake in Johnson & Johnson by 6.0%, now holding 39,556 shares valued at approximately $6.04 million.
• In a notable insider transaction, EVP Jennifer L. Taubert sold 56,471 shares worth over $10 million, decreasing her ownership by 24.08%.
• Johnson & Johnson recently reported an earnings beat for the last quarter, with revenue up 5.8% year-over-year and an EPS of $2.77, surpassing analysts' expectations.

Legacy Trust cut its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 6.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 39,556 shares of the company's stock after selling 2,539 shares during the period. Johnson & Johnson accounts for 1.5% of Legacy Trust's holdings, making the stock its 24th biggest holding. Legacy Trust's holdings in Johnson & Johnson were worth $6,042,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Highline Wealth Partners LLC raised its position in shares of 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 in the last quarter. Stone House Investment Management LLC bought a new position in Johnson & Johnson in the first quarter worth about $47,000. 1248 Management LLC purchased a new stake in shares of Johnson & Johnson during the first quarter valued at about $48,000. von Borstel & Associates Inc. bought a new stake in shares of Johnson & Johnson in the 1st quarter valued at about $49,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Johnson & Johnson in the 1st quarter worth approximately $52,000. Institutional investors own 69.55% of the company's stock.

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 shares were sold at an average price of $177.81, for a total value of $10,041,108.51. Following the sale, the executive vice president directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.16% of the company's stock.

Johnson & Johnson Trading Down 0.2%

Shares of NYSE:JNJ opened at $188.23 on Tuesday. 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 has a 52-week low of $140.68 and a 52-week high of $189.92. The stock has a market cap of $453.32 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 2.40 and a beta of 0.40. The business has a 50-day moving average price of $176.62 and a 200-day moving average price of $163.00.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $22.85 billion. During the same quarter in the prior year, the firm earned $2.82 earnings per share. Johnson & Johnson's revenue for the quarter was up 5.8% on a year-over-year basis. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. Equities analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on JNJ. Erste Group Bank upgraded shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. UBS Group set a $198.00 price objective on Johnson & Johnson in a research report on Friday. Bank of America upped their target price on Johnson & Johnson from $175.00 to $198.00 and gave the company a "neutral" rating in a research report on Friday. Piper Sandler reissued an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Johnson & Johnson in a report on Saturday, September 27th. Two equities research 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 company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $189.12.

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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