Lewis Asset Management LLC Grows Stock Holdings in Johnson & Johnson $JNJ

Key Points

• Lewis Asset Management LLC increased its stake in Johnson & Johnson by 169.3%, owning a total of 13,970 shares worth approximately $2.13 million, making it the firm's 25th largest holding.
• Several analysts have raised their price targets for Johnson & Johnson, with JPMorgan and Citigroup increasing their targets to $200, while the consensus price target now stands at $177.87.
• Johnson & Johnson recently declared a quarterly dividend of $1.30, representing a 3.0% dividend yield and a payout ratio of approximately 55.61%.

Lewis Asset Management LLC raised its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 169.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,970 shares of the company's stock after acquiring an additional 8,783 shares during the quarter. Johnson & Johnson makes up approximately 1.0% of Lewis Asset Management LLC's holdings, making the stock its 25th largest position. Lewis Asset Management LLC's holdings in Johnson & Johnson were worth $2,134,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Johnson & Johnson by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 233,962,679 shares of the company's stock worth $38,800,371,000 after buying an additional 1,170,120 shares during the period. Northern Trust Corp boosted its stake in Johnson & Johnson by 0.4% in the first quarter. Northern Trust Corp now owns 30,943,820 shares of the company's stock valued at $5,131,723,000 after acquiring an additional 130,645 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Johnson & Johnson by 26.4% during the first quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock worth $3,844,580,000 after purchasing an additional 4,842,582 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Johnson & Johnson by 3.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,899,263 shares of the company's stock valued at $3,133,602,000 after buying an additional 712,181 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Johnson & Johnson by 2.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 18,282,410 shares of the company's stock worth $3,031,955,000 after purchasing an additional 448,666 shares in the last quarter. 69.55% of the stock is owned by institutional investors.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the firm's stock in a transaction dated 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 completion of the sale, the executive vice president owned 178,013 shares of the company's stock, valued at $31,652,491.53. This trade represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is currently owned by insiders.

Johnson & Johnson Stock Performance

NYSE JNJ traded down $1.97 on Monday, reaching $174.22. The stock had a trading volume of 7,186,784 shares, compared to its average volume of 7,799,981. The firm has a fifty day moving average of $173.14 and a two-hundred day moving average of $161.69. The company has a market cap of $419.58 billion, a P/E ratio of 18.63, a price-to-earnings-growth ratio of 2.24 and a beta of 0.40. 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 has a 1-year low of $140.68 and a 1-year high of $181.16.

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, topping the consensus estimate of $2.68 by $0.09. The business had revenue of $23.74 billion during the quarter, compared to analysts' expectations of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%.The firm's revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.82 earnings per share. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. On average, equities research analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Guggenheim reaffirmed a "neutral" rating and set a $167.00 target price (up from $164.00) on shares of Johnson & Johnson in a research note on Thursday, July 17th. Wall Street Zen raised shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Citigroup lifted their price objective on shares of Johnson & Johnson from $185.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. Morgan Stanley boosted their target price on shares of Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Finally, Barclays boosted their price target on shares of Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $178.80.

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.