LGT Fund Management Co Ltd. Boosts Stock Position in Johnson & Johnson $JNJ

Key Points

• LGT Fund Management Co Ltd. has increased its holdings in Johnson & Johnson by 99.3%, owning 9,904 shares worth $1,513,000 as of its latest SEC filing.
• Multiple hedge funds, including Apexium Financial and Avanza Fonder, have also made significant adjustments to their positions in Johnson & Johnson, reflecting a growing institutional interest.
• Analysts have recently raised price targets for Johnson & Johnson, with UBS and Bank of America setting targets at $198.00, indicating an overall positive outlook for the stock.

LGT Fund Management Co Ltd. raised its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 99.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,904 shares of the company's stock after purchasing an additional 4,935 shares during the period. LGT Fund Management Co Ltd.'s holdings in Johnson & Johnson were worth $1,513,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Apexium Financial LP boosted its position in shares of Johnson & Johnson by 10.7% during the first quarter. Apexium Financial LP now owns 23,989 shares of the company's stock valued at $3,978,000 after purchasing an additional 2,310 shares in the last quarter. Avanza Fonder AB grew its position in shares of Johnson & Johnson by 2.9% in the 2nd quarter. Avanza Fonder AB now owns 234,647 shares of the company's stock worth $35,842,000 after buying an additional 6,566 shares during the period. Joel Isaacson & Co. LLC increased its stake in shares of Johnson & Johnson by 3.5% in the 1st quarter. Joel Isaacson & Co. LLC now owns 74,132 shares of the company's stock worth $12,294,000 after acquiring an additional 2,526 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its position in Johnson & Johnson by 7.0% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 73,350 shares of the company's stock valued at $12,164,000 after acquiring an additional 4,816 shares during the period. Finally, Range Financial Group LLC increased its stake in shares of Johnson & Johnson by 18.9% during the first quarter. Range Financial Group LLC now owns 15,886 shares of the company's stock valued at $2,635,000 after purchasing an additional 2,529 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. UBS Group set a $198.00 price objective on Johnson & Johnson in a research report on Friday. Bank of America upped their price target on shares of Johnson & Johnson from $175.00 to $198.00 and gave the stock a "neutral" rating in a research note on Friday. Wall Street Zen raised shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. Citigroup increased their price target on shares of Johnson & Johnson from $185.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, August 21st. Finally, HSBC boosted their price objective on shares of Johnson & Johnson from $188.00 to $210.00 in a report on Tuesday, September 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $188.88.

Johnson & Johnson Price Performance

NYSE JNJ opened at $188.51 on Monday. The stock has a market capitalization of $453.98 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 2.40 and a beta of 0.40. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $189.78. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. The business's fifty day moving average price is $176.18 and its 200-day moving average price is $162.83.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $0.09. The company 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%.Johnson & Johnson's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.82 earnings per share. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. On average, equities analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

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

Insiders Place Their Bets

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

Johnson & Johnson Company 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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