Magnus Financial Group LLC Sells 14,911 Shares of Johnson & Johnson $JNJ

Key Points

• Magnus Financial Group LLC reduced its investment in Johnson & Johnson by 29%, selling 14,911 shares, and now holds 36,540 shares worth approximately $5.58 million.
• Johnson & Johnson's recent earnings report showed $2.77 EPS, exceeding estimates, with a revenue of $23.74 billion for the quarter, reflecting a 5.8% increase year-over-year.
• The company announced a quarterly dividend of $1.30 per share, representing a yield of 2.9%, with a payout ratio of 55.61%.

Magnus Financial Group LLC lowered its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 29.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,540 shares of the company's stock after selling 14,911 shares during the quarter. Magnus Financial Group LLC's holdings in Johnson & Johnson were worth $5,581,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Highline Wealth Partners LLC raised 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 during the period. Stone House Investment Management LLC bought a new stake in Johnson & Johnson in the first quarter worth about $47,000. 1248 Management LLC purchased a new position in Johnson & Johnson in the first quarter valued at about $48,000. von Borstel & Associates Inc. bought a new position in shares of Johnson & Johnson during the 1st quarter valued at approximately $49,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Johnson & Johnson during the 1st quarter worth approximately $52,000. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Price Performance

JNJ stock opened at $177.71 on Friday. The firm has a 50 day moving average of $174.09 and a 200-day moving average of $161.97. The firm has a market capitalization of $427.99 billion, a P/E ratio of 19.01, a price-to-earnings-growth ratio of 2.25 and a beta of 0.40. 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.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.09. The business had revenue of $23.74 billion for the quarter, compared to analysts' expectations of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The business's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.82 EPS. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. As a group, sell-side analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal 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 given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 2.9%. The ex-dividend date was Tuesday, August 26th. Johnson & Johnson's payout ratio is presently 55.61%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on JNJ. Guggenheim raised Johnson & Johnson from a "neutral" rating to a "buy" rating and increased their price objective for the company from $167.00 to $206.00 in a report on Tuesday. Bank of America upped their price target on Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Morgan Stanley lifted their price objective on Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Wall Street Zen raised shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. Finally, Citigroup lifted their target price on shares of Johnson & Johnson from $185.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $181.40.

Insiders Place Their Bets

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 stock was sold at an average price of $177.81, for a total value of $10,041,108.51. Following 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.16% of the stock is owned by corporate insiders.

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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