Martingale Asset Management L P Decreases Stake in Johnson & Johnson $JNJ

Key Points

• Martingale Asset Management L P reduced its stake in Johnson & Johnson by 7.0%, holding 256,191 shares valued at approximately $42.5 million, making it the firm's 10th largest position.
• Johnson & Johnson reported earnings per share of $2.77, exceeding analyst expectations, with a net margin of 25% and revenue of $23.74 billion for the quarter.
• The company announced a quarterly dividend of $1.30 per share, representing an annualized dividend yield of 2.9%, payable to shareholders in September.

Martingale Asset Management L P trimmed its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 7.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 256,191 shares of the company's stock after selling 19,152 shares during the period. Johnson & Johnson accounts for 1.1% of Martingale Asset Management L P's investment portfolio, making the stock its 10th biggest position. Martingale Asset Management L P's holdings in Johnson & Johnson were worth $42,487,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Highline Wealth Partners LLC raised its holdings 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 valued at $42,000 after acquiring an additional 86 shares in the last quarter. Stone House Investment Management LLC bought a new stake in Johnson & Johnson during the first quarter valued at approximately $47,000. von Borstel & Associates Inc. bought a new position in shares of Johnson & Johnson in the 1st quarter worth $49,000. Capital A Wealth Management LLC purchased a new position in Johnson & Johnson in the fourth quarter worth $50,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Johnson & Johnson during the 1st quarter valued at about $52,000. Institutional investors own 69.55% of the company's stock.

Johnson & Johnson Price Performance

JNJ opened at $178.5890 on Thursday. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The company has a market cap of $430.10 billion, a price-to-earnings ratio of 19.10, a price-to-earnings-growth ratio of 2.26 and a beta of 0.41. The stock has a fifty day simple moving average of $162.59 and a two-hundred day simple moving average of $158.87. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $180.61.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping analysts' consensus estimates of $2.68 by $0.09. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The firm had revenue of $23.74 billion for the quarter, compared to the consensus estimate of $22.85 billion. During the same period in the prior year, the firm earned $2.82 EPS. The company's 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. Research analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson's payout ratio is 55.61%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on JNJ shares. Leerink Partners lowered shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and lowered their price objective for the stock from $169.00 to $153.00 in a report on Tuesday, May 13th. Wall Street Zen cut shares of Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. Morgan Stanley upped their price target on shares of Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. UBS Group lifted their price objective on Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Finally, Benchmark upgraded Johnson & Johnson to a "strong-buy" rating in a research report on Thursday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $174.50.

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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