Meyer Handelman Co. Sells 13,950 Shares of Johnson & Johnson $JNJ

Key Points

• Meyer Handelman Co. reduced its stake in Johnson & Johnson by 10.2%, selling 13,950 shares and now holds 122,159 shares valued at approximately $18.66 million.
• The company's recent earnings report revealed an EPS of $2.77, surpassing analysts' expectations and indicating a revenue growth of 5.8% year-over-year.
• Johnson & Johnson's quarterly dividend was announced at $1.30 per share, with a dividend yield of 2.9% and a payout ratio of 55.61%.

Meyer Handelman Co. decreased its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 10.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 122,159 shares of the company's stock after selling 13,950 shares during the quarter. Meyer Handelman Co.'s holdings in Johnson & Johnson were worth $18,660,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Highline Wealth Partners LLC grew its stake 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 buying an additional 86 shares in the last quarter. Stone House Investment Management LLC bought a new stake in Johnson & Johnson during the first quarter worth approximately $47,000. 1248 Management LLC bought a new stake in Johnson & Johnson during the first quarter worth approximately $48,000. von Borstel & Associates Inc. bought a new stake in Johnson & Johnson during the first quarter worth approximately $49,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in Johnson & Johnson during the first quarter worth approximately $52,000. Institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Up 1.1%

Shares of JNJ stock opened at $179.69 on Friday. The stock has a 50 day moving average of $174.41 and a 200-day moving average of $162.06. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. The firm has a market cap of $432.75 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 2.26 and a beta of 0.40. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $181.16.

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. The business had revenue of $23.74 billion during the quarter, compared to analyst estimates 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 was up 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $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 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Tuesday, August 26th. Johnson & Johnson's dividend payout ratio is presently 55.61%.

Wall Street Analysts Forecast Growth

JNJ has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their target price on Johnson & Johnson from $185.00 to $200.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 16th. Citigroup upped their target price on Johnson & Johnson from $185.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday, August 21st. Royal Bank Of Canada upped their target price on Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Barclays upped their target price on Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Finally, Bank of America upped their price target on Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of "Moderate Buy" and an average target price of $181.40.

Insider Activity at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the company's stock in a transaction on 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 completion of the transaction, the executive vice president directly owned 178,013 shares in the company, valued at approximately $31,652,491.53. This represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a document filed 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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