Modern Wealth Management LLC Raises Stake in Johnson & Johnson $JNJ

Key Points

• Modern Wealth Management LLC increased its stake in Johnson & Johnson by 30.1% in Q1, owning 40,596 shares worth approximately $6.73 million at the end of the quarter.
• Johnson & Johnson reported earnings of $2.77 per share for the last quarter, surpassing analysts' expectations by $0.09, with revenue of $23.74 billion.
• The company announced a quarterly dividend of $1.30 per share, translating to an annualized dividend yield of 2.9%.

Modern Wealth Management LLC lifted its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 30.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,596 shares of the company's stock after buying an additional 9,392 shares during the quarter. Modern Wealth Management LLC's holdings in Johnson & Johnson were worth $6,733,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC grew its holdings in Johnson & Johnson by 13.9% in the fourth quarter. Brighton Jones LLC now owns 51,876 shares of the company's stock valued at $7,502,000 after purchasing an additional 6,332 shares during the period. Hudson Value Partners LLC grew its holdings in Johnson & Johnson by 2.5% in the fourth quarter. Hudson Value Partners LLC now owns 41,403 shares of the company's stock valued at $5,648,000 after purchasing an additional 1,022 shares during the period. ProShare Advisors LLC grew its holdings in Johnson & Johnson by 6.5% in the fourth quarter. ProShare Advisors LLC now owns 1,671,241 shares of the company's stock valued at $241,695,000 after purchasing an additional 102,597 shares during the period. Polar Asset Management Partners Inc. purchased a new stake in Johnson & Johnson in the fourth quarter valued at approximately $39,047,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Johnson & Johnson in the fourth quarter valued at approximately $1,109,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the business's 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 directly owned 178,013 shares of the company's stock, valued at approximately $31,652,491.53. The trade was a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.16% of the company's stock.

Johnson & Johnson Trading Up 1.5%

Shares of JNJ stock opened at $178.40 on Friday. The stock has a market cap of $429.65 billion, a price-to-earnings ratio of 19.08, a price-to-earnings-growth ratio of 2.24 and a beta of 0.40. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $181.16. The firm's 50 day moving average price is $170.36 and its two-hundred day moving average price is $161.22.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, beating analysts' consensus estimates of $2.68 by $0.09. The firm 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%. Johnson & Johnson's revenue was up 5.8% compared to the same quarter last year. During the same period in the previous 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, analysts anticipate 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. Stockholders of record on Tuesday, August 26th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Tuesday, August 26th. Johnson & Johnson's payout ratio is presently 55.61%.

Analyst Ratings Changes

JNJ has been the subject of a number of recent analyst reports. Guggenheim restated a "neutral" rating and issued a $167.00 target price (up from $164.00) on shares of Johnson & Johnson in a report on Thursday, July 17th. 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 report on Thursday, July 17th. Citigroup boosted their target price 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. Bank of America boosted their target price on shares of Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Finally, UBS Group boosted their target price on shares of Johnson & Johnson from $180.00 to $190.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $176.29.

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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