Nova R Wealth Inc. Invests $862,000 in Johnson & Johnson $JNJ

Key Points

• Nova R Wealth Inc. has invested approximately $862,000 in Johnson & Johnson, acquiring 5,645 shares during the second quarter.
• Multiple large institutional investors, including Nuveen LLC and Bank of New York Mellon Corp, have significantly increased their positions in Johnson & Johnson recently, contributing to a total of 69.55% of the company's stock being owned by institutional investors.
• Johnson & Johnson's stock has been rated as a "Moderate Buy" with an average price target of $181.40, and the company reported a 5.8% increase in revenue compared to the same quarter last year.

Nova R Wealth Inc. acquired a new position in Johnson & Johnson (NYSE:JNJ - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,645 shares of the company's stock, valued at approximately $862,000.

Several other large investors have also recently bought and sold shares of JNJ. Nuveen LLC purchased a new position in Johnson & Johnson in the first quarter worth $1,369,188,000. Bank of New York Mellon Corp raised its position in Johnson & Johnson by 26.4% in the first quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock worth $3,844,580,000 after acquiring an additional 4,842,582 shares in the last quarter. Pacer Advisors Inc. raised its position in Johnson & Johnson by 1,382.0% in the first quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company's stock worth $502,509,000 after acquiring an additional 2,825,626 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Johnson & Johnson by 159.6% in the second quarter. Assenagon Asset Management S.A. now owns 4,159,260 shares of the company's stock worth $635,327,000 after acquiring an additional 2,557,388 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new position in Johnson & Johnson in the second quarter worth $401,420,000. Hedge funds and other institutional investors own 69.55% of the company's stock.

Analyst Upgrades and Downgrades

JNJ has been the subject of a number of research analyst reports. Wall Street Zen upgraded Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. Barclays raised their price target on Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Bank of America raised 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. Erste Group Bank upgraded Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Finally, UBS Group raised their price target on Johnson & Johnson from $180.00 to $190.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, Johnson & Johnson has an average rating of "Moderate Buy" and a consensus price target of $181.40.

Johnson & Johnson Stock Up 2.1%

Shares of NYSE:JNJ opened at $185.40 on Wednesday. The stock's 50-day moving average price is $175.11 and its two-hundred day moving average price is $162.34. 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 has a 12-month low of $140.68 and a 12-month high of $185.99. The firm has a market cap of $446.51 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 2.31 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.09. The business had revenue of $23.74 billion for 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%.The company'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 EPS. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. On average, research analysts forecast that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Tuesday, August 26th. Johnson & Johnson's payout ratio is currently 55.61%.

Insider Buying and Selling at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson 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 transaction, the executive vice president directly owned 178,013 shares of the company's stock, valued at $31,652,491.53. The trade was a 24.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.16% of the stock is owned by corporate insiders.

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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