Pallas Capital Advisors LLC Sells 4,147 Shares of Johnson & Johnson $JNJ

Key Points

• Pallas Capital Advisors LLC has reduced its stake in Johnson & Johnson by 4.5% to hold 88,017 shares, worth approximately $13.4 million, as of the latest SEC filing.
• In recent months, several other hedge funds have increased their holdings in Johnson & Johnson, with institutional investors now owning 69.55% of the company's stock.
• Analysts have raised their price targets for Johnson & Johnson, with Citigroup setting a new target of $200.00 while maintaining a "buy" rating on the stock.

Pallas Capital Advisors LLC cut its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 4.5% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 88,017 shares of the company's stock after selling 4,147 shares during the period. Pallas Capital Advisors LLC's holdings in Johnson & Johnson were worth $13,445,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. GSG Advisors LLC raised its position in Johnson & Johnson by 71.4% in the 2nd quarter. GSG Advisors LLC now owns 8,884 shares of the company's stock valued at $1,357,000 after purchasing an additional 3,701 shares during the last quarter. Mirador Capital Partners LP boosted its stake in Johnson & Johnson by 5.4% during the 2nd quarter. Mirador Capital Partners LP now owns 4,853 shares of the company's stock valued at $741,000 after purchasing an additional 248 shares during the last quarter. StrongBox Wealth LLC raised its holdings in shares of Johnson & Johnson by 3.4% in the 2nd quarter. StrongBox Wealth LLC now owns 3,584 shares of the company's stock worth $548,000 after purchasing an additional 118 shares during the period. Aaron Wealth Advisors LLC grew its position in Johnson & Johnson by 3.8% in the second quarter. Aaron Wealth Advisors LLC now owns 20,826 shares of the company's stock worth $3,181,000 after acquiring an additional 753 shares in the last quarter. Finally, Divergent Planning LLC purchased a new stake in shares of Johnson & Johnson during the second quarter worth about $548,000. Institutional investors and hedge funds own 69.55% of the company's stock.

Insiders Place Their Bets

In related 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 in the company, valued at approximately $31,652,491.53. The trade was a 24.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.16% of the stock is owned by insiders.

Analysts Set New Price Targets

JNJ has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Johnson & Johnson from $185.00 to $200.00 and gave the company a "neutral" rating in a research note on Tuesday, September 16th. Morgan Stanley raised their price target on shares of Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Barclays lifted their price objective on shares of Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Bank of America upped their price target on shares of Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Finally, Piper Sandler restated an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $177.87.

Johnson & Johnson Trading Up 1.0%

Shares of NYSE JNJ traded up $1.81 during midday trading on Friday, reaching $175.97. 25,617,065 shares of the stock were exchanged, compared to its average volume of 6,995,150. The company has a 50 day simple moving average of $172.80 and a 200 day simple moving average of $161.67. The stock has a market capitalization of $423.80 billion, a P/E ratio of 18.82, a PEG ratio of 2.24 and a beta of 0.40. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $181.16.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 25.00% and a return on equity of 32.49%. The business's revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.82 earnings per share. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. As a group, equities analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.0%. The ex-dividend date was Tuesday, August 26th. Johnson & Johnson's dividend payout ratio (DPR) is presently 55.61%.

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.