Johnson & Johnson $JNJ Stock Holdings Lessened by Parallel Advisors LLC

Key Points

• Parallel Advisors LLC has decreased its position in Johnson & Johnson by 4.4%, selling 3,338 shares, leaving it with a total holding of 72,857 shares valued at approximately $11.13 million as of the latest SEC filing.
• The company reported earnings of $2.77 per share, surpassing the analysts' estimates, with revenue for the quarter reaching $23.74 billion, a 5.8% increase compared to the prior year.
• Johnson & Johnson recently announced a quarterly dividend of $1.30 per share, with a current annualized dividend yield of 2.9% and a payout ratio of 55.61%.

Parallel Advisors LLC trimmed its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 4.4% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 72,857 shares of the company's stock after selling 3,338 shares during the period. Parallel Advisors LLC's holdings in Johnson & Johnson were worth $11,129,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of JNJ. Vanguard Group Inc. boosted its stake in Johnson & Johnson by 0.5% in the first quarter. Vanguard Group Inc. now owns 233,962,679 shares of the company's stock valued at $38,800,371,000 after acquiring an additional 1,170,120 shares during the period. Northern Trust Corp boosted its stake in Johnson & Johnson by 0.4% in the first quarter. Northern Trust Corp now owns 30,943,820 shares of the company's stock valued at $5,131,723,000 after acquiring an additional 130,645 shares during the period. Bank of New York Mellon Corp boosted its stake 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 valued at $3,844,580,000 after acquiring an additional 4,842,582 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Johnson & Johnson by 3.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,899,263 shares of the company's stock valued at $3,133,602,000 after acquiring an additional 712,181 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in Johnson & Johnson by 2.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 18,282,410 shares of the company's stock valued at $3,031,955,000 after acquiring an additional 448,666 shares during the period. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

JNJ has been the subject of a number of research reports. Citigroup lifted their target price on Johnson & Johnson from $185.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. Piper Sandler restated an "overweight" rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Barclays boosted their price objective 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. Morgan Stanley boosted their price objective on Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Finally, Royal Bank Of Canada boosted their price objective on Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $176.29.

Insider Buying and Selling

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the business's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the sale, the executive vice president owned 178,013 shares of the company's stock, valued at $31,652,491.53. The trade was a 24.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is currently owned by insiders.

Johnson & Johnson Price Performance

NYSE:JNJ traded down $0.57 during midday trading on Monday, hitting $177.49. 4,767,621 shares of the stock were exchanged, compared to its average volume of 7,435,351. Johnson & Johnson has a one year low of $140.68 and a one year high of $181.16. The company has a market capitalization of $427.46 billion, a price-to-earnings ratio of 18.98, a P/E/G ratio of 2.27 and a beta of 0.40. The business has a 50-day moving average price of $171.25 and a two-hundred day moving average price of $161.36. 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 (NYSE:JNJ - Get Free Report) last announced its earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, topping the consensus estimate of $2.68 by $0.09. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%.The firm had revenue of $23.74 billion for the quarter, compared to analysts' expectations of $22.85 billion. During the same quarter in the previous year, the company earned $2.82 earnings per share. The firm's quarterly 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. Sell-side analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

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