Park Avenue Securities LLC Sells 15,906 Shares of Johnson & Johnson $JNJ

Key Points

• Park Avenue Securities LLC reduced its stake in Johnson & Johnson by 15.9%, holding 84,401 shares valued at approximately $12.9 million after selling 15,906 shares in the second quarter.
• Barclays and Citigroup have recently raised their price targets for Johnson & Johnson, with Citigroup setting a new target of $200.00 and Barclays at $176.00, indicating a positive outlook for the stock.
• Johnson & Johnson has announced a quarterly dividend of $1.30 per share, representing a 3.0% yield, with a payout ratio of 55.61%.

Park Avenue Securities LLC lessened its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 15.9% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 84,401 shares of the company's stock after selling 15,906 shares during the period. Park Avenue Securities LLC's holdings in Johnson & Johnson were worth $12,892,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Johnson & Johnson by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 233,962,679 shares of the company's stock worth $38,800,371,000 after buying an additional 1,170,120 shares during the last quarter. Northern Trust Corp raised its stake in shares of 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 in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Johnson & Johnson by 26.4% during 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 buying an additional 4,842,582 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Johnson & Johnson by 3.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,899,263 shares of the company's stock valued at $3,133,602,000 after buying an additional 712,181 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in Johnson & Johnson by 2.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 18,282,410 shares of the company's stock worth $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.

Insiders Place Their Bets

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the 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 transaction, the executive vice president directly owned 178,013 shares in the company, valued at approximately $31,652,491.53. This trade represents a 24.08% decrease in their position. 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 corporate insiders.

Johnson & Johnson Stock Performance

JNJ traded down $1.97 during trading on Monday, reaching $174.22. The company's stock had a trading volume of 7,186,784 shares, compared to its average volume of 7,799,981. The company has a market capitalization of $419.58 billion, a price-to-earnings ratio of 18.63, a price-to-earnings-growth 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. The company's fifty day moving average price is $173.14 and its 200-day moving average price is $161.69. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $181.16.

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, topping the consensus estimate of $2.68 by $0.09. The firm 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%. Johnson & Johnson's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.82 earnings per share. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. On average, equities analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th were issued a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.0%. Johnson & Johnson's dividend payout ratio is presently 55.61%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on JNJ shares. Citigroup raised their price target on shares of Johnson & Johnson from $185.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday, August 21st. Guggenheim reiterated a "neutral" rating and set a $167.00 target price (up from $164.00) on shares of Johnson & Johnson in a research note on Thursday, July 17th. Wall Street Zen upgraded Johnson & Johnson from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. Erste Group Bank raised Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Finally, The Goldman Sachs Group raised their price target on Johnson & Johnson from $185.00 to $186.00 and gave the company a "buy" rating in a report on Friday. Two research 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 stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $178.80.

About Johnson & Johnson

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.