Patron Partners LLC Acquires 1,914 Shares of Johnson & Johnson $JNJ

Key Points

• Patron Partners LLC increased its Johnson & Johnson holdings by 23.5%, acquiring an additional 1,914 shares during the second quarter, bringing its total share count to 10,058.
• The company reported earnings of $2.77 per share for the recent quarter, exceeding analysts' estimates and achieving a 5.8% year-over-year revenue growth with total revenue of $23.74 billion.
• Johnson & Johnson announced a quarterly dividend of $1.30 per share, equating to a 2.9% annual yield, with a payout ratio of 55.61%.

Patron Partners LLC grew its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 23.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,058 shares of the company's stock after purchasing an additional 1,914 shares during the quarter. Patron Partners LLC's holdings in Johnson & Johnson were worth $1,536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Highline Wealth Partners LLC boosted its position in shares of Johnson & Johnson by 51.8% in the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock worth $42,000 after purchasing an additional 86 shares during the period. Stone House Investment Management LLC bought a new position in shares of Johnson & Johnson in the first quarter worth approximately $47,000. 1248 Management LLC bought a new position in shares of Johnson & Johnson in the first quarter worth approximately $48,000. von Borstel & Associates Inc. purchased a new position in shares of Johnson & Johnson in the first quarter worth $49,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Johnson & Johnson in the first quarter worth $52,000. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $179.69 on Friday. The company has a market cap of $432.75 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 2.26 and a beta of 0.40. The firm's fifty day moving average is $174.41 and its 200 day moving average is $162.06. 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 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 results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.68 by $0.09. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The company had revenue of $23.74 billion for the quarter, compared to the consensus estimate of $22.85 billion. During the same quarter in the prior year, the firm earned $2.82 earnings per share. Johnson & Johnson's revenue was up 5.8% on a year-over-year basis. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. Sell-side analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th were given a dividend of $1.30 per share. The ex-dividend date was Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a yield of 2.9%. Johnson & Johnson's payout ratio is 55.61%.

Insiders Place Their Bets

In other Johnson & Johnson 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 owned 178,013 shares in the company, valued at $31,652,491.53. The trade was a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.16% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Barclays boosted their target price on shares of Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Guggenheim raised shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $167.00 to $206.00 in a report on Tuesday. Royal Bank Of Canada boosted their target price on shares of Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Erste Group Bank raised shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Finally, UBS Group boosted their target price on shares of Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $181.40.

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.

Want to see what other hedge funds are holding JNJ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Johnson & Johnson (NYSE:JNJ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.