Patton Fund Management Inc. Makes New Investment in Johnson & Johnson $JNJ

Key Points

• Patton Fund Management Inc. has acquired 1,424 shares of Johnson & Johnson, amounting to approximately $218,000, during the second quarter.
• Analysts have upgraded their ratings and price targets for Johnson & Johnson, with Guggenheim raising its price target from $167.00 to $206.00.
• Johnson & Johnson reported earnings of $2.77 per share, exceeding expectations, with quarterly revenue reaching $23.74 billion, a 5.8% increase year-over-year.

Patton Fund Management Inc. bought a new position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,424 shares of the company's stock, valued at approximately $218,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Investment Partners Asset Management Inc. boosted its position in shares of Johnson & Johnson by 14.8% during the 2nd quarter. Investment Partners Asset Management Inc. now owns 8,094 shares of the company's stock worth $1,236,000 after acquiring an additional 1,044 shares in the last quarter. Vision Capital Management Inc. boosted its position in shares of Johnson & Johnson by 0.8% during the 2nd quarter. Vision Capital Management Inc. now owns 58,166 shares of the company's stock worth $8,885,000 after acquiring an additional 468 shares in the last quarter. Destiny Wealth Partners LLC acquired a new stake in shares of Johnson & Johnson during the 2nd quarter worth approximately $212,000. ST Germain D J Co. Inc. boosted its position in shares of Johnson & Johnson by 11.0% during the 2nd quarter. ST Germain D J Co. Inc. now owns 167,774 shares of the company's stock worth $25,627,000 after acquiring an additional 16,640 shares in the last quarter. Finally, Falcon Wealth Planning boosted its position in shares of Johnson & Johnson by 4.7% during the 2nd quarter. Falcon Wealth Planning now owns 3,502 shares of the company's stock worth $535,000 after acquiring an additional 157 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on JNJ shares. Guggenheim upgraded shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and increased their price target for the stock from $167.00 to $206.00 in a research report on Tuesday, September 23rd. The Goldman Sachs Group increased their price target on shares of Johnson & Johnson from $185.00 to $186.00 and gave the stock a "buy" rating in a research report on Friday, September 19th. Barclays increased their price target on shares of Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Piper Sandler restated an "overweight" rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Finally, JPMorgan Chase & Co. raised their target price on shares of Johnson & Johnson from $185.00 to $200.00 and gave the company a "neutral" rating in a research report on Tuesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $181.40.

Johnson & Johnson Stock Up 1.1%

Johnson & Johnson stock opened at $181.63 on Tuesday. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $181.87. The stock has a market cap of $437.43 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 2.29 and a beta of 0.40. The firm's 50-day simple moving average is $174.76 and its 200 day simple moving average is $162.18. 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 (NYSE:JNJ - Get Free Report) last released its quarterly earnings results 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. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The business had revenue of $23.74 billion for the quarter, compared to analysts' expectations of $22.85 billion. During the same period in the previous year, the company earned $2.82 earnings per share. The firm's revenue for the quarter 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. Research analysts predict that Johnson & Johnson will post 10.58 EPS for the current fiscal 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. 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 currently 55.61%.

Insider Buying and Selling

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $177.81, for a total value of $10,041,108.51. Following the sale, the executive vice president owned 178,013 shares of the company's stock, 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 legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.16% of the company's stock.

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.

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