Peloton Wealth Strategists Sells 1,624 Shares of Johnson & Johnson $JNJ

Key Points

• Peloton Wealth Strategists has reduced its stake in Johnson & Johnson by 10.6%, now holding 13,633 shares valued at approximately $2.26 million.
• Several institutional investors, including Highline Wealth Partners, have increased their holdings in Johnson & Johnson, with institutional ownership reaching 69.55%.
• Johnson & Johnson reported an earnings per share (EPS) of $2.77 for the last quarter, surpassing expectations and reflecting a revenue increase of 5.8% year-over-year.

Peloton Wealth Strategists lessened its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 10.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,633 shares of the company's stock after selling 1,624 shares during the period. Peloton Wealth Strategists' holdings in Johnson & Johnson were worth $2,261,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of JNJ. Highline Wealth Partners LLC boosted its holdings in shares of Johnson & Johnson by 51.8% during the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock worth $42,000 after buying an additional 86 shares during the period. Stone House Investment Management LLC bought a new stake in shares of Johnson & Johnson during the 1st quarter worth about $47,000. 1248 Management LLC bought a new stake in shares of Johnson & Johnson during the 1st quarter worth about $48,000. von Borstel & Associates Inc. bought a new stake in shares of Johnson & Johnson during the 1st quarter worth about $49,000. Finally, Capital A Wealth Management LLC bought a new stake in shares of Johnson & Johnson during the 4th quarter worth about $50,000. Institutional investors own 69.55% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on JNJ. UBS Group lifted 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. Erste Group Bank raised shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Wall Street Zen cut shares of Johnson & Johnson from a "buy" rating to a "hold" rating in a research note on Friday. Bank of America lifted their price objective on shares of Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Finally, Citigroup lifted their price objective on shares of Johnson & Johnson from $185.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, August 21st. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $176.29.

Johnson & Johnson Price Performance

Shares of Johnson & Johnson stock opened at $178.30 on Tuesday. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $181.16. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. The company has a 50-day simple moving average of $169.09 and a two-hundred day simple moving average of $160.90. The stock has a market capitalization of $429.40 billion, a price-to-earnings ratio of 19.07, a price-to-earnings-growth ratio of 2.27 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.68 by $0.09. The company had revenue of $23.74 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.82 EPS. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. Analysts forecast 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 will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be given a $1.30 dividend. The ex-dividend date is Tuesday, August 26th. This represents a $5.20 annualized dividend and a dividend yield of 2.9%. Johnson & Johnson's payout ratio is presently 55.61%.

Insider Activity at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the business's stock in a transaction that occurred on 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 completion of 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.16% of the company's stock.

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.

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