Precedent Wealth Partners LLC Purchases 1,489 Shares of Johnson & Johnson $JNJ

Key Points

• Precedent Wealth Partners LLC increased its stake in Johnson & Johnson by 15.6%, acquiring 1,489 additional shares during the second quarter, bringing its total holdings to 11,049 shares worth approximately $1.69 million.
• Johnson & Johnson recently announced a quarterly dividend of $1.30 per share, reflecting an annualized dividend yield of 2.8% and a payout ratio of 55.61%.
• Wall Street analysts have generally rated Johnson & Johnson positively, with a majority giving it a "Buy" rating and raising price targets, indicating confidence in the stock's growth potential.

Precedent Wealth Partners LLC raised its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 15.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,049 shares of the company's stock after purchasing an additional 1,489 shares during the quarter. Precedent Wealth Partners LLC's holdings in Johnson & Johnson were worth $1,688,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of JNJ. Franklin Street Advisors Inc. NC raised its position in Johnson & Johnson by 5.1% in the 2nd quarter. Franklin Street Advisors Inc. NC now owns 19,821 shares of the company's stock valued at $3,028,000 after buying an additional 968 shares during the last quarter. Barrett & Company Inc. grew its stake in shares of Johnson & Johnson by 1.1% during the 2nd quarter. Barrett & Company Inc. now owns 9,710 shares of the company's stock worth $1,483,000 after acquiring an additional 105 shares in the last quarter. HighMark Wealth Management LLC raised its holdings in shares of Johnson & Johnson by 21.9% in the second quarter. HighMark Wealth Management LLC now owns 1,167 shares of the company's stock valued at $178,000 after purchasing an additional 210 shares during the last quarter. Abundance Wealth Counselors boosted its holdings in Johnson & Johnson by 12.7% during the second quarter. Abundance Wealth Counselors now owns 20,903 shares of the company's stock worth $3,193,000 after purchasing an additional 2,363 shares during the last quarter. Finally, Hudson Edge Investment Partners Inc. grew its position in Johnson & Johnson by 6.1% in the second quarter. Hudson Edge Investment Partners Inc. now owns 42,589 shares of the company's stock valued at $6,505,000 after purchasing an additional 2,453 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors.

Insider Activity at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the 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 transaction, the executive vice president owned 178,013 shares in the company, valued at approximately $31,652,491.53. This trade represents 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 accessible through this link. Insiders own 0.16% of the company's stock.

Johnson & Johnson Stock Up 1.4%

JNJ opened at $188.51 on Monday. The stock's fifty day simple moving average is $176.18 and its 200 day simple moving average is $162.83. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $189.78. The stock has a market cap of $453.98 billion, a PE ratio of 20.16, a price-to-earnings-growth ratio of 2.40 and a beta of 0.40. 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 released its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.68 by $0.09. The firm had revenue of $23.74 billion for the quarter, compared to the consensus estimate of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The company's quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.82 earnings per share. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. As a group, research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Tuesday, August 26th. Johnson & Johnson's payout ratio is currently 55.61%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on JNJ. Erste Group Bank raised shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Citigroup upped their target price on Johnson & Johnson from $185.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, August 21st. Wall Street Zen upgraded Johnson & Johnson from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Guggenheim raised Johnson & Johnson from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $167.00 to $206.00 in a research report on Tuesday, September 23rd. Finally, The Goldman Sachs Group increased their price objective on Johnson & Johnson from $185.00 to $186.00 and gave the company a "buy" rating in a report on Friday, September 19th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $188.88.

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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