Prime Capital Investment Advisors LLC Decreases Stock Holdings in Johnson & Johnson $JNJ

Key Points

• Prime Capital Investment Advisors LLC reduced its stock holdings in Johnson & Johnson by 21.8%, selling over 23,000 shares during the second quarter, which left them with holdings valued at $12.78 million.
• Equity analysts remain optimistic about Johnson & Johnson, with Barclays and Citigroup raising their price targets to $176.00 and $213.00, respectively, while the company holds an average target price of $189.88.
• Johnson & Johnson announced a quarterly dividend of $1.30 per share, resulting in an annualized dividend yield of 2.7%.

Prime Capital Investment Advisors LLC decreased its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 21.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 83,719 shares of the company's stock after selling 23,316 shares during the quarter. Prime Capital Investment Advisors LLC's holdings in Johnson & Johnson were worth $12,788,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of JNJ. Brighton Jones LLC increased its position in shares of Johnson & Johnson by 13.9% during the fourth quarter. Brighton Jones LLC now owns 51,876 shares of the company's stock valued at $7,502,000 after buying an additional 6,332 shares during the period. Wealth Group Ltd. purchased a new position in shares of Johnson & Johnson during the first quarter valued at about $218,000. GAMMA Investing LLC increased its position in shares of Johnson & Johnson by 48.0% during the first quarter. GAMMA Investing LLC now owns 43,508 shares of the company's stock valued at $7,215,000 after buying an additional 14,118 shares during the period. Crescent Sterling Ltd. increased its position in shares of Johnson & Johnson by 1.7% during the first quarter. Crescent Sterling Ltd. now owns 23,635 shares of the company's stock valued at $3,920,000 after buying an additional 396 shares during the period. Finally, Sonora Investment Management Group LLC increased its position in shares of Johnson & Johnson by 2.5% during the first quarter. Sonora Investment Management Group LLC now owns 107,836 shares of the company's stock valued at $17,884,000 after buying an additional 2,666 shares during the period. Hedge funds and other institutional investors own 69.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on JNJ shares. Barclays boosted their price target on shares of Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Citigroup boosted their price objective on shares of Johnson & Johnson from $200.00 to $213.00 and gave the stock a "buy" rating in a research note on Tuesday. Royal Bank Of Canada boosted their price objective on shares of Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. JPMorgan Chase & Co. boosted their price objective on shares of Johnson & Johnson from $185.00 to $200.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 16th. Finally, Bank of America boosted their price objective on shares of Johnson & Johnson from $175.00 to $198.00 and gave the stock a "neutral" rating in a research note on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $189.88.

Insiders Place Their Bets

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction that occurred 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. This 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 available at the SEC website. 0.16% of the stock is currently owned by company insiders.

Johnson & Johnson Trading Up 0.5%

Shares of NYSE JNJ opened at $189.75 on Thursday. The firm's 50 day moving average price is $177.49 and its 200-day moving average price is $163.37. The company has a market cap of $456.98 billion, a PE ratio of 20.29, a P/E/G ratio of 2.41 and a beta of 0.40. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $190.22. 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 issued its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) 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 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 business's revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.82 earnings per share. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. On average, equities research analysts expect 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. Investors 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 2.7%. Johnson & Johnson's dividend payout ratio is 55.61%.

Johnson & Johnson Company 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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