Puzo Michael J Cuts Holdings in Johnson & Johnson $JNJ

Key Points

• Puzo Michael J reduced its stake in Johnson & Johnson by 4.6%, now holding 67,564 shares valued at approximately $10.32 million, making it the 14th largest holding in their portfolio.
• Johnson & Johnson reported earnings per share (EPS) of $2.77 for the last quarter, surpassing estimates and reflecting a 5.8% year-over-year revenue increase to $23.74 billion.
• The company has recently declared a quarterly dividend of $1.30 per share, with a yield of 2.7% and a payout ratio of 55.61%.

Puzo Michael J lessened its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 4.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,564 shares of the company's stock after selling 3,291 shares during the period. Johnson & Johnson makes up about 2.9% of Puzo Michael J's holdings, making the stock its 14th biggest holding. Puzo Michael J's holdings in Johnson & Johnson were worth $10,320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Lakeshore Capital Group Inc. grew its stake in Johnson & Johnson by 20.3% in the 2nd quarter. Lakeshore Capital Group Inc. now owns 8,743 shares of the company's stock worth $1,335,000 after buying an additional 1,475 shares in the last quarter. REAP Financial Group LLC grew its stake in Johnson & Johnson by 28.8% in the 2nd quarter. REAP Financial Group LLC now owns 2,176 shares of the company's stock worth $332,000 after buying an additional 487 shares in the last quarter. Sax Wealth Advisors LLC grew its stake in Johnson & Johnson by 41.8% in the 2nd quarter. Sax Wealth Advisors LLC now owns 31,320 shares of the company's stock worth $4,784,000 after buying an additional 9,232 shares in the last quarter. Venturi Wealth Management LLC grew its stake in Johnson & Johnson by 0.7% in the 2nd quarter. Venturi Wealth Management LLC now owns 20,026 shares of the company's stock worth $3,059,000 after buying an additional 137 shares in the last quarter. Finally, High Note Wealth LLC boosted its stake in shares of Johnson & Johnson by 19.5% in the 2nd quarter. High Note Wealth LLC now owns 5,750 shares of the company's stock valued at $878,000 after purchasing an additional 940 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Up 0.7%

Shares of Johnson & Johnson stock opened at $190.97 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. The company has a 50-day moving average of $178.01 and a 200 day moving average of $163.56. The firm has a market cap of $459.92 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 2.42 and a beta of 0.40. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $192.10.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly 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. 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 during the quarter, compared to analyst estimates of $22.85 billion. During the same period last year, the business earned $2.82 EPS. Johnson & Johnson's quarterly revenue 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. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company 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. This represents a $5.20 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Tuesday, August 26th. Johnson & Johnson's dividend payout ratio is 55.61%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on JNJ shares. Morgan Stanley upped their price objective on shares of Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Wells Fargo & Company set a $212.00 price objective on shares of Johnson & Johnson and gave the company an "overweight" rating in a research note on Friday, October 3rd. Barclays upped their price objective on shares of Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. HSBC upped their price objective on shares of Johnson & Johnson from $188.00 to $210.00 in a research note on Tuesday, September 30th. Finally, UBS Group set a $198.00 price target on shares of Johnson & Johnson in a report on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, Johnson & Johnson presently has a consensus rating of "Moderate Buy" and a consensus target price of $191.41.

Insider Activity

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the firm's stock in a transaction dated 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 sale, the executive vice president owned 178,013 shares of the company's stock, valued at $31,652,491.53. This trade represents a 24.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.16% of the stock is currently owned by insiders.

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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