QRG Capital Management Inc. Raises Position in Johnson & Johnson $JNJ

Key Points

• QRG Capital Management Inc. increased its stake in Johnson & Johnson by 8.5%, now holding 539,823 shares valued at approximately $82.5 million as of the latest SEC filing.
• Johnson & Johnson's stock recently saw a 1.4% increase, and the company reported $2.77 EPS for the last quarter, exceeding estimates with revenue of $23.74 billion.
• The company announced a quarterly dividend of $1.30, reflecting an annualized yield of 2.8% and a payout ratio of 55.61%.

QRG Capital Management Inc. lifted its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 8.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 539,823 shares of the company's stock after purchasing an additional 42,423 shares during the quarter. Johnson & Johnson comprises 0.7% of QRG Capital Management Inc.'s portfolio, making the stock its 18th biggest holding. QRG Capital Management Inc.'s holdings in Johnson & Johnson were worth $82,458,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Highline Wealth Partners LLC boosted its stake 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 purchasing an additional 86 shares during the period. Stone House Investment Management LLC purchased a new position in shares of Johnson & Johnson during the first quarter valued at approximately $47,000. 1248 Management LLC bought a new position in shares of Johnson & Johnson during the first quarter valued at approximately $48,000. von Borstel & Associates Inc. purchased a new stake in shares of Johnson & Johnson in the first quarter worth approximately $49,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Johnson & Johnson during the 1st quarter worth approximately $52,000. Hedge funds and other institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Up 1.4%

NYSE:JNJ opened at $188.51 on Monday. The company's 50 day moving average is $176.18 and its two-hundred day moving average is $162.83. The company has a market cap of $453.98 billion, a PE ratio of 20.16, a P/E/G ratio of 2.40 and a beta of 0.40. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $189.78. 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 posted its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 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 business had revenue of $23.74 billion during the quarter, compared to the consensus estimate of $22.85 billion. During the same period in the previous year, the firm posted $2.82 earnings per share. The business'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. Analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

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

Insiders Place Their Bets

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the firm'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 transaction of $10,041,108.51. Following the completion of the transaction, the executive vice president directly owned 178,013 shares of the company's stock, valued at approximately $31,652,491.53. This trade represents a 24.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.16% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Barclays upped their price objective on Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Royal Bank Of Canada upped their price target on shares of Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Citigroup raised their price target 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. The Goldman Sachs Group boosted their price objective on shares of Johnson & Johnson from $185.00 to $186.00 and gave the company a "buy" rating in a research report on Friday, September 19th. Finally, Piper Sandler reissued an "overweight" rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $188.88.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.