RMG Wealth Management LLC Acquires New Position in Johnson & Johnson $JNJ

Key Points

• RMG Wealth Management LLC has acquired a new stake in Johnson & Johnson, purchasing 2,782 shares valued at approximately $457,000, making it the firm's 27th largest holding.
• Several institutional investors, including Nuveen LLC and Pacer Advisors Inc., have significantly increased their stakes in Johnson & Johnson, collectively holding over 69.55% of the company's stock.
• Johnson & Johnson reported earnings of $2.77 EPS for the last quarter, surpassing analyst expectations and showing a year-over-year revenue increase of 5.8%.

RMG Wealth Management LLC acquired a new stake in Johnson & Johnson (NYSE:JNJ - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,782 shares of the company's stock, valued at approximately $457,000. Johnson & Johnson makes up 0.1% of RMG Wealth Management LLC's investment portfolio, making the stock its 27th largest holding.

A number of other institutional investors have also recently made changes to their positions in JNJ. Nuveen LLC purchased a new position in Johnson & Johnson in the first quarter worth approximately $1,369,188,000. Bank of New York Mellon Corp lifted its stake in Johnson & Johnson by 26.4% in the first quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock worth $3,844,580,000 after acquiring an additional 4,842,582 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Johnson & Johnson by 1,382.0% in the first quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company's stock worth $502,509,000 after acquiring an additional 2,825,626 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Johnson & Johnson by 159.6% in the second quarter. Assenagon Asset Management S.A. now owns 4,159,260 shares of the company's stock worth $635,327,000 after acquiring an additional 2,557,388 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new position in Johnson & Johnson in the second quarter worth approximately $401,420,000. Institutional investors and hedge funds own 69.55% of the company's stock.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock opened at $189.75 on Thursday. The firm's fifty day simple moving average is $177.49 and its 200-day simple moving average is $163.37. The stock has a market capitalization of $456.98 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 2.41 and a beta of 0.40. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $190.22. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $0.09. The business had revenue of $23.74 billion for 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 company's quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.82 EPS. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. As a group, equities analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Tuesday, August 26th. Johnson & Johnson's payout ratio is presently 55.61%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. HSBC lifted their price target on shares of Johnson & Johnson from $188.00 to $210.00 in a research note on Tuesday, September 30th. Weiss Ratings upgraded shares of Johnson & Johnson from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday. 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 report 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 report on Tuesday, September 16th. Finally, UBS Group set a $198.00 price objective on shares of Johnson & Johnson in a research report on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, Johnson & Johnson currently has an average rating of "Moderate Buy" and a consensus price target of $189.88.

Insider Activity at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson stock in a transaction 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 transaction, the executive vice president directly owned 178,013 shares of the company's stock, valued at $31,652,491.53. The trade was 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 owned by insiders.

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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