RNC Capital Management LLC Increases Position in Johnson & Johnson $JNJ

Key Points

• RNC Capital Management LLC increased its stake in Johnson & Johnson by 20.2%, now owning 277,640 shares valued at approximately $46 million.
• The company announced a quarterly dividend of $1.30 per share, translating to an annual yield of 2.9%.
• Johnson & Johnson reported an earnings per share of $2.77 for the last quarter, exceeding estimates, with year-over-year revenue growth of 5.8%.

RNC Capital Management LLC raised its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 20.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 277,640 shares of the company's stock after purchasing an additional 46,726 shares during the quarter. Johnson & Johnson accounts for about 2.3% of RNC Capital Management LLC's investment portfolio, making the stock its 16th biggest holding. RNC Capital Management LLC's holdings in Johnson & Johnson were worth $46,044,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Elios Financial Group Inc. lifted its position in Johnson & Johnson by 1.5% during the 1st quarter. Elios Financial Group Inc. now owns 4,496 shares of the company's stock valued at $746,000 after purchasing an additional 66 shares during the period. Atlantic Family Wealth LLC lifted its holdings in shares of Johnson & Johnson by 4.4% during the 1st quarter. Atlantic Family Wealth LLC now owns 1,603 shares of the company's stock valued at $266,000 after purchasing an additional 67 shares in the last quarter. MBA Advisors LLC lifted its holdings in shares of Johnson & Johnson by 1.2% during the 1st quarter. MBA Advisors LLC now owns 5,553 shares of the company's stock valued at $921,000 after purchasing an additional 68 shares in the last quarter. Sovereign Financial Group Inc. boosted its position in shares of Johnson & Johnson by 1.8% during the first quarter. Sovereign Financial Group Inc. now owns 3,928 shares of the company's stock worth $651,000 after buying an additional 69 shares during the period. Finally, Nabity Jensen Investment Management Inc boosted its position in shares of Johnson & Johnson by 1.5% during the first quarter. Nabity Jensen Investment Management Inc now owns 4,624 shares of the company's stock worth $767,000 after buying an additional 69 shares during the period. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Down 0.3%

JNJ opened at $178.20 on Monday. Johnson & Johnson has a one year low of $140.68 and a one year high of $181.16. The company has a fifty day moving average price of $168.57 and a 200-day moving average price of $160.79. 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 firm has a market capitalization of $429.15 billion, a P/E ratio of 19.06, a price-to-earnings-growth ratio of 2.27 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its earnings results 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 return on equity of 32.49% and a net margin of 25.00%.The business had revenue of $23.74 billion during the quarter, compared to analysts' expectations of $22.85 billion. During the same period in the previous year, the business earned $2.82 earnings per share. The firm's revenue was up 5.8% on a year-over-year basis. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. Equities research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio is currently 55.61%.

Insider Transactions at Johnson & Johnson

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the company'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 completion of the sale, the executive vice president directly 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.16% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Citigroup raised their price objective on Johnson & Johnson from $185.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, August 21st. Leerink Partners downgraded Johnson & Johnson from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $169.00 to $153.00 in a report on Tuesday, May 13th. Bank of America upped their target price on Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. UBS Group raised their target price on Johnson & Johnson from $180.00 to $190.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Finally, Erste Group Bank raised shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $176.29.

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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