Sax Wealth Advisors LLC Boosts Stake in Johnson & Johnson $JNJ

Key Points

• Sax Wealth Advisors LLC increased its stake in Johnson & Johnson by 41.8%, now owning 31,320 shares valued at $4.78 million.
• Johnson & Johnson reported a 5.8% year-over-year revenue growth with quarterly earnings surpassing estimates, showing an EPS of $2.77 against a consensus of $2.68.
• The company recently declared a quarterly dividend of $1.30 per share, representing a 2.7% annual yield and a payout ratio of 55.61%.

Sax Wealth Advisors LLC increased its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 41.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,320 shares of the company's stock after acquiring an additional 9,232 shares during the period. Sax Wealth Advisors LLC's holdings in Johnson & Johnson were worth $4,784,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Nuveen LLC bought a new position in Johnson & Johnson during the first quarter valued at approximately $1,369,188,000. Bank of New York Mellon Corp boosted its stake in shares of Johnson & Johnson by 26.4% in the 1st quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock valued at $3,844,580,000 after purchasing an additional 4,842,582 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Johnson & Johnson by 1,382.0% during the 1st quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company's stock valued at $502,509,000 after purchasing an additional 2,825,626 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Johnson & Johnson by 159.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,159,260 shares of the company's stock worth $635,327,000 after purchasing an additional 2,557,388 shares during the period. Finally, Kingstone Capital Partners Texas LLC bought a new stake in Johnson & Johnson in the second quarter worth $401,420,000. Hedge funds and other institutional investors own 69.55% of the company's stock.

Insider Buying and Selling

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the business'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. The trade was a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.16% of the stock is owned by insiders.

Johnson & Johnson Trading Up 0.5%

Shares of 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 firm 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. 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 has a 1-year low of $140.68 and a 1-year high of $190.22.

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 for the quarter, compared to analyst estimates of $22.85 billion. During the same quarter in the previous year, the firm posted $2.82 earnings per share. Johnson & Johnson's quarterly 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. Sell-side analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group raised their price objective on Johnson & Johnson from $185.00 to $186.00 and gave the company a "buy" rating in a research note on Friday, September 19th. Erste Group Bank upgraded Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Citigroup lifted their target price on shares of Johnson & Johnson from $200.00 to $213.00 and gave the stock a "buy" rating in a research note on Tuesday. Bank of America increased their price target on shares of Johnson & Johnson from $175.00 to $198.00 and gave the company a "neutral" rating in a research report on Friday, October 3rd. Finally, Morgan Stanley boosted 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 report on Thursday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $189.88.

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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