Simplicity Wealth LLC Boosts Position in Johnson & Johnson $JNJ

Key Points

• Simplicity Wealth LLC has significantly increased its stake in Johnson & Johnson by 95.9% in the second quarter, now holding 55,845 shares worth approximately $8.53 million.
• Insider Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson for over $10 million, reducing her ownership by 24.08% to around 178,013 shares.
• Johnson & Johnson's recent earnings surpassed analysts' expectations with revenues of $23.74 billion and $2.77 EPS, while the stock analysts set a consensus price target of $189.12.

Simplicity Wealth LLC raised its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 95.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,845 shares of the company's stock after buying an additional 27,338 shares during the period. Simplicity Wealth LLC's holdings in Johnson & Johnson were worth $8,530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of JNJ. Elios Financial Group Inc. grew its position in shares of Johnson & Johnson by 1.5% during the 1st quarter. Elios Financial Group Inc. now owns 4,496 shares of the company's stock worth $746,000 after buying an additional 66 shares in the last quarter. Atlantic Family Wealth LLC grew its holdings in Johnson & Johnson by 4.4% during the 1st quarter. Atlantic Family Wealth LLC now owns 1,603 shares of the company's stock worth $266,000 after acquiring an additional 67 shares in the last quarter. MBA Advisors LLC increased its position in 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 during the period. Nabity Jensen Investment Management Inc lifted its position in shares of Johnson & Johnson by 1.5% in the 1st quarter. Nabity Jensen Investment Management Inc now owns 4,624 shares of the company's stock worth $767,000 after purchasing an additional 69 shares during the period. Finally, Jackson Grant Investment Advisers Inc. boosted its stake in shares of Johnson & Johnson by 0.5% during the first quarter. Jackson Grant Investment Advisers Inc. now owns 12,970 shares of the company's stock valued at $2,151,000 after purchasing an additional 69 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction dated Thursday, September 4th. The stock was 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 approximately $31,652,491.53. This represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.16% of the company's stock.

Johnson & Johnson Stock Performance

JNJ opened at $188.23 on Tuesday. The company has a market cap of $453.32 billion, a P/E ratio of 20.13, a price-to-earnings-growth ratio of 2.40 and a beta of 0.40. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. The firm's 50-day moving average price is $176.62 and its 200-day moving average price is $163.00. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $189.92.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.09. The company had revenue of $23.74 billion for the quarter, compared to the consensus estimate of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. Johnson & Johnson's revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.82 EPS. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. As a group, equities analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts recently commented on JNJ shares. Wall Street Zen raised shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Erste Group Bank upgraded Johnson & Johnson from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Guggenheim upgraded Johnson & Johnson from a "neutral" rating to a "buy" rating and lifted their target price for the company from $167.00 to $206.00 in a research note on Tuesday, September 23rd. 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. Finally, Morgan Stanley lifted their price objective on shares of Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Johnson & Johnson presently has a consensus rating of "Moderate Buy" and a consensus price target of $189.12.

Johnson & Johnson 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.