Smith Chas P & Associates PA Cpas Has $39.64 Million Holdings in Johnson & Johnson $JNJ

Key Points

• Smith Chas P & Associates PA Cpas increased its holdings in Johnson & Johnson by 2.4%, owning approximately $39.64 million in stock that represents about 2.2% of its total portfolio.
• Johnson & Johnson reported a strong earnings quarter, with $2.77 EPS, exceeding expectations, and revenue growth of 5.8% year-over-year, totaling $23.74 billion.
• Several institutional investors have raised their stakes in Johnson & Johnson, reflecting a strong confidence in the company's growth, with institutions collectively owning 69.55% of the company's shares.

Smith Chas P & Associates PA Cpas increased its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 2.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 259,477 shares of the company's stock after buying an additional 6,126 shares during the quarter. Johnson & Johnson accounts for approximately 2.2% of Smith Chas P & Associates PA Cpas' holdings, making the stock its 16th largest holding. Smith Chas P & Associates PA Cpas' holdings in Johnson & Johnson were worth $39,635,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Johnson & Johnson by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 233,962,679 shares of the company's stock valued at $38,800,371,000 after purchasing an additional 1,170,120 shares during the period. Northern Trust Corp grew its holdings in shares of Johnson & Johnson by 0.4% in the 1st quarter. Northern Trust Corp now owns 30,943,820 shares of the company's stock valued at $5,131,723,000 after acquiring an additional 130,645 shares in the last quarter. Bank of New York Mellon Corp grew its holdings 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 acquiring an additional 4,842,582 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Johnson & Johnson by 3.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 18,899,263 shares of the company's stock worth $3,133,602,000 after purchasing an additional 712,181 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in Johnson & Johnson by 2.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 18,282,410 shares of the company's stock worth $3,031,955,000 after acquiring an additional 448,666 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company's stock.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $185.40 on Wednesday. The firm's fifty day moving average price is $175.11 and its two-hundred day moving average price is $162.34. The stock has a market cap of $446.51 billion, a PE ratio of 19.83, a PEG ratio of 2.31 and a beta of 0.40. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $185.99. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping analysts' consensus estimates of $2.68 by $0.09. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The firm had revenue of $23.74 billion for the quarter, compared to analysts' expectations of $22.85 billion. During the same quarter in the previous year, the firm posted $2.82 earnings per share. The company'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. On average, equities analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal 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 $1.30 dividend. The ex-dividend date of this dividend was Tuesday, August 26th. This represents a $5.20 annualized dividend and a dividend yield of 2.8%. Johnson & Johnson's payout ratio is currently 55.61%.

Insider Buying and Selling at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the business's 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 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on JNJ shares. Guggenheim upgraded shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $167.00 to $206.00 in a research report on Tuesday, September 23rd. Piper Sandler reiterated an "overweight" rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Citigroup lifted their price target on shares of Johnson & Johnson from $185.00 to $200.00 and gave the company a "buy" rating in a research report on Thursday, August 21st. Royal Bank Of Canada boosted their price objective on shares of Johnson & Johnson from $181.00 to $185.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. 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 analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $181.40.

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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