State of Alaska Department of Revenue Sells 11,905 Shares of Johnson & Johnson $JNJ

Key Points

• The State of Alaska Department of Revenue decreased its holdings in Johnson & Johnson by 3.4%, selling 11,905 shares and now owning 340,473 shares valued at approximately $52 million.
• Several institutional investors, including Vanguard Group and Bank of New York Mellon Corp, have recently increased their positions in Johnson & Johnson, reflecting strong institutional interest in the company.
• Johnson & Johnson's stock has received significant analyst upgrades, with Guggenheim raising its rating from "neutral" to "buy" and increasing the price target to $206.

State of Alaska Department of Revenue cut its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 3.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 340,473 shares of the company's stock after selling 11,905 shares during the period. Johnson & Johnson accounts for 0.6% of State of Alaska Department of Revenue's holdings, making the stock its 22nd biggest holding. State of Alaska Department of Revenue's holdings in Johnson & Johnson were worth $52,006,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of JNJ. Vanguard Group Inc. raised its position 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 worth $38,800,371,000 after acquiring an additional 1,170,120 shares in the last quarter. Northern Trust Corp raised its holdings in Johnson & Johnson by 0.4% in the first quarter. Northern Trust Corp now owns 30,943,820 shares of the company's stock worth $5,131,723,000 after purchasing an additional 130,645 shares in the last quarter. Bank of New York Mellon Corp boosted 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 buying an additional 4,842,582 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Johnson & Johnson by 3.9% in 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 last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in Johnson & Johnson by 2.5% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 18,282,410 shares of the company's stock valued at $3,031,955,000 after buying an additional 448,666 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company's stock.

Insider Buying and Selling

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction that occurred 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 in the company, valued at $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 SEC, which is available at this hyperlink. 0.16% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on JNJ shares. Bank of America upped their price objective on shares of Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Morgan Stanley upped their target price on Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Guggenheim upgraded Johnson & Johnson from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $167.00 to $206.00 in a report on Tuesday, September 23rd. Piper Sandler reaffirmed an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Finally, Royal Bank Of Canada increased their price target on Johnson & Johnson from $181.00 to $185.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $181.40.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock opened at $179.69 on Friday. The business has a 50-day simple moving average of $174.41 and a 200-day simple moving average of $162.06. The company has a market cap of $432.75 billion, a PE ratio of 19.22, a P/E/G ratio of 2.29 and a beta of 0.40. Johnson & Johnson has a one year low of $140.68 and a one year high of $181.16. 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 quarterly 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 net margin of 25.00% and a return on equity of 32.49%. The company had revenue of $23.74 billion during the quarter, compared to analysts' expectations of $22.85 billion. During the same quarter in the previous year, the business posted $2.82 EPS. 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. On average, equities research analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently announced 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 was Tuesday, August 26th. This represents a $5.20 annualized dividend and a yield of 2.9%. Johnson & Johnson's payout ratio is presently 55.61%.

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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