Strs Ohio Purchases Shares of 822,687 Johnson & Johnson $JNJ

Key Points

• Strs Ohio acquired 822,687 shares of Johnson & Johnson, valued at approximately $136.4 million, during the first quarter, making it the firm's 22nd largest position.
• Johnson & Johnson reported a quarterly earnings of $2.77 EPS, exceeding expectations, with revenue of $23.74 billion, up 5.8% from the previous year.
• A quarterly dividend of $1.30 was recently announced, representing an annualized yield of 3.0% with a dividend payout ratio of 55.61%.

Strs Ohio bought a new position in Johnson & Johnson (NYSE:JNJ - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 822,687 shares of the company's stock, valued at approximately $136,434,000. Johnson & Johnson accounts for approximately 0.6% of Strs Ohio's holdings, making the stock its 22nd biggest position.

Several other large investors have also made changes to their positions in the company. 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 buying an additional 1,170,120 shares during the period. Northern Trust Corp boosted its position in Johnson & Johnson by 0.4% during the 1st 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 during the period. Bank of New York Mellon Corp boosted its position in Johnson & Johnson by 26.4% during the 1st quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock worth $3,844,580,000 after purchasing an additional 4,842,582 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Johnson & Johnson by 3.9% during the 1st 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 boosted 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 worth $3,031,955,000 after purchasing an additional 448,666 shares during the period. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Trading Down 0.7%

Johnson & Johnson stock opened at $175.70 on Thursday. The firm has a 50-day moving average price of $169.91 and a two-hundred day moving average price of $161.12. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $181.16. The firm has a market capitalization of $423.15 billion, a price-to-earnings ratio of 18.79, a PEG ratio of 2.25 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.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.68 by $0.09. The company had revenue of $23.74 billion for the quarter, compared to analyst estimates 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 last year, the business earned $2.82 earnings per share. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. Sell-side analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently announced 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 was Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a yield of 3.0%. Johnson & Johnson's dividend payout ratio (DPR) is presently 55.61%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on JNJ. Erste Group Bank raised shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Citigroup lifted their price target on shares of Johnson & Johnson from $185.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, August 21st. Guggenheim reaffirmed a "neutral" rating and set a $167.00 price target (up previously from $164.00) on shares of Johnson & Johnson in a research note on Thursday, July 17th. UBS Group lifted their price target on shares of Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Finally, Morgan Stanley lifted their price target on shares of Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of "Moderate Buy" and a consensus price target of $176.29.

Insider Transactions at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the firm'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 transaction, the executive vice president directly owned 178,013 shares in the company, valued at approximately $31,652,491.53. This trade represents a 24.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.16% of the company's stock.

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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