Sunpointe LLC Purchases 2,257 Shares of Johnson & Johnson $JNJ

Key Points

• Sunpointe LLC increased its holdings in Johnson & Johnson by 15.9%, now owning approximately 16,428 shares valued at $2.51 million, making it the firm's 23rd largest position.
• Johnson & Johnson recently reported earnings of $2.77 EPS, above analysts' estimates, with revenues reaching $23.74 billion, marking a 5.8% year-over-year increase.
• The company announced a quarterly dividend of $1.30 per share, representing an annualized amount of $5.20 and a yield of 2.9%.

Sunpointe LLC boosted its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 15.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,428 shares of the company's stock after purchasing an additional 2,257 shares during the quarter. Johnson & Johnson comprises approximately 1.0% of Sunpointe LLC's investment portfolio, making the stock its 23rd biggest position. Sunpointe LLC's holdings in Johnson & Johnson were worth $2,509,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Taylor Hoffman Capital Management LLC boosted its position in shares of Johnson & Johnson by 2.6% in the second quarter. Taylor Hoffman Capital Management LLC now owns 29,862 shares of the company's stock valued at $4,561,000 after acquiring an additional 763 shares during the period. Westshore Wealth LLC boosted its position in shares of Johnson & Johnson by 4.3% in the second quarter. Westshore Wealth LLC now owns 2,600 shares of the company's stock valued at $397,000 after acquiring an additional 107 shares during the period. GSG Advisors LLC boosted its position in shares of Johnson & Johnson by 71.4% in the second quarter. GSG Advisors LLC now owns 8,884 shares of the company's stock valued at $1,357,000 after acquiring an additional 3,701 shares during the period. Mirador Capital Partners LP boosted its position in shares of Johnson & Johnson by 5.4% in the second quarter. Mirador Capital Partners LP now owns 4,853 shares of the company's stock valued at $741,000 after acquiring an additional 248 shares during the period. Finally, StrongBox Wealth LLC boosted its position in shares of Johnson & Johnson by 3.4% in the second quarter. StrongBox Wealth LLC now owns 3,584 shares of the company's stock valued at $548,000 after acquiring an additional 118 shares during the period. 69.55% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Bank of America boosted their target price on shares of Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Barclays upped their price objective on shares of Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. JPMorgan Chase & Co. upped their price objective on shares of Johnson & Johnson from $185.00 to $200.00 and gave the stock a "neutral" rating in a research report on Tuesday. Piper Sandler reaffirmed an "overweight" rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Finally, Royal Bank Of Canada upped their price objective on shares of Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $177.87.

Insider Activity

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the company's stock in a transaction that occurred on 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 sale, 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 legal filing with the SEC, which is available at this hyperlink. 0.16% of the stock is owned by corporate insiders.

Johnson & Johnson Trading Down 1.7%

Shares of Johnson & Johnson stock traded down $2.95 on Thursday, hitting $174.25. The stock had a trading volume of 8,191,781 shares, compared to its average volume of 7,028,085. The stock has a 50 day moving average of $172.42 and a 200 day moving average of $161.62. Johnson & Johnson has a twelve month low of $140.68 and a twelve month 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. The firm has a market capitalization of $419.66 billion, a P/E ratio of 18.64, a PEG ratio of 2.26 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.09. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%.The company had revenue of $23.74 billion during the quarter, compared to the consensus estimate of $22.85 billion. During the same quarter in the prior year, the firm posted $2.82 earnings per share. The firm's revenue was up 5.8% compared to the same quarter last year. 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 fiscal year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders 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 3.0%. Johnson & Johnson's dividend payout ratio is currently 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.