TOWER TRUST & INVESTMENT Co Raises Stock Position in Johnson & Johnson $JNJ

Key Points

• TOWER TRUST & INVESTMENT Co increased its stake in Johnson & Johnson by 1,102.3%, owning 4,172 shares worth approximately $637,000 after acquiring an additional 3,825 shares in the 2nd quarter.
• Johnson & Johnson's stock has a market capitalization of $432.75 billion, with shares trading at $179.69, and has seen revenues increase by 5.8% year-over-year in its latest earnings report.
• Multiple analysts have revised their price targets for Johnson & Johnson, with upgrades from Bank of America and Citigroup, indicating an overall positive sentiment among analysts with a consensus rating of "Moderate Buy".

TOWER TRUST & INVESTMENT Co increased its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 1,102.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,172 shares of the company's stock after purchasing an additional 3,825 shares during the quarter. TOWER TRUST & INVESTMENT Co's holdings in Johnson & Johnson were worth $637,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in JNJ. Nuveen LLC purchased a new position in shares of Johnson & Johnson during the 1st quarter worth $1,369,188,000. Bank of New York Mellon Corp boosted its stake in shares of 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 acquiring an additional 4,842,582 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Johnson & Johnson by 1,382.0% during the 1st quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company's stock worth $502,509,000 after acquiring an additional 2,825,626 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Johnson & Johnson by 159.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,159,260 shares of the company's stock worth $635,327,000 after acquiring an additional 2,557,388 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new position in shares of Johnson & Johnson during the 2nd quarter worth $401,420,000. Hedge funds and other institutional investors own 69.55% of the company's stock.

Insider Buying and Selling at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the company's 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 completion of the sale, the executive vice president owned 178,013 shares of the company's stock, valued at approximately $31,652,491.53. This represents a 24.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.16% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on JNJ. Bank of America raised their price objective 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 raised their price objective on shares of Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Guggenheim upgraded shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and raised their price objective for the company from $167.00 to $206.00 in a research report on Tuesday, September 23rd. Wall Street Zen upgraded shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. Finally, Citigroup raised their price objective 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. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $181.40.

Johnson & Johnson Stock Performance

Johnson & Johnson stock opened at $179.69 on Monday. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $181.16. 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 company's 50-day moving average price is $174.41 and its 200-day moving average price is $162.05. The company has a market cap of $432.75 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 2.29 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 EPS 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 during the quarter, compared to analysts' expectations of $22.85 billion. During the same period in the previous year, the company earned $2.82 EPS. The firm's revenue for the quarter 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. 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 declared a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Tuesday, August 26th. Johnson & Johnson's dividend payout ratio is presently 55.61%.

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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