Tritonpoint Wealth LLC Decreases Stake in Johnson & Johnson $JNJ

Key Points

• Tritonpoint Wealth LLC reduced its stake in Johnson & Johnson by 2.6%, bringing its total holdings to approximately 81,181 shares worth $12.4 million.
• Multiple institutional investors, including Vanguard Group and Bank of New York Mellon, have increased their holdings in Johnson & Johnson during the first quarter.
• Analysts have raised their price targets for Johnson & Johnson, with a consensus rating of "Moderate Buy" and a target price of $181.40.

Tritonpoint Wealth LLC lessened its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 2.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,181 shares of the company's stock after selling 2,204 shares during the period. Johnson & Johnson makes up 1.1% of Tritonpoint Wealth LLC's holdings, making the stock its 18th biggest position. Tritonpoint Wealth LLC's holdings in Johnson & Johnson were worth $12,400,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Johnson & Johnson by 0.5% during the first quarter. Vanguard Group Inc. now owns 233,962,679 shares of the company's stock worth $38,800,371,000 after purchasing an additional 1,170,120 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Johnson & Johnson by 0.4% during 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 during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Johnson & Johnson by 26.4% during the first 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 last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of 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 purchasing an additional 448,666 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company's stock.

Analysts Set New Price Targets

JNJ has been the topic of several analyst reports. UBS Group raised their price target on shares of Johnson & Johnson from $180.00 to $190.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Citigroup raised 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. Erste Group Bank upgraded shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada raised their price target 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, Wall Street Zen upgraded shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Johnson & Johnson has a consensus rating of "Moderate Buy" and a consensus target price of $181.40.

Insiders Place Their Bets

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the business's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $177.81, for a total transaction 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. The trade was a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.16% of the company's stock.

Johnson & Johnson Stock Up 1.1%

Shares of NYSE JNJ opened at $179.69 on Monday. The company's 50-day simple moving average is $174.41 and its 200-day simple moving average is $162.05. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $181.16. The firm has a market cap of $432.75 billion, a price-to-earnings ratio of 19.22, a price-to-earnings-growth ratio of 2.29 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 earnings results 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 net margin of 25.00% and a return on equity of 32.49%. The business had revenue of $23.74 billion for the quarter, compared to analyst estimates of $22.85 billion. During the same quarter last year, the business earned $2.82 earnings per share. The company'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. Equities analysts predict 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. Investors of record on Tuesday, August 26th were given a dividend of $1.30 per share. The ex-dividend date was Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a yield of 2.9%. Johnson & Johnson's payout ratio is presently 55.61%.

Johnson & Johnson 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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