Truvestments Capital LLC Grows Stock Position in Johnson & Johnson $JNJ

Key Points

• Truvestments Capital LLC increased its stake in Johnson & Johnson by 38.9%, now holding 36,745 shares worth approximately $6,094,000.
• Several analysts have updated their ratings on JNJ, with Citigroup raising its price target to $200 and maintaining a "buy" rating, while Leerink Partners downgraded it to "market perform" with a target of $153.
• Johnson & Johnson announced a quarterly dividend of $1.30 per share, representing an annualized yield of 2.9%, with the ex-dividend date on August 26th.

Truvestments Capital LLC lifted its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 38.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 36,745 shares of the company's stock after purchasing an additional 10,296 shares during the quarter. Johnson & Johnson accounts for about 1.3% of Truvestments Capital LLC's holdings, making the stock its 9th largest position. Truvestments Capital LLC's holdings in Johnson & Johnson were worth $6,094,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wealth Preservation Advisors LLC bought a new position in Johnson & Johnson in the 1st quarter worth about $94,000. B. Metzler seel. Sohn & Co. AG increased its stake in Johnson & Johnson by 1.5% in the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 442,855 shares of the company's stock worth $73,443,000 after acquiring an additional 6,407 shares during the last quarter. Paces Ferry Wealth Advisors LLC increased its stake in Johnson & Johnson by 8.3% in the 1st quarter. Paces Ferry Wealth Advisors LLC now owns 8,089 shares of the company's stock worth $1,341,000 after acquiring an additional 619 shares during the last quarter. Triad Wealth Partners LLC increased its stake in Johnson & Johnson by 20.3% in the 1st quarter. Triad Wealth Partners LLC now owns 3,702 shares of the company's stock worth $614,000 after acquiring an additional 624 shares during the last quarter. Finally, Guggenheim Capital LLC increased its stake in Johnson & Johnson by 8.2% in the 1st quarter. Guggenheim Capital LLC now owns 303,475 shares of the company's stock worth $50,328,000 after acquiring an additional 22,956 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on JNJ shares. Citigroup increased their price objective on Johnson & Johnson from $185.00 to $200.00 and gave the company a "buy" rating in a research report on Thursday, August 21st. Leerink Partners lowered Johnson & Johnson from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $169.00 to $153.00 in a research report on Tuesday, May 13th. Piper Sandler reiterated an "overweight" rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. UBS Group increased their price objective on Johnson & Johnson from $180.00 to $190.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Finally, Erste Group Bank upgraded Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $176.29.

Johnson & Johnson Trading Down 1.0%

Shares of JNJ stock opened at $176.63 on Wednesday. The stock has a market capitalization of $425.39 billion, a PE ratio of 18.89, a P/E/G ratio of 2.27 and a beta of 0.41. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $181.16. The business has a 50-day moving average of $164.44 and a 200 day moving average of $159.60. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76.

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 for the quarter, topping 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 business had revenue of $23.74 billion during the quarter, compared to analysts' expectations of $22.85 billion. During the same quarter last year, the business posted $2.82 EPS. The business'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. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio (DPR) is 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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