Webster Bank N. A. Decreases Stake in Johnson & Johnson $JNJ

Key Points

• Webster Bank N. A. reduced its stake in Johnson & Johnson by 5.6% in the second quarter, now owning 42,083 shares valued at approximately $6.4 million.
• Several institutional investors, including Vanguard Group Inc. and Bank of New York Mellon Corp., increased their holdings in Johnson & Johnson, reflecting continued interest in the company.
• Analysts' ratings for Johnson & Johnson are generally positive, with the stock receiving an average rating of "Moderate Buy" and a target price of $176.29 based on recent assessments.

Webster Bank N. A. lowered its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 5.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,083 shares of the company's stock after selling 2,483 shares during the quarter. Webster Bank N. A.'s holdings in Johnson & Johnson were worth $6,428,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in 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 in the last quarter. Northern Trust Corp raised its holdings in 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 in the last quarter. Bank of New York Mellon Corp raised its holdings in 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 in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in 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 in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in 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 in the last quarter. Hedge funds and other institutional investors own 69.55% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Bank of America raised their price objective on shares of Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. UBS Group raised their price objective on shares of Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Erste Group Bank raised shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Morgan Stanley raised their price objective on shares of Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Finally, Citigroup lifted their target price on shares of Johnson & Johnson from $185.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $176.29.

Insider Activity at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the company'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 completion of the transaction, the executive vice president owned 178,013 shares of the company's stock, valued at $31,652,491.53. This represents a 24.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.16% of the stock is currently owned by corporate insiders.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $178.10 on Monday. Johnson & Johnson has a 52 week low of $140.68 and a 52 week 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 firm's 50-day simple moving average is $170.81 and its 200 day simple moving average is $161.27. The firm has a market capitalization of $428.93 billion, a PE ratio of 19.05, a P/E/G ratio of 2.27 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 EPS for the quarter, topping 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 period in the previous year, the firm earned $2.82 EPS. The business'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 predict that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.9%. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.