Woodline Partners LP Raises Stake in Johnson & Johnson $JNJ

Key Points

• Woodline Partners LP increased its stake in Johnson & Johnson by 6.5%, owning 509,970 shares valued at approximately $84.57 million.
• Johnson & Johnson reported earnings of $2.77 per share for the last quarter, exceeding analysts' expectations, with revenue reaching $23.74 billion.
• The company declared a quarterly dividend of $1.30 per share, which translates to an annualized dividend of $5.20 with a yield of 2.9%.

Woodline Partners LP increased its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 6.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 509,970 shares of the company's stock after buying an additional 31,187 shares during the period. Johnson & Johnson comprises about 0.5% of Woodline Partners LP's holdings, making the stock its 26th biggest position. Woodline Partners LP's holdings in Johnson & Johnson were worth $84,573,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in JNJ. Highline Wealth Partners LLC raised its holdings in shares of Johnson & Johnson by 51.8% in the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock worth $42,000 after purchasing an additional 86 shares during the period. Stone House Investment Management LLC purchased a new stake in shares of Johnson & Johnson during the first quarter worth $47,000. 1248 Management LLC bought a new position in shares of Johnson & Johnson in the first quarter worth $48,000. von Borstel & Associates Inc. purchased a new position in shares of Johnson & Johnson in the first quarter valued at $49,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Johnson & Johnson in the first quarter valued at $52,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Price Performance

JNJ opened at $178.30 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $429.40 billion, a P/E ratio of 19.07, a PEG ratio of 2.27 and a beta of 0.40. The stock has a 50-day moving average price of $169.09 and a 200-day moving average price of $160.90. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $181.16.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, beating analysts' consensus estimates of $2.68 by $0.09. The company had revenue of $23.74 billion for the quarter, compared to analysts' expectations of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%.Johnson & Johnson's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted $2.82 EPS. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. Equities analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be paid a $1.30 dividend. The ex-dividend date of this dividend is 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 55.61%.

Insider Activity at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson stock in a transaction 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 transaction, the executive vice president owned 178,013 shares in the company, valued at $31,652,491.53. This trade represents a 24.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wall Street Zen lowered shares of Johnson & Johnson from a "buy" rating to a "hold" rating in a research report on Friday. Morgan Stanley raised their price target on shares of Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Bank of America upped their price target 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. Barclays lifted their price objective on Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Finally, Leerink Partners lowered Johnson & Johnson from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $169.00 to $153.00 in a research note on Tuesday, May 13th. Two 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $176.29.

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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