Johnson & Johnson $JNJ Shares Acquired by Cove Private Wealth LLC

Cove Private Wealth LLC raised its stake in Johnson & Johnson (NYSE:JNJ) by 42.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,384 shares of the company’s stock after purchasing an additional 4,585 shares during the period. Johnson & Johnson accounts for about 0.8% of Cove Private Wealth LLC’s holdings, making the stock its 26th biggest position. Cove Private Wealth LLC’s holdings in Johnson & Johnson were worth $2,350,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of JNJ. Brighton Jones LLC boosted its stake in shares of Johnson & Johnson by 13.9% during the 4th quarter. Brighton Jones LLC now owns 51,876 shares of the company’s stock valued at $7,502,000 after buying an additional 6,332 shares during the last quarter. AdvisorNet Financial Inc increased its holdings in shares of Johnson & Johnson by 3.3% during the first quarter. AdvisorNet Financial Inc now owns 11,479 shares of the company’s stock valued at $1,904,000 after purchasing an additional 362 shares during the period. Spartan Planning & Wealth Management acquired a new position in shares of Johnson & Johnson during the first quarter valued at $678,000. Doliver Advisors LP increased its holdings in shares of Johnson & Johnson by 1.4% during the first quarter. Doliver Advisors LP now owns 14,191 shares of the company’s stock valued at $2,353,000 after purchasing an additional 192 shares during the period. Finally, Andrew Hill Investment Advisors Inc. boosted its stake in Johnson & Johnson by 129.0% during the first quarter. Andrew Hill Investment Advisors Inc. now owns 38,037 shares of the company’s stock valued at $6,308,000 after buying an additional 21,428 shares in the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $179.69 on Friday. 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 stock’s 50 day moving average price is $174.41 and its 200-day moving average price is $162.06. The company has a market capitalization of $432.75 billion, a PE ratio of 19.22, a PEG ratio of 2.29 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) 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 firm had revenue of $23.74 billion for the quarter, compared to the consensus estimate of $22.85 billion. During the same quarter in the prior year, the business posted $2.82 earnings per share. The business’s quarterly 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. On average, equities analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, August 26th. Johnson & Johnson’s dividend payout ratio is currently 55.61%.

Insider Activity

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the firm’s stock in a transaction dated Thursday, September 4th. The stock was 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 of the company’s stock, valued at approximately $31,652,491.53. This trade represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Wall Street Zen upgraded Johnson & Johnson from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Morgan Stanley boosted their price objective on Johnson & Johnson from $171.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 17th. Piper Sandler restated an “overweight” rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Guggenheim upgraded Johnson & Johnson from a “neutral” rating to a “buy” rating and upped their price objective for the company from $167.00 to $206.00 in a research note on Tuesday, September 23rd. Finally, The Goldman Sachs Group raised their price objective on Johnson & Johnson from $185.00 to $186.00 and gave the stock a “buy” rating in a research note on Friday, September 19th. Two investment 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $181.40.

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.