Johnson & Johnson $JNJ Shares Sold by Grassi Investment Management

Grassi Investment Management reduced its position in shares of Johnson & Johnson (NYSE:JNJ) by 0.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,125 shares of the company’s stock after selling 200 shares during the period. Grassi Investment Management’s holdings in Johnson & Johnson were worth $8,879,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in JNJ. Brighton Jones LLC boosted its stake in Johnson & Johnson by 13.9% in the fourth quarter. Brighton Jones LLC now owns 51,876 shares of the company’s stock valued at $7,502,000 after acquiring an additional 6,332 shares during the period. Wealth Group Ltd. bought a new stake in shares of Johnson & Johnson in the 1st quarter worth approximately $218,000. Gateway Investment Advisers LLC boosted its position in Johnson & Johnson by 8.6% during the 1st quarter. Gateway Investment Advisers LLC now owns 564,807 shares of the company’s stock valued at $93,668,000 after purchasing an additional 44,614 shares during the period. Intergy Private Wealth LLC acquired a new stake in Johnson & Johnson in the first quarter worth $339,000. Finally, Joule Financial LLC lifted its stake in Johnson & Johnson by 4.1% in the first quarter. Joule Financial LLC now owns 2,391 shares of the company’s stock valued at $397,000 after buying an additional 95 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on JNJ shares. JPMorgan Chase & Co. upped their price target on shares of Johnson & Johnson from $185.00 to $200.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 16th. Wells Fargo & Company set a $212.00 price target on shares of Johnson & Johnson and gave the company an “overweight” rating in a research note on Friday. Barclays boosted their price objective on Johnson & Johnson from $165.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 17th. UBS Group set a $198.00 target price on Johnson & Johnson in a research report on Friday. Finally, Wall Street Zen raised Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $188.88.

Johnson & Johnson Stock Performance

JNJ opened at $188.51 on Monday. The business has a 50 day moving average price of $176.18 and a two-hundred day moving average price of $162.83. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. The company has a market capitalization of $453.98 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 2.40 and a beta of 0.40. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $189.78.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.09. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%.The company had revenue of $23.74 billion for the quarter, compared to the consensus estimate of $22.85 billion. During the same quarter in the previous year, the business earned $2.82 EPS. The company’s quarterly revenue 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. Research analysts predict that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Tuesday, August 26th. Johnson & Johnson’s payout ratio is presently 55.61%.

Insider Buying and Selling

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president directly owned 178,013 shares in the company, 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 SEC, which is available at the SEC website. 0.16% of the stock is currently owned by corporate insiders.

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.