Johnson & Johnson $JNJ Position Cut by Hodges Capital Management Inc.

Hodges Capital Management Inc. trimmed its stake in Johnson & Johnson (NYSE:JNJ) by 44.8% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 9,023 shares of the company’s stock after selling 7,334 shares during the quarter. Hodges Capital Management Inc.’s holdings in Johnson & Johnson were worth $1,496,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC lifted its stake in Johnson & Johnson by 51.8% in the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company’s stock valued at $42,000 after buying an additional 86 shares during the last quarter. Stone House Investment Management LLC bought a new stake in Johnson & Johnson in the first quarter valued at $47,000. 1248 Management LLC bought a new stake in Johnson & Johnson in the first quarter valued at $48,000. von Borstel & Associates Inc. bought a new stake in Johnson & Johnson in the first quarter valued at $49,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Johnson & Johnson during the first quarter valued at about $52,000. 69.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Saturday. Piper Sandler restated an “overweight” rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Morgan Stanley lifted their price objective on shares of Johnson & Johnson from $171.00 to $176.00 and gave the company an “equal weight” rating in a research note on Thursday, July 17th. UBS Group lifted their price objective on shares of Johnson & Johnson from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, July 17th. Finally, Guggenheim restated a “neutral” rating and set a $167.00 price objective (up from $164.00) on shares of Johnson & Johnson in a research note on Thursday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $176.29.

Insider Transactions at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson stock in a transaction dated Thursday, September 4th. The stock was 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 of the company’s stock, valued at approximately $31,652,491.53. This trade represents a 24.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by insiders.

Johnson & Johnson Price Performance

NYSE:JNJ opened at $178.10 on Friday. The business’s 50-day moving average price is $170.81 and its 200 day moving average price is $161.30. The firm has a market cap of $428.93 billion, a P/E ratio of 19.05, a PEG ratio of 2.27 and a beta of 0.40. 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.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.09. The firm had revenue of $23.74 billion for the quarter, compared to analyst estimates 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 was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.82 earnings per share. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. As a group, sell-side analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th were issued 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 was Tuesday, August 26th. Johnson & Johnson’s payout ratio is presently 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.