Edge Wealth Management LLC Cuts Holdings in Johnson & Johnson $JNJ

Edge Wealth Management LLC reduced its position in Johnson & Johnson (NYSE:JNJ) by 0.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 78,071 shares of the company’s stock after selling 83 shares during the quarter. Johnson & Johnson comprises approximately 2.3% of Edge Wealth Management LLC’s investment portfolio, making the stock its 18th biggest holding. Edge Wealth Management LLC’s holdings in Johnson & Johnson were worth $11,914,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Highline Wealth Partners LLC grew its position in Johnson & Johnson by 51.8% during 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 last quarter. Stone House Investment Management LLC purchased a new stake in Johnson & Johnson in the 1st quarter worth approximately $47,000. 1248 Management LLC purchased a new stake in Johnson & Johnson during the first quarter worth $48,000. von Borstel & Associates Inc. purchased a new position in Johnson & Johnson during the first quarter worth approximately $49,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Johnson & Johnson during the 1st quarter valued at approximately $52,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Johnson & Johnson

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction on 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 completion of 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 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 owned by corporate insiders.

Analysts Set New Price Targets

JNJ has been the topic of several research reports. Piper Sandler restated an “overweight” rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Bank of America lifted their target price on shares of Johnson & Johnson from $161.00 to $175.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. JPMorgan Chase & Co. lifted their target price on Johnson & Johnson from $185.00 to $200.00 and gave the company a “neutral” rating in a research report on Tuesday, September 16th. Wall Street Zen upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Finally, Barclays boosted their price target on shares of Johnson & Johnson from $165.00 to $176.00 and gave the company an “equal weight” rating in a research note on Thursday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $177.87.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $175.97 on Monday. The firm’s 50 day moving average is $172.80 and its two-hundred day moving average is $161.64. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two 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 company has a market cap of $423.80 billion, a P/E ratio of 18.82, a P/E/G ratio of 2.24 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data 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. The company had revenue of $23.74 billion for the quarter, compared to the consensus estimate 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 in the previous year, the business earned $2.82 EPS. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. Analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Tuesday, August 26th. Johnson & Johnson’s dividend payout ratio is currently 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.