Cohen Klingenstein LLC Decreases Stake in Johnson & Johnson $JNJ

Cohen Klingenstein LLC reduced its stake in Johnson & Johnson (NYSE:JNJ) by 2.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 128,759 shares of the company’s stock after selling 3,613 shares during the quarter. Johnson & Johnson comprises about 0.7% of Cohen Klingenstein LLC’s portfolio, making the stock its 25th largest holding. Cohen Klingenstein LLC’s holdings in Johnson & Johnson were worth $19,668,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of JNJ. Highline Wealth Partners LLC raised its position 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 valued at $42,000 after purchasing an additional 86 shares during the last quarter. Stone House Investment Management LLC purchased a new position in Johnson & Johnson during the 1st quarter worth approximately $47,000. 1248 Management LLC purchased a new position in Johnson & Johnson during the 1st quarter worth approximately $48,000. von Borstel & Associates Inc. purchased a new position in Johnson & Johnson during the 1st quarter worth approximately $49,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in Johnson & Johnson during the 1st quarter worth approximately $52,000. 69.55% of the stock is 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 Johnson & Johnson stock in a transaction 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 sale, the executive vice president owned 178,013 shares of the company’s stock, valued at $31,652,491.53. The trade was a 24.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.16% of the stock is currently owned by company insiders.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $185.98 on Friday. The company’s fifty day moving average price is $175.78 and its 200 day moving average price is $162.66. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $186.59. The stock has a market capitalization of $447.91 billion, a P/E ratio of 19.89, a P/E/G ratio of 2.37 and a beta of 0.40. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.09. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The firm had revenue of $23.74 billion for the quarter, compared to analysts’ expectations of $22.85 billion. During the same quarter last year, the company earned $2.82 EPS. The firm’s revenue for the quarter 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. As a group, equities research analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on JNJ shares. JPMorgan Chase & Co. raised 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. The Goldman Sachs Group raised their price target on shares of Johnson & Johnson from $185.00 to $186.00 and gave the stock a “buy” rating in a research report on Friday, September 19th. Wall Street Zen raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. Citigroup raised their price objective on shares of Johnson & Johnson from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 21st. Finally, Morgan Stanley raised their price objective on shares of Johnson & Johnson from $171.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and an average target price of $181.40.

Johnson & Johnson Company 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.