Proffitt & Goodson Inc. Cuts Stake in Johnson & Johnson $JNJ

Proffitt & Goodson Inc. reduced its stake in shares of Johnson & Johnson (NYSE:JNJ) by 1.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 7,114 shares of the company’s stock after selling 127 shares during the period. Proffitt & Goodson Inc.’s holdings in Johnson & Johnson were worth $1,087,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of JNJ. Apexium Financial LP raised its holdings in Johnson & Johnson by 10.7% in the first quarter. Apexium Financial LP now owns 23,989 shares of the company’s stock valued at $3,978,000 after buying an additional 2,310 shares during the period. Avanza Fonder AB raised its holdings in Johnson & Johnson by 2.9% in the second quarter. Avanza Fonder AB now owns 234,647 shares of the company’s stock valued at $35,842,000 after buying an additional 6,566 shares during the period. Joel Isaacson & Co. LLC raised its holdings in Johnson & Johnson by 3.5% in the first quarter. Joel Isaacson & Co. LLC now owns 74,132 shares of the company’s stock valued at $12,294,000 after buying an additional 2,526 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its holdings in Johnson & Johnson by 7.0% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 73,350 shares of the company’s stock valued at $12,164,000 after buying an additional 4,816 shares during the period. Finally, Absher Wealth Management LLC raised its holdings in Johnson & Johnson by 1.2% in the first quarter. Absher Wealth Management LLC now owns 215,584 shares of the company’s stock valued at $35,752,000 after buying an additional 2,469 shares during the period. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on JNJ. Citigroup raised their price target on shares of Johnson & Johnson from $200.00 to $213.00 and gave the company a “buy” rating in a report on Tuesday. The Goldman Sachs Group lifted their price objective on shares of Johnson & Johnson from $186.00 to $212.00 and gave the company a “buy” rating in a research note on Thursday. Erste Group Bank upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. HSBC lifted their price objective on shares of Johnson & Johnson from $188.00 to $210.00 in a research note on Tuesday, September 30th. Finally, Sanford C. Bernstein lifted their price objective on shares of Johnson & Johnson from $172.00 to $193.00 and gave the company a “market perform” rating in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $191.41.

Johnson & Johnson Stock Up 0.7%

Shares of NYSE:JNJ opened at $190.97 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The company has a fifty day simple moving average of $178.01 and a 200 day simple moving average of $163.56. The firm has a market cap of $459.92 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 2.42 and a beta of 0.40. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $192.10.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly 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 business had revenue of $23.74 billion during the quarter, compared to analyst estimates of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The business’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.82 earnings per share. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. On average, equities research analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Tuesday, August 26th. Johnson & Johnson’s payout ratio is currently 55.61%.

Insider Buying and Selling

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 value of $10,041,108.51. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 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.