Vance Wealth Inc. decreases position in Johnson & Johnson (NYSE:JNJ)

VaselineSeptember 6, 2024

0 4 minutes read

Vance Wealth Inc. cut its stake in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 0.3% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 18,961 shares of the company’s stock after selling 65 shares during the quarter. Johnson & Johnson accounts for 1.1% of Vance Wealth Inc.’s holdings, making the stock its 21st largest holding. Holdings held by Vance Wealth Inc. in Johnson & Johnson were worth $2,771,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have recently bought and sold shares of JNJ. Norges Bank purchased a new stake in shares of Johnson & Johnson in the fourth quarter valued at $4,071,642,000. Wellington Management Group LLP boosted its holdings in Johnson & Johnson by 16.4% during the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after buying an additional 3,391,657 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Johnson & Johnson by 16.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock worth $3,453,978,000 after buying an additional 3,139,499 shares during the period. Ninety One UK Ltd boosted its stake in Johnson & Johnson by 59.0% in the second quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock worth $980,579,000 after buying an additional 2,489,925 shares in the last quarter. Finally, Swedbank AB bought a new position in shares of Johnson & Johnson in the first quarter valued at approximately $331,178,000. Hedge funds and other institutional investors own 69.55% of the company’s shares.

Johnson & Johnson trading down 1.4%

Shares of NYSE:JNJ opened at $164.99 on Friday. The company has a market cap of $397.08 billion, a PE ratio of 10.29, a P/E/G ratio of 2.73 and a beta of 0.52. The company has a current ratio of 1.07, a quick ratio of 0.85, and a debt-to-equity ratio of 0.44. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85. The company’s fifty-day simple moving average is $157.21, and its 200-day simple moving average is $153.78.

Want more great investment ideas?

Johnson & Johnson (NYSE:JNJ – Get Your Free Report ) last issued its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.11. The company had revenue of $22.45 billion for the quarter, compared to analyst estimates of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. In the same quarter last year, the company earned $2.80 per share. As a group, equities research analysts predict that Johnson & Johnson will post 10.02 earnings per share for the current fiscal year.

Johnson & Johnson announces dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th will be given a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents an annualized dividend of $4.96 and a yield of 3.01%. Johnson & Johnson’s dividend payout ratio (DPR) is 30.92%.

Insiders place their bets

In other news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the sale, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. The sale was disclosed in a filing with the SEC, which is accessible through the SEC’s website. Corporate insiders own 0.16% of the company’s shares.

Analysts on Wall Street are forecasting an increase

JNJ has been the subject of a number of analyst research reports. Goldman Sachs Group cut their price target on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Morgan Stanley upped their target price on shares of Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 16th. TD Securities reduced their price objective on shares of Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Finally, Daiwa America cut shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Moderate Buy” and a consensus price target of $173.21, according to MarketBeat.com.

Get the latest report on JNJ

Johnson & Johnson profile

(Free report)

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures and sells various health products worldwide. The company’s Innovative Medicines segment offers products for various therapeutic areas such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease and psoriasis; infectious diseases including HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders and schizophrenia; oncology, such as prostate cancer, hematological malignancies, lung cancer and bladder cancer; cardiovascular and metabolic, including thrombosis, diabetes and macular degeneration; and pulmonary hypertension including pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals and healthcare professionals for prescription use.