Rhumbline Advisers Raises Share Holdings in Johnson & Johnson (NYSE:JNJ)

VaselineSeptember 4, 2024

0 4 minutes read

Rhumbline Advisers raised its stake in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 0.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,369,317 shares of the company’s stock after purchasing an additional 36,268 shares during the quarter. Johnson & Johnson makes up about 0.6% of Rhumbline Advisers’ holdings, making the stock its 20th biggest holding. Rhumbline Advisers owned about 0.18% of Johnson & Johnson worth $638,619,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Inçalta Capital LLC purchased a new stake in Johnson & Johnson in the second quarter valued at about $27,000. Christopher J. Hasenberg Inc acquired a new stake in Johnson & Johnson in the 1st quarter worth approximately $31,000. MFA Wealth Advisors LLC purchased a new stake in Johnson & Johnson in the second quarter valued at approximately $43,000. Vermillion & White Wealth Management Group LLC purchased a new stake in Johnson & Johnson in the 4th quarter valued at approximately $44,000. Finally, Grayhawk Investment Strategies Inc. raised its holdings in Johnson & Johnson by 528.6% during the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after purchasing an additional 259 shares during the last quarter. 69.55% of the shares are currently held by hedge funds and other institutional investors.

Insider trading at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the sale, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this link. Company insiders hold 0.16% of the company’s shares.

Johnson & Johnson trading rose 0.8%

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NYSE:JNJ opened at $167.16 on Wednesday. The company has a 50-day simple moving average of $156.42 and a 200-day simple moving average of $153.60. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07, and a quick ratio of 0.85. The firm has a market cap of $402.30 billion, a P/E ratio of 10.42, a P/E/G ratio of 2.73 and a beta of 0.52. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $167.81.

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

Johnson & Johnson announces dividend

The company also recently disclosed 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. This represents a dividend of $4.96 on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

The Wall Street analyst weighs in

JNJ has been the subject of several research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research report on Tuesday. TD Cowen cut their price target on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. TD Securities cut their price target on Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Sanford C. Bernstein lifted their price target on Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Finally, 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 report on Friday, July 19th . Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $173.21.

Get the latest research report on Johnson & Johnson

About Johnson & Johnson

(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.