Parkside Financial Bank & Trust Cuts Position in Johnson & Johnson (NYSE:JNJ)

VaselineSeptember 8, 2024

0 4 minutes read

Parkside Financial Bank & Trust lessened its stake in Johnson & Johnson (NYSE:JNJ – Free Report ) by 9.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,108 shares of the company’s stock after selling 1,800 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Johnson & Johnson were worth $2,500,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank bought a new position in Johnson & Johnson during the fourth quarter valued at approximately $4,071,642,000. Wellington Management Group LLP raised its stake in shares of 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 during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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% during the second quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock worth $980,579,000 after purchasing an additional 2,489,925 shares in the last quarter. Finally, Swedbank AB acquired a new position in Johnson & Johnson in the first quarter valued at $331,178,000. Hedge funds and other institutional investors own 69.55% of the company’s shares.

Johnson & Johnson trading down 0.4%

NYSE JNJ opened at $164.38 on Friday. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85. The company has a 50-day moving average price of $157.57 and a 200-day moving average price of $153.81. The company has a quick ratio of 0.85, a current ratio of 1.07, and a debt-to-equity ratio of 0.44. The firm has a market cap of $395.61 billion, a PE ratio of 10.25, a price-to-earnings-growth ratio of 2.73 and a beta of 0.53.

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Johnson & Johnson (NYSE:JNJ – Get Free Report ) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. The company 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 quarterly revenue was up 4.3% year over year. In the same period last year, the firm posted earnings of $2.80 per share. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10.02 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th will be paid a dividend of $1.24 per share. The ex-dividend date is Tuesday, August 27. This represents a dividend of $4.96 on an annualized basis and a dividend yield of 3.02%. Johnson & Johnson’s payout ratio is 30.92%.

Indoor activity

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction that occurred 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 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 legal filing with the SEC, which can be accessed through the SEC’s website. Corporate insiders own 0.16% of the company’s shares.

Analyst upgrades and downgrades

JNJ has been the subject of several recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Tuesday, September 3rd. Daiwa America cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. TD Securities cut their price target on Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Goldman Sachs Group cut their price target on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Finally, StockNews.com lowered shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Friday. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Moderate Buy” and a consensus price target of $173.21, according to MarketBeat .

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.