Dorsey & Whitney Trust CO LLC Reduces Stock Position in Johnson & Johnson (NYSE:JNJ)

VaselineSeptember 11, 2024

0 4 minutes read

Dorsey & Whitney Trust CO LLC lessened its position in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 1.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 108,416 shares of the company’s stock after selling 1,808 shares during the period. Johnson & Johnson accounts for approximately 1.1% of Dorsey & Whitney Trust CO LLC’s holdings, making the stock its 17th largest position. Dorsey & Whitney Trust CO LLC’s holdings in Johnson & Johnson were worth $15,846,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in Johnson & Johnson during the fourth quarter valued at about $4,071,642,000. Wellington Management Group LLP boosted its holdings in shares of Johnson & Johnson by 16.4% in the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock worth $3,764,852,000 after acquiring an additional 3,391,657 shares in 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 valued at $3,453,978,000 after purchasing an additional 3,139,499 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Johnson & Johnson by 10.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,169,190 shares of the company’s stock worth $1,593,908,000 after acquiring an additional 975,485 shares in the last quarter. Finally, Ninety One UK Ltd boosted its holdings in shares of 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 purchasing an additional 2,489,925 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s shares.

Analysts set new price targets

JNJ has been the subject of several recent research reports. Daiwa America lowered shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. TD Cowen decreased their price objective on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Daiwa Capital Markets cut shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $160.00 to $150.00 in a report on Tuesday. July 23. TD Securities cut their price target on shares of Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Finally, Sanford C. Bernstein upped their target price on shares of Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Johnson & Johnson has an average rating of “Moderate Buy” and a consensus target price of $173.21, based on data from MarketBeat.

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Johnson & Johnson stocks rose 0.5%

Shares of Johnson & Johnson stock opened at $167.38 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 0.85, and a debt-to-equity ratio of 0.44. The company’s fifty day simple moving average is $158.40 and its two hundred day simple moving average is $153.85. The company has a market cap of $402.92 billion, a P/E ratio of 10.44, a PEG ratio of 2.71 and a beta of 0.53. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85.

Johnson & Johnson (NYSE:JNJ – Get Your Free Report ) last issued its quarterly earnings data 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 net margin of 46.34% and a return on equity of 36.60%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.80 EPS. research analysts anticipate that Johnson & Johnson will post 10.02 EPS for the current year.

Johnson & Johnson announces dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were given a $1.24 dividend. This represents a dividend of $4.96 on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend was Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Insider trading at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the sale, the vice president now directly 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 Securities & Exchange Commission, which can be accessed via this link. Insiders own 0.16% of the company’s shares.

Johnson & Johnson Company 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.