United Services Automobile Association Sells 33,654 Johnson & Johnson (NYSE:JNJ) Shares

VaselineSeptember 11, 2024

0 4 minutes read

United Services Automobile Association lessened its position in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 5.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 581,749 shares of the company’s stock after selling 33,654 shares during the quarter. Johnson & Johnson makes up about 2.2% of United Services Automobile Association’s investment portfolio, making the stock its 12th biggest holding. United Services Automobile Association’s holdings in Johnson & Johnson were worth $85,028,000 at the end of the most recent quarter.

Several other institutional investors have recently modified their holdings of JNJ. Liberty Wealth Management LLC boosted its holdings in shares of Johnson & Johnson by 680.8% in the second quarter. Liberty Wealth Management LLC now owns 16,396 shares of the company’s stock worth $2,396,000 after purchasing an additional 14,296 shares during the last quarter. Choreo LLC raised its stake in Johnson & Johnson by 106.1% in the 2nd quarter. Choreo LLC now owns 109,791 shares of the company’s stock worth $16,075,000 after buying an additional 56,511 shares in the last quarter . McBroom & Associates LLC boosted its holdings in shares of Johnson & Johnson by 0.8% in the second quarter. McBroom & Associates LLC now owns 28,089 shares of the company’s stock worth $4,105,000 after buying an additional 215 shares during the period. Prudential PLC boosted its stake in Johnson & Johnson by 17.9% in the second quarter. Prudential PLC now owns 300,948 shares of the company’s stock valued at $43,987,000 after purchasing an additional 45,725 shares during the last quarter. Finally, Pinnacle West Asset Management Inc. raised its holdings in Johnson & Johnson by 0.7% during the second quarter. Pinnacle West Asset Management Inc. now owns 15,120 shares of the company’s stock valued at $2,210,000 after purchasing an additional 100 shares during the period. 69.55% of shares are owned by institutional investors.

Johnson & Johnson price performance

Shares of Johnson & Johnson stock opened at $167.38 on Wednesday. The company has a 50-day simple moving average of $158.40 and a 200-day simple moving average of $153.85. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85. The stock has a market cap of $402.92 billion, a price-to-earnings ratio of 10.44, a PEG ratio of 2.71 and a beta of 0.53. The company has a quick ratio of 0.85, a current ratio of 1.07, and a debt-to-equity ratio of 0.44.

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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 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 analysts’ expectations of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. Johnson & Johnson’s revenue for the quarter was up 4.3% compared to the same quarter last year. In the same period last year, the company earned $2.80 per share. On average, research analysts anticipate that Johnson & Johnson will post 10.02 earnings per share for the current fiscal year.

Johnson & Johnson announces dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were issued a dividend of $1.24 per share. 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%.

Analyst upgrades and downgrades

Several analysts have issued reports on JNJ shares. 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. StockNews.com downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 6th. 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. TD Securities decreased their price objective on shares of Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a report on Tuesday, July 30th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Johnson & Johnson currently has an average rating of “Moderate Buy” and an average target price of $173.21, according to MarketBeat.

Check out our latest research report on Johnson & Johnson

Insider buying and selling

In other Johnson & Johnson 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 transaction of $930,113.10. Following the sale, the vice president now owns 18,973 shares in the company, valued at $3,131,683.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. 0.16% of shares are owned by company insiders.

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.