Platinum Investment Management Ltd. Increases Stake in Johnson & Johnson $JNJ

Platinum Investment Management Ltd. raised its position in Johnson & Johnson (NYSE:JNJ) by 1,122.8% during the second quarter, HoldingsChannel reports. The firm owned 439,508 shares of the company’s stock after purchasing an additional 403,566 shares during the period. Johnson & Johnson comprises 4.5% of Platinum Investment Management Ltd.’s holdings, making the stock its 11th biggest position. Platinum Investment Management Ltd.’s holdings in Johnson & Johnson were worth $67,135,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EWA LLC lifted its holdings in Johnson & Johnson by 26.8% in the 2nd quarter. EWA LLC now owns 2,860 shares of the company’s stock valued at $437,000 after purchasing an additional 604 shares in the last quarter. Philip James Wealth Mangement LLC increased its holdings in shares of Johnson & Johnson by 13.5% in the second quarter. Philip James Wealth Mangement LLC now owns 87,853 shares of the company’s stock valued at $13,420,000 after purchasing an additional 10,438 shares during the last quarter. Gold Investment Management Ltd. boosted its stake in Johnson & Johnson by 1.5% during the second quarter. Gold Investment Management Ltd. now owns 18,790 shares of the company’s stock worth $2,914,000 after buying an additional 279 shares during the last quarter. Naples Global Advisors LLC grew its holdings in Johnson & Johnson by 3.5% in the 2nd quarter. Naples Global Advisors LLC now owns 48,414 shares of the company’s stock valued at $7,395,000 after buying an additional 1,655 shares in the last quarter. Finally, Pure Financial Advisors LLC increased its stake in shares of Johnson & Johnson by 40.9% in the 2nd quarter. Pure Financial Advisors LLC now owns 28,037 shares of the company’s stock worth $4,283,000 after acquiring an additional 8,140 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insider Buying and Selling at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $177.81, for a total value of $10,041,108.51. Following the completion of the sale, the executive vice president directly owned 178,013 shares of the company’s stock, valued at approximately $31,652,491.53. The trade was a 24.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Price Performance

JNJ stock opened at $188.51 on Friday. The business has a fifty day moving average of $176.18 and a two-hundred day moving average of $162.83. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. The stock has a market cap of $453.98 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 2.37 and a beta of 0.40. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $189.78.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.09. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%.The company had revenue of $23.74 billion during the quarter, compared to analysts’ expectations of $22.85 billion. During the same quarter last year, the firm earned $2.82 earnings per share. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. As a group, research analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th were paid a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.8%. Johnson & Johnson’s payout ratio is presently 55.61%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. The Goldman Sachs Group raised their target price on Johnson & Johnson from $185.00 to $186.00 and gave the stock a “buy” rating in a research note on Friday, September 19th. Royal Bank Of Canada raised their target price on Johnson & Johnson from $181.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday, July 17th. Bank of America raised their target price on Johnson & Johnson from $175.00 to $198.00 and gave the stock a “neutral” rating in a research note on Friday. JPMorgan Chase & Co. raised their target price on Johnson & Johnson from $185.00 to $200.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 16th. Finally, Morgan Stanley raised their target price on Johnson & Johnson from $171.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Johnson & Johnson presently has an average rating of “Moderate Buy” and a consensus target price of $187.47.

Johnson & Johnson Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.