Gabelli Funds LLC Increases Stake in Johnson & Johnson $JNJ

Gabelli Funds LLC boosted its stake in Johnson & Johnson (NYSE:JNJ) by 0.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 195,885 shares of the company’s stock after purchasing an additional 400 shares during the period. Gabelli Funds LLC’s holdings in Johnson & Johnson were worth $32,486,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in JNJ. Elios Financial Group Inc. raised its holdings in Johnson & Johnson by 1.5% in the 1st quarter. Elios Financial Group Inc. now owns 4,496 shares of the company’s stock worth $746,000 after purchasing an additional 66 shares during the period. Atlantic Family Wealth LLC raised its holdings in Johnson & Johnson by 4.4% in the 1st quarter. Atlantic Family Wealth LLC now owns 1,603 shares of the company’s stock worth $266,000 after purchasing an additional 67 shares during the period. MBA Advisors LLC raised its holdings in Johnson & Johnson by 1.2% in the 1st quarter. MBA Advisors LLC now owns 5,553 shares of the company’s stock worth $921,000 after purchasing an additional 68 shares during the period. Sovereign Financial Group Inc. raised its holdings in Johnson & Johnson by 1.8% in the 1st quarter. Sovereign Financial Group Inc. now owns 3,928 shares of the company’s stock worth $651,000 after purchasing an additional 69 shares during the period. Finally, Nabity Jensen Investment Management Inc raised its holdings in Johnson & Johnson by 1.5% in the 1st quarter. Nabity Jensen Investment Management Inc now owns 4,624 shares of the company’s stock worth $767,000 after purchasing an additional 69 shares during the period. 69.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

JNJ has been the subject of a number of analyst reports. Citigroup upped their price target on Johnson & Johnson from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, August 21st. Wall Street Zen lowered Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 18th. Erste Group Bank upgraded Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Bank of America boosted their price objective on Johnson & Johnson from $161.00 to $175.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Finally, Leerink Partners lowered Johnson & Johnson from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $169.00 to $153.00 in a research note on Tuesday, May 13th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus price target of $176.29.

Johnson & Johnson Trading Down 0.4%

JNJ opened at $178.53 on Tuesday. Johnson & Johnson has a one year low of $140.68 and a one year high of $181.16. The stock has a market capitalization of $429.96 billion, a PE ratio of 19.09, a P/E/G ratio of 2.28 and a beta of 0.41. The business’s 50 day moving average price is $163.95 and its 200 day moving average price is $159.48. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01.

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

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson’s dividend payout ratio is 55.61%.

About Johnson & Johnson

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.