Parsons Capital Management Inc. RI Trims Stake in Johnson & Johnson $JNJ

Parsons Capital Management Inc. RI lowered its holdings in Johnson & Johnson (NYSE:JNJ) by 0.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 96,560 shares of the company’s stock after selling 401 shares during the quarter. Johnson & Johnson accounts for 0.9% of Parsons Capital Management Inc. RI’s holdings, making the stock its 22nd largest holding. Parsons Capital Management Inc. RI’s holdings in Johnson & Johnson were worth $14,750,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in JNJ. Pure Financial Advisors LLC grew its stake in shares of Johnson & Johnson by 40.9% in the second quarter. Pure Financial Advisors LLC now owns 28,037 shares of the company’s stock valued at $4,283,000 after buying an additional 8,140 shares in the last quarter. RKL Wealth Management LLC grew its stake in shares of Johnson & Johnson by 0.5% in the second quarter. RKL Wealth Management LLC now owns 27,808 shares of the company’s stock valued at $4,248,000 after buying an additional 128 shares in the last quarter. Consolidated Planning Corp grew its stake in shares of Johnson & Johnson by 19.7% in the second quarter. Consolidated Planning Corp now owns 6,422 shares of the company’s stock valued at $981,000 after buying an additional 1,055 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Johnson & Johnson by 1.4% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,805,207 shares of the company’s stock valued at $275,745,000 after buying an additional 25,183 shares in the last quarter. Finally, Clarity Financial LLC grew its stake in shares of Johnson & Johnson by 4.5% in the second quarter. Clarity Financial LLC now owns 2,170 shares of the company’s stock valued at $331,000 after buying an additional 94 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on JNJ. Piper Sandler reaffirmed an “overweight” rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. JPMorgan Chase & Co. lifted their price objective on Johnson & Johnson from $185.00 to $200.00 and gave the company a “neutral” rating in a research note on Tuesday, September 16th. Morgan Stanley boosted 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. Erste Group Bank raised Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Finally, Wells Fargo & Company set a $212.00 target price on Johnson & Johnson and gave the stock an “overweight” rating in a research note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $187.47.

Johnson & Johnson Trading Up 1.4%

NYSE:JNJ opened at $188.51 on Friday. The stock has a 50-day simple moving average of $176.18 and a 200-day simple moving average of $162.83. The stock has a market cap of $453.98 billion, a P/E ratio of 20.16, a P/E/G ratio of 2.37 and a beta of 0.40. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $189.78. 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.09. The business had revenue of $23.74 billion during the quarter, compared to analysts’ expectations of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%.The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.82 EPS. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. As a group, analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

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

Insider Activity

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

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.