OLD National Bancorp IN Reduces Stock Position in Johnson & Johnson $JNJ

OLD National Bancorp IN cut its holdings in Johnson & Johnson (NYSE:JNJ) by 0.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,750 shares of the company’s stock after selling 386 shares during the quarter. OLD National Bancorp IN’s holdings in Johnson & Johnson were worth $17,681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of JNJ. Highline Wealth Partners LLC increased its stake in shares of Johnson & Johnson by 51.8% during the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company’s stock valued at $42,000 after buying an additional 86 shares during the period. Stone House Investment Management LLC bought a new stake in Johnson & Johnson in the first quarter valued at $47,000. 1248 Management LLC purchased a new position in Johnson & Johnson during the 1st quarter valued at $48,000. von Borstel & Associates Inc. bought a new position in Johnson & Johnson in the 1st quarter worth $49,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Johnson & Johnson in the 1st quarter worth about $52,000. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Down 0.2%

Shares of NYSE:JNJ opened at $188.23 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The stock has a fifty day simple moving average of $176.62 and a two-hundred day simple moving average of $163.00. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $189.92. The stock has a market capitalization of $453.32 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 2.40 and a beta of 0.40.

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

Johnson & Johnson Announces Dividend

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

Insider Activity

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the sale, the executive vice president owned 178,013 shares in the company, valued at $31,652,491.53. This represents a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group increased their price target on shares of Johnson & Johnson from $185.00 to $186.00 and gave the stock a “buy” rating in a research note on Friday, September 19th. Wells Fargo & Company set a $212.00 target price on Johnson & Johnson and gave the stock an “overweight” rating in a research report on Friday. Bank of America lifted their price target on Johnson & Johnson from $175.00 to $198.00 and gave the company a “neutral” rating in a research report on Friday. Sanford C. Bernstein increased their price objective on Johnson & Johnson from $172.00 to $193.00 and gave the stock a “market perform” rating in a report on Monday. Finally, Erste Group Bank raised Johnson & Johnson from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Two investment 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $189.12.

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.