Venture Visionary Partners LLC Reduces Stake in Johnson & Johnson (NYSE: JNJ)

On October 22, 2024, it was reported that Venture Visionary Partners LLC has reduced its stake in Johnson & Johnson (NYSE: JNJ) by 3.3% during the third quarter. According to the latest filing with the Securities and Exchange Commission, the institutional investor now holds 99,315 shares after selling 3,367 shares. The total value of Venture Visionary Partners LLC's holdings in Johnson & Johnson stands at approximately $16,095,000 as of the end of the recent reporting period.

A number of other institutional investors have also adjusted their positions in Johnson & Johnson. For instance, Innealta Capital LLC made a new investment during the second quarter, worth $27,000. Similarly, MFA Wealth Advisors LLC and Fairfield Financial Advisors LTD entered the stock with positions valued at around $43,000 and $46,000, respectively. Fairway Wealth LLC expanded its holdings by 217.1% during the second quarter, acquiring an additional 228 shares that brought their total to 333, valued at about $49,000. Additionally, Quarry LP also acquired a stake estimated at $49,000. Overall, institutions and hedge funds own approximately 69.55% of the stock.

Performance of Johnson & Johnson Stock

As of the latest trading session, Johnson & Johnson's stock opened at $162.85, reflecting a decline of 1.4%. The stock has experienced a 52-week range, with a low of $143.13 and a high of $168.85. The market capitalization of the company is approximately $391.92 billion, with a price-to-earnings (PE) ratio of 10.15, a price-to-earnings-growth (PEG) ratio of 2.65, and a beta of 0.52. The company's financial metrics include a debt-to-equity ratio of 0.44, a quick ratio of 0.85, and a current ratio of 1.07. Additionally, the firm has a 50-day moving average price of $163.04 and a 200-day moving average price of $154.77.

Latest Earnings Report

Johnson & Johnson recently released its quarterly earnings data on October 15. The company reported earnings per share (EPS) of $2.42, surpassing analysts’ expectations of $2.21 by $0.21. The net profit margin stood at an impressive 46.34%, with a return on equity recorded at 36.60%. The company’s revenue for the quarter reached $22.47 billion, exceeding analyst projections of $22.17 billion. Compared to the same quarter of the previous year, this represents a year-over-year revenue increase of 5.2%.

Dividend Announcement

Recently, Johnson & Johnson announced a quarterly dividend, which is scheduled to be paid on December 10. Shareholders on record as of November 26 will receive a dividend of $1.24 per share, leading to an annualized dividend of $4.96 and a dividend yield of 3.05%. The ex-dividend date is also set for November 26, with the company currently maintaining a dividend payout ratio (DPR) of 30.92%.

Insider Activity

In related news, Vice President Robert J. Decker sold 5,635 shares of Johnson & Johnson on August 30 at an average price of $165.06, resulting in a total transaction value of approximately $930,113.10. Following this transaction, he retains ownership of 18,973 shares, valued at $3,131,683.38, which reflects no change in his overall position. This transaction has been disclosed in a filing with the SEC.

Analyst Insights

Analysts have been expressing their views on Johnson & Johnson. Notably, Sanford C. Bernstein raised their target price from $161.00 to $171.00 in a report on July 18. Conversely, TD Securities lowered their target price from $195.00 to $185.00. Daiwa America downgraded their rating from “strong-buy” to “hold” as of July 23. On the other hand, Cantor Fitzgerald reaffirmed an “overweight” rating with a price target of $215.00 in their report on October 16. Finally, Goldman Sachs adjusted their target from $160.00 to $155.00, maintaining a “neutral” rating. Currently, the stock carries six hold ratings, seven buy ratings, and one strong buy rating, translating to an average rating of “Moderate Buy” with a price target of $175.93.

Johnson & Johnson Overview

Johnson & Johnson, along with its subsidiaries, is engaged in researching, developing, manufacturing, and selling a wide range of healthcare products globally. The company’s Innovative Medicine division provides products for various therapeutic areas, including immunology, infectious diseases, neuroscience, oncology, and cardiovascular health. Their products are distributed through retailers, wholesalers, hospitals, and healthcare professionals for prescription use.

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