West Branch Capital LLC Increases Stake in Johnson & Johnson

On October 21, 2024, news emerged that West Branch Capital LLC has expanded its investment in Johnson & Johnson (NYSE: JNJ) by purchasing an additional 688 shares during the third quarter. This increase brought their total holdings to 24,890 shares, representing a 2.8% rise in their position. Johnson & Johnson now constitutes about 1.4% of West Branch Capital's overall investment portfolio, making it their 18th largest investment. As of the end of the last quarter, the value of their stake in Johnson & Johnson reached approximately $4,034,000.

Other institutional investors have also been active in adjusting their positions in Johnson & Johnson recently. For instance, &PARTNERS saw a significant increase of 51.5% in their holdings during the first quarter, amassing a total of 31,942 shares valued at $5,050,000 after acquiring an additional 10,856 shares. Similarly, Douglas Lane & Associates LLC raised their stake by 4.7%, now holding 545,254 shares worth $86,254,000 after purchasing 24,686 additional shares. Additionally, International Assets Investment Management LLC increased their holdings by 17.1% during the same timeframe, bringing their total to 15,614 shares valued at $2,464,000. Other notable investors include Salem Investment Counselors Inc., which grew its stake by 2.3%, and Cooper Financial Group, which increased its position by 1.3%. Overall, institutional investors now hold around 69.55% of the company’s stock.

Analysts Express Outlook for Johnson & Johnson

Wall Street analysts have been actively discussing Johnson & Johnson in recent reports. For instance, Daiwa America downgraded the stock from a “strong-buy” rating to a “hold” rating on July 23rd. On a more positive note, StockNews.com upgraded the company from a “buy” rating to a “strong-buy” rating on September 14th. Meanwhile, Sanford C. Bernstein increased their price target for the stock from $161.00 to $171.00 on July 18th. Citigroup also raised their price target, now estimating it at $185.00 and maintaining a “buy” rating. In contrast, TD Securities lowered their target from $195.00 to $185.00. Currently, six investment analysts have given the stock a hold rating, seven have issued a buy rating, and one has designated it a strong buy. The average rating for Johnson & Johnson stands at “Moderate Buy,” with a consensus price target of $175.93.

Insider Trading Activity

In related news, Vice President Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction that took place on August 30th. The shares were sold at an average price of $165.06, totaling around $930,113. Following this sale, he retains about 18,973 shares, valued at approximately $3,131,683. This transaction has been documented in a filing with the SEC, and corporate insiders currently own about 0.16% of the company's stock.

Current Stock Performance

As of the most recent trading session on Monday, shares of Johnson & Johnson opened at $165.12. The company boasts a market capitalization of $397.39 billion, a price-to-earnings (P/E) ratio of 10.29, a price-to-earnings growth (P/E/G) ratio of 2.65, and a beta value of 0.52. Over the past year, Johnson & Johnson’s stock has ranged from a low of $143.13 to a high of $168.85. The stock's 50-day moving average stands at $162.98, while its 200-day moving average is $154.69. The company also has a current ratio of 1.07, a quick ratio of 0.85, and a debt-to-equity ratio of 0.44.

On October 15th, Johnson & Johnson released its most recent quarterly earnings report, revealing earnings per share (EPS) of $2.42 for the quarter, which surpassed analysts' expectations of $2.21 by $0.21. The company recorded a net margin of 46.34% and a return on equity of 36.60%. Total revenue for the quarter was $22.47 billion, exceeding projections of $22.17 billion. Compared to the same period last year, revenue grew by 5.2%, while the prior year's EPS was $2.66. Analysts predict that Johnson & Johnson will deliver a total EPS of 10 for the fiscal year.

Dividends Announced by Johnson & Johnson

Additionally, Johnson & Johnson has announced a quarterly dividend of $1.24, set to be paid on December 10th to shareholders of record on November 26th. The ex-dividend date is also November 26th, which translates to an annualized dividend of $4.96 and a yield of 3.00%. The company's current payout ratio is 30.92%.

Overview of Johnson & Johnson

Johnson & Johnson is a multinational corporation that, along with its subsidiaries, focuses on the research, development, manufacturing, and selling of various healthcare products around the globe. The company’s Innovative Medicine segment provides offerings in therapeutic areas such as immunology, infectious diseases, neuroscience, oncology, and cardiovascular health.

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