Cullinan Associates Inc. Cuts Holdings in Johnson & Johnson $JNJ

Cullinan Associates Inc. lowered its stake in Johnson & Johnson (NYSE:JNJ) by 2.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 188,677 shares of the company’s stock after selling 5,026 shares during the period. Johnson & Johnson accounts for approximately 1.9% of Cullinan Associates Inc.’s holdings, making the stock its 10th biggest holding. Cullinan Associates Inc.’s holdings in Johnson & Johnson were worth $28,820,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Highline Wealth Partners LLC boosted its holdings in Johnson & Johnson by 51.8% in the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company’s stock valued at $42,000 after acquiring an additional 86 shares in the last quarter. Stone House Investment Management LLC purchased a new position in Johnson & Johnson during the first quarter valued at $47,000. 1248 Management LLC purchased a new position in Johnson & Johnson during the first quarter valued at $48,000. von Borstel & Associates Inc. purchased a new position in Johnson & Johnson during the first quarter valued at $49,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in Johnson & Johnson during the first quarter valued at $52,000. Institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Wells Fargo & Company set a $212.00 price objective on Johnson & Johnson and gave the company an “overweight” rating in a research report on Friday. Sanford C. Bernstein raised their price objective on Johnson & Johnson from $172.00 to $193.00 and gave the company a “market perform” rating in a research report on Monday. Erste Group Bank raised Johnson & Johnson from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Morgan Stanley lifted their price target on Johnson & Johnson from $171.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 17th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Johnson & Johnson in a research report on Saturday, September 27th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $189.88.

Insider Buying and Selling

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

Johnson & Johnson Price Performance

NYSE JNJ opened at $188.95 on Wednesday. Johnson & Johnson has a one year low of $140.68 and a one year high of $189.92. The stock has a 50-day moving average of $177.04 and a 200 day moving average of $163.18. The company has a market capitalization of $455.06 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 2.40 and a beta of 0.40. 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, topping the consensus estimate of $2.68 by $0.09. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%.The company had revenue of $23.74 billion during the quarter, compared to the consensus estimate of $22.85 billion. During the same period last year, the company earned $2.82 EPS. Johnson & Johnson’s revenue for the quarter was up 5.8% on a year-over-year basis. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. On average, sell-side analysts forecast that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 2.8%. The ex-dividend date was Tuesday, August 26th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 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.