Sun Sep 15 12:43:15 UTC 2024: ## Jupiter Asset Management Cuts Stake in Johnson & Johnson, While Other Investors Buy In
**New York, NY (MarketBeat News) -** Jupiter Asset Management Ltd. has significantly reduced its stake in Johnson & Johnson (NYSE: JNJ) by 62.4% during the second quarter, according to a recent Form 13F filing. The move comes as several other institutional investors increased their holdings in the healthcare giant.
Jupiter Asset Management now owns 1,705 shares of Johnson & Johnson, valued at $249,000. Meanwhile, Cibc World Market Inc. boosted its position by 104.1% to 1,072,740 shares, worth $156,792,000. Other notable buyers include Qsemble Capital Management LP, Perritt Capital Management Inc., Fortune Financial Advisors LLC, and American Century Companies Inc., all increasing their holdings in the company.
Despite the mixed investor sentiment, Johnson & Johnson remains a popular stock, with institutional investors and hedge funds owning 69.55% of the company’s shares.
The stock opened at $165.52 on Friday, with a market capitalization of $398.45 billion. It has a twelve-month low of $143.13 and a twelve-month high of $168.85.
Johnson & Johnson continues to pay a quarterly dividend of $1.24 per share, representing a $4.96 dividend annually and a yield of 3.00%.
Analysts have varied opinions on JNJ. StockNews.com upgraded the stock to a “strong-buy” rating, while Goldman Sachs Group lowered its target price and set a “neutral” rating. Other analysts, such as Sanford C. Bernstein and Daiwa Capital Markets, have also adjusted their ratings and target prices.
Overall, Johnson & Johnson remains a major player in the healthcare field, with its diverse portfolio of products and continued dividend payments. However, the recent moves by investors, including Jupiter Asset Management’s reduction of its stake, suggest potential volatility ahead for the company’s stock.
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