Sun Sep 15 17:15:15 UTC 2024: ## Hardin Capital Partners Buys into Johnson & Johnson, Other Institutional Investors Follow Suit

**New York, NY** – Hardin Capital Partners LLC acquired a new position in Johnson & Johnson (NYSE:JNJ) during the second quarter, according to a recent SEC filing. The firm purchased 5,326 shares, worth approximately $778,000, signaling confidence in the healthcare giant.

This move follows a trend of institutional investors adjusting their holdings in Johnson & Johnson. Citizens & Northern Corp increased its stake by 3.5%, Carolinas Wealth Consulting LLC by 0.4%, and Epic Trust Investment Advisors LLC by 3.6% during the second quarter. Verity Asset Management Inc. and Outfitter Financial LLC also grew their positions during the fourth quarter and second quarter, respectively. Overall, institutional investors now own 69.55% of the company’s stock.

In other Johnson & Johnson news, Vice President Robert J. Decker sold 5,635 shares of the company’s stock on August 30th, totaling $930,113.10. This leaves him with 18,973 shares.

Despite the insider sale, Johnson & Johnson continues to perform well. The company reported $2.82 earnings per share for the second quarter, exceeding analyst estimates. Revenue reached $22.45 billion, also beating expectations. The company also declared a quarterly dividend of $1.24 per share, representing a $4.96 annualized payout and a 3.00% dividend yield.

Analysts remain optimistic about Johnson & Johnson’s future. Royal Bank of Canada reaffirmed an “outperform” rating, while StockNews.com upgraded the stock from “buy” to “strong-buy.” Morgan Stanley raised its price target, and TD Cowen maintained a “buy” rating, although lowering its target price. Daiwa America, however, downgraded the stock to “hold.”

Overall, analysts have a “Moderate Buy” rating on Johnson & Johnson, with an average target price of $173.21. The company’s strong financial performance, consistent dividend payouts, and positive analyst outlook suggest that Johnson & Johnson remains a solid investment for investors seeking exposure to the healthcare sector.

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