Conning Inc. Reduces Stock Position in Johnson & Johnson (NYSE:JNJ)

Conning Inc. lowered its holdings in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 11.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 208,097 shares of the company’s stock after selling 27,094 shares during the quarter. Johnson & Johnson accounts for 1.2% of Conning Inc.’s portfolio, making the stock its 19th biggest holding. Conning Inc.’s holdings in Johnson & Johnson were worth $33,963,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Red Wave Investments LLC increased its stake in Johnson & Johnson by 2.0% during the 2nd quarter. Red Wave Investments LLC now owns 2,986 shares of the company’s stock valued at $530,000 after purchasing an additional 59 shares in the last quarter. Argus Investors Counsel Inc. boosted its holdings in shares of Johnson & Johnson by 0.6% in the 2nd quarter. Argus Investors Counsel Inc. now owns 10,936 shares of the company’s stock valued at $1,941,000 after acquiring an additional 61 shares during the last quarter. Alta Capital Management LLC boosted its holdings in shares of Johnson & Johnson by 0.4% in the 2nd quarter. Alta Capital Management LLC now owns 15,824 shares of the company’s stock valued at $2,808,000 after acquiring an additional 61 shares during the last quarter. Paces Ferry Wealth Advisors LLC boosted its holdings in shares of Johnson & Johnson by 0.7% in the 3rd quarter. Paces Ferry Wealth Advisors LLC now owns 8,724 shares of the company’s stock valued at $1,425,000 after acquiring an additional 62 shares during the last quarter. Finally, Mason & Associates Inc boosted its holdings in shares of Johnson & Johnson by 4.9% in the 3rd quarter. Mason & Associates Inc now owns 1,317 shares of the company’s stock valued at $215,000 after acquiring an additional 62 shares during the last quarter. 67.94% of the stock is owned by institutional investors.

Johnson & Johnson Trading Down 1.5 %

Shares of JNJ opened at $169.76 on Thursday. Johnson & Johnson has a 52-week low of $155.72 and a 52-week high of $186.69. The company has a quick ratio of 1.18, a current ratio of 1.43 and a debt-to-equity ratio of 0.37. The firm’s fifty day moving average is $176.30 and its two-hundred day moving average is $171.39. The stock has a market cap of $443.83 billion, a PE ratio of 23.64, a price-to-earnings-growth ratio of 3.28 and a beta of 0.56.

Johnson & Johnson (NYSE:JNJ – Get Rating) last announced its earnings results on Tuesday, October 18th. The company reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.06. Johnson & Johnson had a net margin of 19.95% and a return on equity of 35.37%. The company had revenue of $23.79 billion for the quarter, compared to analysts’ expectations of $23.44 billion. During the same quarter in the previous year, the company posted $2.60 EPS. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. Research analysts forecast that Johnson & Johnson will post 10.04 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 7th. Shareholders of record on Tuesday, February 21st will be paid a dividend of $1.13 per share. The ex-dividend date of this dividend is Friday, February 17th. This represents a $4.52 annualized dividend and a yield of 2.66%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 62.95%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on JNJ shares. StockNews.com started coverage on shares of Johnson & Johnson in a report on Wednesday, October 12th. They issued a “strong-buy” rating on the stock. Atlantic Securities decreased their target price on shares of Johnson & Johnson from $165.00 to $160.00 and set a “neutral” rating for the company in a research note on Wednesday, October 19th. Credit Suisse Group began coverage on shares of Johnson & Johnson in a research note on Thursday, November 17th. They issued a “neutral” rating and a $170.00 target price for the company. Bank of America decreased their target price on shares of Johnson & Johnson from $185.00 to $178.00 and set a “neutral” rating for the company in a research note on Friday, October 14th. Finally, Citigroup boosted their target price on shares of Johnson & Johnson from $198.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, December 12th. Seven investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average price target of $182.42.

Insiders Place Their Bets

In other news, insider William Hait sold 15,000 shares of Johnson & Johnson stock in a transaction on Monday, October 24th. The stock was sold at an average price of $171.55, for a total transaction of $2,573,250.00. Following the transaction, the insider now owns 80,236 shares in the company, valued at approximately $13,764,485.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider William Hait sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, October 24th. The shares were sold at an average price of $171.55, for a total transaction of $2,573,250.00. Following the completion of the sale, the insider now owns 80,236 shares in the company, valued at approximately $13,764,485.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Peter Fasolo sold 29,275 shares of the company’s stock in a transaction that occurred on Monday, October 24th. The shares were sold at an average price of $171.36, for a total value of $5,016,564.00. Following the completion of the transaction, the vice president now owns 114,676 shares in the company, valued at $19,650,879.36. The disclosure for this sale can be found here. Insiders have sold a total of 277,886 shares of company stock valued at $48,550,549 in the last 90 days. 0.35% of the stock is owned by insiders.

Johnson & Johnson Company Profile

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Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer Health, Pharmaceutical, and Medical Devices. The Consumer Health segment includes products used in the baby care, oral care, beauty, over-the-counter pharmaceutical, women’s health, and wound care markets.