Connecticut Wealth Management LLC Decreases Stock Position in Johnson & Johnson (NYSE:JNJ)

Connecticut Wealth Management LLC cut its holdings in Johnson & Johnson (NYSE:JNJFree Report) by 2.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,366 shares of the company’s stock after selling 521 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Johnson & Johnson were worth $3,854,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Johnson & Johnson in the fourth quarter valued at about $4,071,642,000. Wellington Management Group LLP grew its holdings in Johnson & Johnson by 16.4% during the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock worth $3,764,852,000 after acquiring an additional 3,391,657 shares during the period. International Assets Investment Management LLC grew its holdings in Johnson & Johnson by 7,875.8% during the fourth quarter. International Assets Investment Management LLC now owns 2,090,384 shares of the company’s stock worth $327,647,000 after acquiring an additional 2,064,175 shares during the period. Janney Montgomery Scott LLC acquired a new stake in Johnson & Johnson during the fourth quarter worth about $193,050,000. Finally, Focused Investors Fund L P acquired a new stake in Johnson & Johnson during the first quarter worth about $193,996,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Price Performance

JNJ stock opened at $146.48 on Monday. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $175.97. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36. The business has a fifty day moving average of $147.94 and a two-hundred day moving average of $153.72. The stock has a market cap of $352.53 billion, a price-to-earnings ratio of 9.13, a price-to-earnings-growth ratio of 2.44 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJGet Free Report) last issued its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The business had revenue of $21.38 billion during the quarter, compared to analysts’ expectations of $21.39 billion. During the same period in the previous year, the firm posted $2.68 earnings per share. The company’s revenue was up 2.3% on a year-over-year basis. As a group, research analysts anticipate that Johnson & Johnson will post 10.62 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were issued a dividend of $1.24 per share. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend was Monday, May 20th. This represents a $4.96 annualized dividend and a yield of 3.39%. Johnson & Johnson’s dividend payout ratio is 30.92%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. The Goldman Sachs Group assumed coverage on Johnson & Johnson in a research report on Thursday, May 30th. They set a “neutral” rating and a $160.00 price target on the stock. Bank of America lowered their price target on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research report on Monday, July 1st. upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 30th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a research report on Monday, June 17th. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average target price of $174.07.

View Our Latest Research Report on Johnson & Johnson

Johnson & Johnson Company Profile

(Free Report)

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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