Connecticut Wealth Management LLC Has $2.39 Million Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Connecticut Wealth Management LLC cut its stake in shares of Johnson & Johnson (NYSE:JNJ) by 21.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,520 shares of the company’s stock after selling 4,624 shares during the period. Connecticut Wealth Management LLC’s holdings in Johnson & Johnson were worth $2,389,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Tallon Kerry Patrick acquired a new position in Johnson & Johnson during the fourth quarter valued at $290,000. Capital & Planning LLC raised its position in Johnson & Johnson by 13.6% during the fourth quarter. Capital & Planning LLC now owns 1,528 shares of the company’s stock valued at $221,000 after buying an additional 183 shares during the period. Brady Martz Wealth Solutions LLC acquired a new position in Johnson & Johnson during the fourth quarter valued at $888,000. Grove Bank & Trust raised its position in Johnson & Johnson by 3.9% during the fourth quarter. Grove Bank & Trust now owns 22,636 shares of the company’s stock valued at $3,274,000 after buying an additional 848 shares during the period. Finally, Annex Advisory Services LLC raised its position in Johnson & Johnson by 2.6% during the fourth quarter. Annex Advisory Services LLC now owns 31,703 shares of the company’s stock valued at $4,585,000 after buying an additional 811 shares during the period. 69.55% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Johnson & Johnson

In related news, VP Robert J. Decker sold 6,999 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the completion of the sale, the vice president now directly owns 21,001 shares of the company’s stock, valued at $3,483,645.88. This trade represents a 25.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on JNJ. Stifel Nicolaus dropped their target price on Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Argus upgraded Johnson & Johnson to a “strong-buy” rating in a research note on Friday, January 24th. Morgan Stanley increased their target price on Johnson & Johnson from $164.00 to $169.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 16th. Sanford C. Bernstein restated a “market perform” rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Finally, Guggenheim restated a “neutral” rating on shares of Johnson & Johnson in a research note on Wednesday, April 2nd. Eleven analysts have rated the stock with a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $170.88.

Johnson & Johnson Trading Down 0.3%

Shares of JNJ opened at $153.17 on Thursday. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. The stock has a 50 day simple moving average of $155.67 and a 200-day simple moving average of $153.79. The stock has a market cap of $368.53 billion, a PE ratio of 23.03, a PEG ratio of 2.56 and a beta of 0.42.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.18. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The business had revenue of $21.89 billion during the quarter, compared to analysts’ expectations of $21.65 billion. On average, sell-side analysts predict that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 3.39%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Tuesday, May 27th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 57.84%.

Johnson & Johnson Profile

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.