Hartford Financial Management Inc. Reduces Stock Position in Johnson & Johnson $JNJ

Hartford Financial Management Inc. decreased its holdings in Johnson & Johnson (NYSE:JNJ) by 61.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,454 shares of the company’s stock after selling 20,113 shares during the period. Hartford Financial Management Inc.’s holdings in Johnson & Johnson were worth $1,902,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in JNJ. Brighton Jones LLC raised its stake in shares of Johnson & Johnson by 13.9% during the fourth quarter. Brighton Jones LLC now owns 51,876 shares of the company’s stock valued at $7,502,000 after acquiring an additional 6,332 shares in the last quarter. Wealth Group Ltd. bought a new position in shares of Johnson & Johnson during the 1st quarter worth $218,000. GAMMA Investing LLC increased its stake in shares of Johnson & Johnson by 48.0% during the first quarter. GAMMA Investing LLC now owns 43,508 shares of the company’s stock valued at $7,215,000 after buying an additional 14,118 shares during the period. New World Advisors LLC raised its holdings in shares of Johnson & Johnson by 10.9% in the first quarter. New World Advisors LLC now owns 2,194 shares of the company’s stock valued at $364,000 after acquiring an additional 216 shares in the last quarter. Finally, Omnia Family Wealth LLC lifted its stake in Johnson & Johnson by 26.3% in the first quarter. Omnia Family Wealth LLC now owns 3,698 shares of the company’s stock worth $613,000 after acquiring an additional 769 shares during the period. 69.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Bank of America raised their target price on shares of Johnson & Johnson from $198.00 to $204.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. JPMorgan Chase & Co. upped their target price on Johnson & Johnson from $185.00 to $200.00 and gave the stock a “neutral” rating in a report on Tuesday, September 16th. Raymond James Financial boosted their price target on Johnson & Johnson from $174.00 to $209.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 15th. Loop Capital set a $190.00 price objective on Johnson & Johnson in a research report on Wednesday. Finally, Wall Street Zen upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $199.05.

Insider Activity at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $177.81, for a total value of $10,041,108.51. Following the sale, the executive vice president owned 178,013 shares in the company, valued at $31,652,491.53. This represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is owned by company insiders.

Johnson & Johnson Stock Down 1.1%

NYSE:JNJ opened at $190.38 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $194.48. The company has a market cap of $458.69 billion, a PE ratio of 18.38, a P/E/G ratio of 2.24 and a beta of 0.40. The company’s 50 day moving average is $182.26 and its two-hundred day moving average is $166.25.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share (EPS) for the quarter. The business had revenue of $24.02 billion during the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 32.73%. Analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 25th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Tuesday, November 25th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 50.19%.

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.