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

Connecticut Wealth Management LLC boosted its holdings in Johnson & Johnson (NYSE:JNJ) by 35.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,887 shares of the company’s stock after buying an additional 6,567 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Johnson & Johnson were worth $3,901,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Tower View Wealth Management LLC raised its position in Johnson & Johnson by 183.3% in the third quarter. Tower View Wealth Management LLC now owns 255 shares of the company’s stock worth $40,000 after acquiring an additional 165 shares during the period. Keener Financial Planning LLC purchased a new stake in shares of Johnson & Johnson in the 4th quarter worth $40,000. WFA Asset Management Corp raised its holdings in Johnson & Johnson by 61.4% in the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after purchasing an additional 97 shares during the period. Creative Capital Management Investments LLC lifted its position in Johnson & Johnson by 43.0% during the third quarter. Creative Capital Management Investments LLC now owns 286 shares of the company’s stock valued at $45,000 after purchasing an additional 86 shares in the last quarter. Finally, Disciplined Equity Management Inc. purchased a new stake in Johnson & Johnson in the fourth quarter worth about $45,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insider Buying and Selling at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 59,397 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the completion of the sale, the executive vice president now directly owns 141,416 shares of the company’s stock, valued at $22,099,078.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Jennifer L. Taubert sold 59,397 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $156.27, for a total value of $9,281,969.19. Following the completion of the sale, the executive vice president now owns 141,416 shares in the company, valued at $22,099,078.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder & Johnson Johnson sold 3,725 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $25.81, for a total value of $96,142.25. Following the transaction, the insider now owns 4,099,575 shares in the company, valued at $105,810,030.75. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on JNJ shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday. Bank of America decreased their price objective on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Royal Bank of Canada dropped their target price on shares of Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 6th. Finally, HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and increased their target price for the stock from $169.00 to $170.00 in a research report on Thursday, April 18th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $175.86.

Johnson & Johnson Stock Performance

Johnson & Johnson stock opened at $148.95 on Thursday. The company has a market cap of $358.47 billion, a PE ratio of 9.29, a price-to-earnings-growth ratio of 2.46 and a beta of 0.55. Johnson & Johnson has a twelve month low of $143.13 and a twelve month 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 company’s 50-day moving average price is $153.70 and its 200-day moving average price is $154.97.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The company had revenue of $21.38 billion for the quarter, compared to analyst estimates of $21.39 billion. During the same quarter in the prior year, the firm posted $2.68 EPS. Johnson & Johnson’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts forecast that Johnson & Johnson will post 10.65 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 4th. Investors of record on Tuesday, May 21st will be paid a dividend of $1.24 per share. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date is Monday, May 20th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 30.92%.

About Johnson & Johnson

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.