Connors Investor Services Inc. Sells 635 Shares of Johnson & Johnson (NYSE:JNJ)

Connors Investor Services Inc. lessened its position in Johnson & Johnson (NYSE:JNJ) by 9.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,242 shares of the company’s stock after selling 635 shares during the period. Connors Investor Services Inc.’s holdings in Johnson & Johnson were worth $912,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Meridian Financial Partners LLC purchased a new stake in Johnson & Johnson during the second quarter valued at approximately $1,626,000. Summit Financial Wealth Advisors LLC boosted its stake in Johnson & Johnson by 26.3% in the 1st quarter. Summit Financial Wealth Advisors LLC now owns 5,392 shares of the company’s stock worth $853,000 after purchasing an additional 1,122 shares during the period. Gilbert & Cook Inc. grew its holdings in Johnson & Johnson by 3.3% during the 4th quarter. Gilbert & Cook Inc. now owns 9,111 shares of the company’s stock valued at $1,428,000 after buying an additional 288 shares in the last quarter. Franklin Parlapiano Turner & Welch LLC raised its position in shares of Johnson & Johnson by 0.7% during the first quarter. Franklin Parlapiano Turner & Welch LLC now owns 47,186 shares of the company’s stock valued at $7,464,000 after buying an additional 325 shares during the last quarter. Finally, Capital Asset Advisory Services LLC lifted its holdings in shares of Johnson & Johnson by 8.8% in the first quarter. Capital Asset Advisory Services LLC now owns 26,539 shares of the company’s stock worth $4,044,000 after buying an additional 2,151 shares in the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on JNJ. Sanford C. Bernstein boosted their price target on shares of Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Daiwa Capital Markets downgraded Johnson & Johnson from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $160.00 to $150.00 in a research report on Tuesday, July 23rd. TD Cowen reduced their price target on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Finally, Daiwa America lowered shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.21.

Insider Buying and Selling at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the transaction, the vice president now directly owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Up 0.9 %

Shares of NYSE:JNJ opened at $167.02 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85. The business has a 50 day simple moving average of $159.98 and a two-hundred day simple moving average of $153.98. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $168.85. The firm has a market capitalization of $401.96 billion, a PE ratio of 10.41, a price-to-earnings-growth ratio of 2.71 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. The business had revenue of $22.45 billion for the quarter, compared to analyst estimates of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The business’s revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.80 earnings per share. On average, equities analysts predict that Johnson & Johnson will post 10.02 EPS for the current year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were paid a dividend of $1.24 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $4.96 annualized dividend and a dividend yield of 2.97%. Johnson & Johnson’s dividend payout ratio 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.