Conning Inc. Sells 13,645 Shares of Johnson & Johnson (NYSE:JNJ)

Conning Inc. lowered its position in shares of Johnson & Johnson (NYSE:JNJ) by 6.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 214,087 shares of the company’s stock after selling 13,645 shares during the quarter. Conning Inc.’s holdings in Johnson & Johnson were worth $34,695,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Innealta Capital LLC bought a new position in Johnson & Johnson in the second quarter valued at approximately $27,000. Highline Wealth Partners LLC bought a new stake in Johnson & Johnson during the third quarter worth $31,000. Mowery & Schoenfeld Wealth Management LLC grew its position in shares of Johnson & Johnson by 58.7% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after acquiring an additional 91 shares during the period. Morton Brown Family Wealth LLC increased its stake in shares of Johnson & Johnson by 400.0% during the 3rd quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock worth $41,000 after purchasing an additional 200 shares during the last quarter. Finally, MFA Wealth Advisors LLC acquired a new stake in Johnson & Johnson in the 2nd quarter valued at about $43,000. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Trading Up 0.2 %

Shares of JNJ opened at $160.13 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85. The firm has a market cap of $385.53 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 2.84 and a beta of 0.52. The business’s fifty day moving average is $163.31 and its 200-day moving average is $155.59.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.21 by $0.21. The firm had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.66 earnings per share. Equities analysts anticipate that Johnson & Johnson will post 9.94 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s payout ratio is 71.78%.

Insider Activity at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the sale, the vice president now directly owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.16% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. The Goldman Sachs Group decreased their target price on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Wells Fargo & Company boosted their price target on Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Daiwa America cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada upped their price target on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, TD Securities dropped their price objective on shares of Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $175.93.

Johnson & Johnson Profile

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.