Connable Office Inc. Invests $456,000 in Johnson & Johnson $JNJ

Connable Office Inc. bought a new position in shares of Johnson & Johnson (NYSE:JNJ) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,983 shares of the company’s stock, valued at approximately $456,000.

A number of other institutional investors and hedge funds have also modified their holdings of JNJ. Brighton Jones LLC grew its stake in Johnson & Johnson by 13.9% during the 4th 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. purchased a new stake in Johnson & Johnson during the 1st quarter valued at about $218,000. Smart Money Group LLC boosted its holdings in Johnson & Johnson by 6.5% in the 1st quarter. Smart Money Group LLC now owns 6,687 shares of the company’s stock valued at $1,109,000 after purchasing an additional 407 shares during the last quarter. Argyle Capital Management LLC boosted its holdings in Johnson & Johnson by 0.8% in the 1st quarter. Argyle Capital Management LLC now owns 26,004 shares of the company’s stock valued at $4,313,000 after purchasing an additional 200 shares during the last quarter. Finally, Element Wealth LLC boosted its holdings in Johnson & Johnson by 5.8% in the 1st quarter. Element Wealth LLC now owns 1,886 shares of the company’s stock valued at $313,000 after purchasing an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insider Activity at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total value of $10,041,108.51. Following the transaction, the executive vice president directly owned 178,013 shares of the company’s stock, valued at $31,652,491.53. This trade represents a 24.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.16% of the stock is owned by company insiders.

Johnson & Johnson Price Performance

Shares of JNJ opened at $186.24 on Tuesday. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $194.48. The firm’s 50 day moving average price is $183.43 and its 200 day moving average price is $167.96. The company has a market cap of $448.71 billion, a P/E ratio of 17.98, a PEG ratio of 2.19 and a beta of 0.40. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.50.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 32.73%. The firm had revenue of $24.02 billion for the quarter. On average, research analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 25th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Tuesday, November 25th. Johnson & Johnson’s dividend payout ratio (DPR) is 50.19%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on JNJ shares. JPMorgan Chase & Co. boosted their target price on shares of Johnson & Johnson from $185.00 to $200.00 and gave the company a “neutral” rating in a report on Tuesday, September 16th. Argus set a $210.00 target price on shares of Johnson & Johnson in a report on Wednesday, October 15th. Raymond James Financial boosted their target price on shares of Johnson & Johnson from $174.00 to $209.00 and gave the company an “outperform” rating in a report on Wednesday, October 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Johnson & Johnson in a report on Friday. Finally, Guggenheim upgraded shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $167.00 to $206.00 in a report on Tuesday, September 23rd. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $199.05.

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.