Financial Connections Group Inc. Cuts Stock Position in Johnson & Johnson $JNJ

Financial Connections Group Inc. lowered its holdings in Johnson & Johnson (NYSE:JNJ) by 22.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,092 shares of the company’s stock after selling 317 shares during the period. Financial Connections Group Inc.’s holdings in Johnson & Johnson were worth $166,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Conning Inc. raised its stake in shares of Johnson & Johnson by 3.8% in the second quarter. Conning Inc. now owns 209,083 shares of the company’s stock valued at $31,937,000 after buying an additional 7,627 shares during the period. Louisbourg Investments Inc. raised its stake in shares of Johnson & Johnson by 4.5% in the second quarter. Louisbourg Investments Inc. now owns 42,112 shares of the company’s stock valued at $6,433,000 after buying an additional 1,795 shares during the period. Trust Co. of Toledo NA OH raised its stake in shares of Johnson & Johnson by 0.6% in the second quarter. Trust Co. of Toledo NA OH now owns 45,568 shares of the company’s stock valued at $6,961,000 after buying an additional 288 shares during the period. KFA Private Wealth Group LLC raised its stake in shares of Johnson & Johnson by 4.9% in the second quarter. KFA Private Wealth Group LLC now owns 5,072 shares of the company’s stock valued at $775,000 after buying an additional 239 shares during the period. Finally, Drucker Wealth 3.0 LLC raised its stake in shares of Johnson & Johnson by 121.0% in the second quarter. Drucker Wealth 3.0 LLC now owns 13,419 shares of the company’s stock valued at $2,097,000 after buying an additional 7,348 shares during the period. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $190.88 on Tuesday. The firm has a market capitalization of $459.71 billion, a P/E ratio of 20.42, a P/E/G ratio of 2.40 and a beta of 0.40. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. The stock’s 50-day simple moving average is $178.88 and its two-hundred day simple moving average is $163.97. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $192.10.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. The business had revenue of $24.02 billion for the quarter. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. As a group, equities analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Tuesday, August 26th. Johnson & Johnson’s dividend payout ratio is currently 55.61%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Guggenheim upgraded Johnson & Johnson from a “neutral” rating to a “buy” rating and boosted their target price for the company from $167.00 to $206.00 in a research note on Tuesday, September 23rd. Wells Fargo & Company set a $212.00 target price on Johnson & Johnson and gave the company an “overweight” rating in a research note on Friday, October 3rd. The Goldman Sachs Group boosted their target price on Johnson & Johnson from $186.00 to $212.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Wall Street Zen upgraded Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. Finally, Citigroup boosted their price objective on Johnson & Johnson from $200.00 to $213.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $192.94.

Insiders Place Their Bets

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president directly owned 178,013 shares in the company, valued at $31,652,491.53. This represents a 24.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is owned by corporate insiders.

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.