Hartford Investment Management Co. Lowers Stock Position in Johnson & Johnson (NYSE:JNJ)

Hartford Investment Management Co. lessened its stake in shares of Johnson & Johnson (NYSE:JNJ) by 1.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 151,324 shares of the company’s stock after selling 2,698 shares during the quarter. Johnson & Johnson accounts for about 0.8% of Hartford Investment Management Co.’s holdings, making the stock its 20th biggest holding. Hartford Investment Management Co.’s holdings in Johnson & Johnson were worth $24,524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Johnson & Johnson by 16.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock valued at $3,453,978,000 after purchasing an additional 3,139,499 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Johnson & Johnson by 10.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock valued at $2,744,979,000 after purchasing an additional 1,831,751 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Johnson & Johnson by 5.5% in the second quarter. Ameriprise Financial Inc. now owns 14,374,397 shares of the company’s stock valued at $2,100,427,000 after purchasing an additional 754,200 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Johnson & Johnson by 16.2% in the second quarter. Dimensional Fund Advisors LP now owns 13,147,352 shares of the company’s stock valued at $1,921,565,000 after purchasing an additional 1,829,257 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Johnson & Johnson by 5.8% in the second quarter. American Century Companies Inc. now owns 8,014,213 shares of the company’s stock valued at $1,171,357,000 after purchasing an additional 437,637 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Up 1.5 %

JNJ stock opened at $165.86 on Thursday. The company has a fifty day moving average price of $163.29 and a 200 day moving average price of $154.92. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85. The company has a market cap of $399.17 billion, a price-to-earnings ratio of 10.34, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The firm had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. During the same quarter in the prior year, the firm earned $2.66 EPS. Johnson & Johnson’s revenue for the quarter was up 5.2% on a year-over-year basis. Sell-side analysts expect that Johnson & Johnson will post 10 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be given a $1.24 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 annualized dividend and a yield of 2.99%. Johnson & Johnson’s dividend payout ratio (DPR) is 30.92%.

Analyst Upgrades and Downgrades

JNJ has been the topic of several analyst reports. Royal Bank of Canada raised their target price on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Citigroup raised their target price on shares of Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Wednesday, October 16th. Daiwa Capital Markets cut shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. Finally, StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average target price of $175.93.

Insider Activity at Johnson & Johnson

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

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.