Connors Investor Services Inc. Has $524,000 Holdings in Johnson & Johnson (NYSE:JNJ)

Connors Investor Services Inc. reduced its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 30.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,622 shares of the company's stock after selling 1,620 shares during the period. Connors Investor Services Inc.'s holdings in Johnson & Johnson were worth $524,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Oregon Pacific Wealth Management LLC acquired a new position in Johnson & Johnson during the 4th quarter valued at $949,000. Horan Securities Inc. raised its stake in shares of Johnson & Johnson by 1.3% in the 4th quarter. Horan Securities Inc. now owns 7,178 shares of the company's stock valued at $1,038,000 after buying an additional 90 shares in the last quarter. Strategic Financial Concepts LLC raised its stake in shares of Johnson & Johnson by 57.9% in the 4th quarter. Strategic Financial Concepts LLC now owns 3,467 shares of the company's stock valued at $501,000 after buying an additional 1,271 shares in the last quarter. Lord Abbett & CO. LLC acquired a new position in shares of Johnson & Johnson in the 3rd quarter valued at $69,859,000. Finally, KPP Advisory Services LLC raised its stake in shares of Johnson & Johnson by 4.7% in the 4th quarter. KPP Advisory Services LLC now owns 11,492 shares of the company's stock valued at $1,662,000 after buying an additional 515 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Down 1.2 %

NYSE JNJ traded down $1.89 on Thursday, reaching $154.42. The company had a trading volume of 7,317,524 shares, compared to its average volume of 7,889,701. The firm has a market capitalization of $371.54 billion, a price-to-earnings ratio of 23.22, a price-to-earnings-growth ratio of 2.56 and a beta of 0.49. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $169.99. The company's fifty day moving average is $159.05 and its 200-day moving average is $154.73.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, topping analysts' consensus estimates of $2.59 by $0.18. The firm had revenue of $21.89 billion during the quarter, compared to analyst estimates of $21.65 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. On average, research analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.37%. This is an increase from Johnson & Johnson's previous quarterly dividend of $1.24. The ex-dividend date is Tuesday, May 27th. Johnson & Johnson's dividend payout ratio is currently 57.84%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on JNJ shares. Benchmark upgraded shares of Johnson & Johnson to a "strong-buy" rating in a research note on Thursday, April 24th. Stifel Nicolaus dropped their target price on shares of Johnson & Johnson from $170.00 to $155.00 and set a "hold" rating for the company in a research report on Thursday, January 23rd. Wells Fargo & Company dropped their target price on shares of Johnson & Johnson from $166.00 to $152.00 and set an "equal weight" rating for the company in a research report on Thursday, January 23rd. Guggenheim reiterated a "neutral" rating on shares of Johnson & Johnson in a research report on Wednesday, April 2nd. Finally, Sanford C. Bernstein reiterated a "market perform" rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $171.82.

Insider Transactions at Johnson & Johnson

In related news, EVP Timothy Schmid sold 403 shares of Johnson & Johnson stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total transaction of $62,928.45. Following the completion of the transaction, the executive vice president now owns 15,098 shares in the company, valued at approximately $2,357,552.70. This trade represents a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Robert J. Decker sold 6,999 shares of Johnson & Johnson stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $165.88, for a total value of $1,160,994.12. Following the transaction, the vice president now owns 21,001 shares of the company's stock, valued at $3,483,645.88. The trade was a 25.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.16% of the company's stock.

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.