Conning Inc. Acquires 7,627 Shares of Johnson & Johnson $JNJ

Key Points

• Conning Inc. increased its stake in Johnson & Johnson by 3.8%, acquiring an additional 7,627 shares, bringing its total holdings to 209,083 shares valued at approximately $31.94 million.
• Several hedge funds recently initiated positions or increased their stakes in Johnson & Johnson, indicating strong institutional interest, with 69.55% of the company owned by institutional investors.
• Johnson & Johnson announced a quarterly dividend of $1.30 per share, reflecting a 2.7% yield, and the company's recent earnings report showed a net margin of 25% and a return on equity of 32.49%.

Conning Inc. boosted its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 3.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 209,083 shares of the company's stock after acquiring an additional 7,627 shares during the period. Conning Inc.'s holdings in Johnson & Johnson were worth $31,937,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GFG Capital LLC purchased a new stake in Johnson & Johnson during the second quarter valued at approximately $35,000. Highline Wealth Partners LLC raised its holdings in shares of Johnson & Johnson by 51.8% in the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock worth $42,000 after buying an additional 86 shares during the last quarter. Stone House Investment Management LLC purchased a new position in shares of Johnson & Johnson in the first quarter worth $47,000. 1248 Management LLC purchased a new position in shares of Johnson & Johnson in the first quarter worth $48,000. Finally, von Borstel & Associates Inc. purchased a new position in shares of Johnson & Johnson in the first quarter worth $49,000. Hedge funds and other institutional investors own 69.55% of the company's stock.

Insider Buying and Selling

In other news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson stock in a transaction dated 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 sale, the executive vice president owned 178,013 shares in the company, valued at $31,652,491.53. This trade represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.16% of the company's stock.

Analyst Upgrades and Downgrades

JNJ has been the subject of a number of research analyst reports. UBS Group set a $198.00 price target on shares of Johnson & Johnson in a report on Friday, October 3rd. Wall Street Zen raised shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. Sanford C. Bernstein raised their price target on shares of Johnson & Johnson from $172.00 to $193.00 and gave the stock a "market perform" rating in a report on Monday, October 6th. Guggenheim raised shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and raised their price target for the stock from $167.00 to $206.00 in a report on Tuesday, September 23rd. Finally, HSBC raised their target price on shares of Johnson & Johnson from $188.00 to $210.00 in a report on Tuesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $192.94.

Johnson & Johnson Stock Up 0.1%

JNJ stock opened at $190.88 on Tuesday. The firm has a market cap of $459.71 billion, a PE ratio of 20.42, a P/E/G ratio of 2.40 and a beta of 0.40. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01. The firm's fifty day moving average is $178.88 and its 200 day moving average is $163.97. Johnson & Johnson has a one year low of $140.68 and a one year high of $192.10.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. The company had revenue of $24.02 billion for the quarter. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. On average, research analysts forecast that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 2.7%. The ex-dividend date was Tuesday, August 26th. Johnson & Johnson's dividend payout ratio (DPR) is currently 55.61%.

Johnson & Johnson Company 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.

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