Hartford Financial Management Inc. Sells 20,113 Shares of Johnson & Johnson $JNJ

Key Points

• Hartford Financial Management Inc. reduced its holdings in Johnson & Johnson by 61.8%, selling 20,113 shares and now owning 12,454 shares valued at $1.9 million.
• Johnson & Johnson recently declared a quarterly dividend of $1.30 per share, with an annualized dividend yield of 2.7%.
• Analysts have a consensus rating of "Moderate Buy" for Johnson & Johnson stock, with a price target of $199.05.

Hartford Financial Management Inc. cut its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 61.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,454 shares of the company's stock after selling 20,113 shares during the quarter. Hartford Financial Management Inc.'s holdings in Johnson & Johnson were worth $1,902,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AG2R LA Mondiale Gestion D Actifs raised its position in shares of Johnson & Johnson by 0.8% during the 2nd quarter. AG2R LA Mondiale Gestion D Actifs now owns 122,049 shares of the company's stock valued at $18,643,000 after purchasing an additional 991 shares during the period. City State Bank increased its stake in Johnson & Johnson by 0.7% in the 2nd quarter. City State Bank now owns 11,726 shares of the company's stock worth $1,791,000 after buying an additional 85 shares in the last quarter. Focus Partners Advisor Solutions LLC raised its holdings in Johnson & Johnson by 11.5% during the second quarter. Focus Partners Advisor Solutions LLC now owns 45,181 shares of the company's stock valued at $6,901,000 after acquiring an additional 4,670 shares during the period. Curio Wealth LLC lifted its position in shares of Johnson & Johnson by 71,600.0% in the second quarter. Curio Wealth LLC now owns 717 shares of the company's stock valued at $110,000 after acquiring an additional 716 shares in the last quarter. Finally, Leelyn Smith LLC grew its position in shares of Johnson & Johnson by 2.4% during the second quarter. Leelyn Smith LLC now owns 18,719 shares of the company's stock worth $2,859,000 after purchasing an additional 440 shares in the last quarter. Institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Down 1.1%

Shares of NYSE JNJ opened at $190.38 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $194.48. The firm's 50-day moving average price is $182.26 and its 200-day moving average price is $166.25. The stock has a market capitalization of $458.69 billion, a price-to-earnings ratio of 18.38, a P/E/G ratio of 2.24 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. The company had revenue of $24.02 billion for the quarter. Johnson & Johnson had a return on equity of 32.73% and a net margin of 27.26%. On average, equities research analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently declared 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. The ex-dividend date is Tuesday, November 25th. This represents a $5.20 dividend on an annualized basis and a yield of 2.7%. Johnson & Johnson's dividend payout ratio (DPR) is currently 50.19%.

Insider Buying and Selling

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the business's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the transaction, the executive vice president owned 178,013 shares in the company, valued at $31,652,491.53. The trade was a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.16% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Weiss Ratings raised Johnson & Johnson from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, October 8th. Piper Sandler restated an "overweight" rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Loop Capital set a $190.00 price target on shares of Johnson & Johnson in a report on Wednesday. Wall Street Zen raised shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. Finally, Cowen reaffirmed a "buy" rating on shares of Johnson & Johnson in a report on Tuesday, October 14th. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Johnson & Johnson presently has a consensus rating of "Moderate Buy" and a consensus price target of $199.05.

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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