Johnson & Johnson (NYSE:JNJ) Shares Sold by Hartford Investment Management Co.

Key Points

• Hartford Investment Management Co. reduced its stake in Johnson & Johnson by 1.2% in Q1, now holding 146,911 shares valued at approximately $24.36 million.
• Several analysts have raised their price targets for Johnson & Johnson, with UBS Group increasing theirs from $180.00 to $190.00 and maintaining a "buy" rating.
• Johnson & Johnson has announced a quarterly dividend of $1.30, translating to an annualized dividend yield of 3.2%, payable on September 9th.

Hartford Investment Management Co. lowered its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 1.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 146,911 shares of the company's stock after selling 1,774 shares during the quarter. Johnson & Johnson comprises about 0.8% of Hartford Investment Management Co.'s portfolio, making the stock its 19th biggest holding. Hartford Investment Management Co.'s holdings in Johnson & Johnson were worth $24,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the stock. Lantz Financial LLC raised its position in Johnson & Johnson by 3.3% in the first quarter. Lantz Financial LLC now owns 11,974 shares of the company's stock valued at $1,986,000 after purchasing an additional 377 shares during the period. Sulzberger Capital Advisors Inc. purchased a new stake in shares of Johnson & Johnson in the 4th quarter valued at $453,000. Joel Isaacson & Co. LLC raised its holdings in shares of Johnson & Johnson by 3.5% in the 1st quarter. Joel Isaacson & Co. LLC now owns 74,132 shares of the company's stock valued at $12,294,000 after buying an additional 2,526 shares during the period. State of Wyoming boosted its holdings in Johnson & Johnson by 205,580.0% during the 4th quarter. State of Wyoming now owns 10,284 shares of the company's stock valued at $1,487,000 after acquiring an additional 10,279 shares during the period. Finally, Range Financial Group LLC grew its position in Johnson & Johnson by 18.9% in the 1st quarter. Range Financial Group LLC now owns 15,886 shares of the company's stock valued at $2,635,000 after acquiring an additional 2,529 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on JNJ shares. UBS Group increased their price target on shares of Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Raymond James Financial reduced their target price on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Erste Group Bank upgraded shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada increased their price objective on Johnson & Johnson from $181.00 to $185.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Finally, Barclays lifted their target price on Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Nine investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $174.50.

Johnson & Johnson Price Performance

JNJ stock opened at $164.76 on Friday. The business has a 50 day moving average price of $157.18 and a 200 day moving average price of $156.44. 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 has a market cap of $396.81 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 2.13 and a beta of 0.41. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $169.99.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.09. The business had revenue of $23.74 billion during the quarter, compared to the consensus estimate of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The company's revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.82 EPS. Equities research analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson's payout ratio is presently 55.61%.

About Johnson & Johnson

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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