Connable Office Inc. Makes New $456,000 Investment in Johnson & Johnson $JNJ

Connable Office Inc. acquired a new position in shares of Johnson & Johnson (NYSE:JNJ) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 2,983 shares of the company’s stock, valued at approximately $456,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. GFG Capital LLC acquired a new stake in shares of Johnson & Johnson in the 2nd quarter worth $35,000. Stone House Investment Management LLC acquired a new stake in shares of Johnson & Johnson in the 1st quarter worth $47,000. 1248 Management LLC acquired a new stake in shares of Johnson & Johnson in the 1st quarter worth $48,000. von Borstel & Associates Inc. acquired a new stake in shares of Johnson & Johnson in the 1st quarter worth $49,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Johnson & Johnson in the 1st quarter worth $52,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $186.24 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.50. The stock has a market cap of $448.71 billion, a P/E ratio of 17.98, a PEG ratio of 2.19 and a beta of 0.40. The company has a 50-day moving average of $183.43 and a two-hundred day moving average of $167.96. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $194.48.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share (EPS) for the quarter. The company had revenue of $24.02 billion during the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 32.73%. As a group, research analysts predict that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th will be given a dividend of $1.30 per share. The ex-dividend date is Tuesday, November 25th. This represents a $5.20 dividend on an annualized basis and a yield of 2.8%. Johnson & Johnson’s payout ratio is presently 50.19%.

Analysts Set New Price Targets

Several research firms have recently commented on JNJ. Cowen restated a “buy” rating on shares of Johnson & Johnson in a research note on Tuesday, October 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. UBS Group raised their price objective on shares of Johnson & Johnson from $190.00 to $214.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. Barclays raised their price objective on shares of Johnson & Johnson from $165.00 to $176.00 and gave the company an “equal weight” rating in a research note on Thursday, July 17th. Finally, Daiwa America upgraded shares of Johnson & Johnson from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and a consensus price target of $199.05.

Insider Buying and Selling at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president owned 178,013 shares of the company’s stock, 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 filing with the SEC, which is available at the SEC website. 0.16% of the stock is currently owned by corporate insiders.

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.