Essex Financial Services Inc. Sells 1,232 Shares of Johnson & Johnson (NYSE:JNJ)

Essex Financial Services Inc. lowered its position in Johnson & Johnson (NYSE:JNJ) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,814 shares of the company’s stock after selling 1,232 shares during the period. Johnson & Johnson comprises about 1.1% of Essex Financial Services Inc.’s portfolio, making the stock its 17th largest position. Essex Financial Services Inc.’s holdings in Johnson & Johnson were worth $10,316,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in JNJ. Triumph Capital Management lifted its position in shares of Johnson & Johnson by 12.6% during the 4th quarter. Triumph Capital Management now owns 6,419 shares of the company’s stock worth $1,006,000 after buying an additional 718 shares in the last quarter. Andina Capital Management LLC bought a new stake in Johnson & Johnson during the fourth quarter worth $209,000. ICW Investment Advisors LLC boosted its holdings in shares of Johnson & Johnson by 1.6% in the 4th quarter. ICW Investment Advisors LLC now owns 14,671 shares of the company’s stock worth $2,299,000 after buying an additional 226 shares during the last quarter. Berry Wealth Group LP bought a new stake in Johnson & Johnson in the fourth quarter worth about $2,624,000. Finally, Global Wealth Management Investment Advisory Inc. raised its holdings in shares of Johnson & Johnson by 4.6% in the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 26,792 shares of the company’s stock worth $4,199,000 after purchasing an additional 1,179 shares during the period. 69.55% of the stock is owned by institutional investors.

Insider Transactions at Johnson & Johnson

In other Johnson & Johnson news, major shareholder & Johnson Johnson sold 3,725 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $25.81, for a total transaction of $96,142.25. Following the completion of the sale, the insider now owns 4,099,575 shares of the company’s stock, valued at approximately $105,810,030.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $25.81, for a total transaction of $96,142.25. Following the completion of the transaction, the insider now directly owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jennifer L. Taubert sold 59,397 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $156.27, for a total value of $9,281,969.19. Following the transaction, the executive vice president now owns 141,416 shares in the company, valued at approximately $22,099,078.32. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ opened at $149.27 on Monday. The stock has a market cap of $359.25 billion, a price-to-earnings ratio of 9.31, a P/E/G ratio of 2.46 and a beta of 0.55. The stock’s 50-day moving average is $154.19 and its 200 day moving average is $155.03. The company has a current ratio of 1.17, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $175.97.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The company had revenue of $21.38 billion for the quarter, compared to analyst estimates of $21.39 billion. During the same quarter last year, the firm earned $2.68 EPS. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Johnson & Johnson will post 10.65 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Monday, May 20th. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio is 29.68%.

Analyst Upgrades and Downgrades

JNJ has been the topic of several research reports. Morgan Stanley lowered their target price on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 6th. Bank of America reduced their price target on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Monday, April 15th. Finally, Royal Bank of Canada decreased their target price on shares of Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $175.86.

Johnson & Johnson Company Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.