Chronos Wealth Management LLC Decreases Stake in Johnson & Johnson (NYSE:JNJ)

Chronos Wealth Management LLC cut its stake in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 0.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,397 shares of the company’s stock after selling 193 shares during the quarter. Johnson & Johnson accounts for about 4.6% of Chronos Wealth Management LLC’s portfolio, making the stock its 7th largest position. Chronos Wealth Management LLC’s holdings in Johnson & Johnson were worth $6,106,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Hamlin Capital Management LLC grew its holdings in shares of Johnson & Johnson by 1.2% during the 2nd quarter. Hamlin Capital Management LLC now owns 689,178 shares of the company’s stock valued at $122,336,000 after purchasing an additional 7,969 shares during the last quarter. Optimum Investment Advisors grew its holdings in shares of Johnson & Johnson by 7.8% during the 2nd quarter. Optimum Investment Advisors now owns 6,932 shares of the company’s stock valued at $1,231,000 after purchasing an additional 500 shares during the last quarter. Resonant Capital Advisors LLC grew its holdings in shares of Johnson & Johnson by 0.8% during the 2nd quarter. Resonant Capital Advisors LLC now owns 22,666 shares of the company’s stock valued at $4,023,000 after purchasing an additional 177 shares during the last quarter. One Plus One Wealth Management LLC grew its holdings in shares of Johnson & Johnson by 1.1% during the 2nd quarter. One Plus One Wealth Management LLC now owns 8,993 shares of the company’s stock valued at $1,596,000 after purchasing an additional 100 shares during the last quarter. Finally, Meadow Creek Wealth Advisors LLC grew its holdings in shares of Johnson & Johnson by 8.9% during the 2nd quarter. Meadow Creek Wealth Advisors LLC now owns 6,535 shares of the company’s stock valued at $1,160,000 after purchasing an additional 536 shares during the last quarter. 68.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Daiwa Capital Markets assumed coverage on shares of Johnson & Johnson in a research report on Wednesday, June 22nd. They set an “outperform” rating on the stock. SVB Leerink cut their target price on shares of Johnson & Johnson from $200.00 to $194.00 in a research report on Wednesday, July 20th. Wells Fargo & Company lifted their target price on shares of Johnson & Johnson from $190.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 13th. UBS Group cut their target price on shares of Johnson & Johnson from $185.00 to $180.00 in a research report on Thursday, July 21st. Finally, Citigroup cut their target price on shares of Johnson & Johnson from $205.00 to $201.00 in a research report on Wednesday, July 20th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $189.78.

Johnson & Johnson Stock Up 1.8 %

Shares of NYSE JNJ opened at $166.18 on Friday. The company has a market capitalization of $436.92 billion, a P/E ratio of 24.19, a price-to-earnings-growth ratio of 2.95 and a beta of 0.61. Johnson & Johnson has a 52-week low of $155.72 and a 52-week high of $186.69. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.17 and a current ratio of 1.42. The company’s 50 day moving average price is $168.06 and its 200-day moving average price is $174.12.

Johnson & Johnson (NYSE:JNJGet Rating) last issued its quarterly earnings results on Tuesday, July 19th. The company reported $2.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.02. The firm had revenue of $24.02 billion for the quarter, compared to the consensus estimate of $23.85 billion. Johnson & Johnson had a net margin of 19.21% and a return on equity of 36.14%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.48 EPS. Equities analysts forecast that Johnson & Johnson will post 10.7 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Tuesday, August 23rd were paid a $1.13 dividend. The ex-dividend date of this dividend was Monday, August 22nd. This represents a $4.52 annualized dividend and a dividend yield of 2.72%. Johnson & Johnson’s dividend payout ratio is currently 65.79%.

Johnson & Johnson announced that its board has authorized a stock repurchase plan on Wednesday, September 14th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to buy up to 1.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Johnson & Johnson Company Profile

(Get Rating)

Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment offers baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.

See Also

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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