Chase Investment Counsel Corp Boosts Position in Johnson & Johnson (NYSE:JNJ)

Chase Investment Counsel Corp boosted its holdings in Johnson & Johnson (NYSE:JNJFree Report) by 3.5% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 3,739 shares of the company’s stock after buying an additional 128 shares during the period. Chase Investment Counsel Corp’s holdings in Johnson & Johnson were worth $591,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Shoker Investment Counsel Inc. raised its holdings in Johnson & Johnson by 0.7% in the first quarter. Shoker Investment Counsel Inc. now owns 18,625 shares of the company’s stock valued at $2,939,000 after buying an additional 127 shares during the period. Farrow Financial Inc. raised its stake in shares of Johnson & Johnson by 6.8% during the first quarter. Farrow Financial Inc. now owns 13,038 shares of the company’s stock valued at $2,062,000 after purchasing an additional 826 shares during the period. Hudock Inc. raised its stake in shares of Johnson & Johnson by 56.3% during the first quarter. Hudock Inc. now owns 14,017 shares of the company’s stock valued at $2,217,000 after purchasing an additional 5,048 shares during the period. Summit Financial Wealth Advisors LLC raised its stake in shares of Johnson & Johnson by 26.3% during the first quarter. Summit Financial Wealth Advisors LLC now owns 5,392 shares of the company’s stock valued at $853,000 after purchasing an additional 1,122 shares during the period. Finally, FORA Capital LLC raised its stake in shares of Johnson & Johnson by 6.5% during the first quarter. FORA Capital LLC now owns 51,683 shares of the company’s stock valued at $8,176,000 after purchasing an additional 3,170 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

JNJ stock opened at $147.05 on Wednesday. The company has a market capitalization of $353.90 billion, a P/E ratio of 9.17, a PEG ratio of 2.42 and a beta of 0.52. The company has a 50-day simple moving average of $147.96 and a 200 day simple moving average of $153.59. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $175.97. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36.

Johnson & Johnson (NYSE:JNJGet Free Report) last issued its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, topping 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 firm had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.39 billion. During the same period in the previous year, the business earned $2.68 earnings per share. Johnson & Johnson’s revenue for the quarter was up 2.3% compared to the same quarter last year. Sell-side analysts predict that Johnson & Johnson will post 10.62 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were given a $1.24 dividend. The ex-dividend date of this dividend was Monday, May 20th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a yield of 3.37%. Johnson & Johnson’s payout ratio is 30.92%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 30th. Bank of America dropped their price target on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a research note on Monday, June 17th. HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $169.00 to $170.00 in a report on Thursday, April 18th. Finally, The Goldman Sachs Group began coverage on shares of Johnson & Johnson in a report on Thursday, May 30th. They issued a “neutral” rating and a $160.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average target price of $174.07.

View Our Latest Stock Report on Johnson & Johnson

Johnson & Johnson Company Profile

(Free Report)

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.

See Also

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

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