Chapin Davis Inc. Sells 1,127 Shares of Johnson & Johnson (NYSE:JNJ)

Chapin Davis Inc. reduced its position in Johnson & Johnson (NYSE:JNJ) by 5.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,349 shares of the company’s stock after selling 1,127 shares during the quarter. Johnson & Johnson accounts for approximately 1.2% of Chapin Davis Inc.’s investment portfolio, making the stock its 17th largest holding. Chapin Davis Inc.’s holdings in Johnson & Johnson were worth $3,377,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Johnson & Johnson during the fourth quarter worth about $4,071,642,000. Wellington Management Group LLP raised its stake in shares of Johnson & Johnson by 16.4% during the 4th quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock worth $3,764,852,000 after buying an additional 3,391,657 shares during the period. International Assets Investment Management LLC raised its stake in shares of Johnson & Johnson by 7,875.8% during the 4th quarter. International Assets Investment Management LLC now owns 2,090,384 shares of the company’s stock worth $327,647,000 after buying an additional 2,064,175 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $193,050,000. Finally, Global Assets Advisory LLC purchased a new stake in shares of Johnson & Johnson during the first quarter worth approximately $170,372,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on JNJ. Bank of America dropped 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. Morgan Stanley dropped their target price on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and upped their target price for the company from $169.00 to $170.00 in a report on Thursday, April 18th. The Goldman Sachs Group began coverage on Johnson & Johnson in a report on Thursday, May 30th. They issued a “neutral” rating and a $160.00 target price for the company. Finally, StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Sunday. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $174.07.

Johnson & Johnson Price Performance

JNJ stock opened at $146.03 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94. The firm has a market capitalization of $351.45 billion, a P/E ratio of 9.11, a P/E/G ratio of 2.43 and a beta of 0.52. The business’s 50-day moving average is $148.09 and its two-hundred day moving average is $153.97. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $175.97.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. 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 company earned $2.68 EPS. Johnson & Johnson’s revenue for the quarter was up 2.3% compared to the same quarter last year. Analysts anticipate that Johnson & Johnson will post 10.62 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were issued a $1.24 dividend. The ex-dividend date was Monday, May 20th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.40%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

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.