Chronos Wealth Management LLC Has $6.11 Million Position in Johnson & Johnson (NYSE:JNJ)

Chronos Wealth Management LLC decreased its position in Johnson & Johnson (NYSE:JNJGet Rating) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,397 shares of the company’s stock after selling 193 shares during the quarter. Johnson & Johnson makes up approximately 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 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in JNJ. Mmbg Investment Advisors CO. bought a new stake in shares of Johnson & Johnson in the 4th quarter worth $996,000. Unigestion Holding SA grew its stake in shares of Johnson & Johnson by 7.5% in the 4th quarter. Unigestion Holding SA now owns 253,012 shares of the company’s stock worth $43,273,000 after acquiring an additional 17,653 shares in the last quarter. Jag Capital Management LLC grew its stake in shares of Johnson & Johnson by 1.4% in the 4th quarter. Jag Capital Management LLC now owns 4,515 shares of the company’s stock worth $772,000 after acquiring an additional 61 shares in the last quarter. IHT Wealth Management LLC boosted its holdings in shares of Johnson & Johnson by 2.9% in the 4th quarter. IHT Wealth Management LLC now owns 20,744 shares of the company’s stock worth $3,549,000 after buying an additional 587 shares during the last quarter. Finally, LPL Financial LLC boosted its holdings in shares of Johnson & Johnson by 3.9% in the 4th quarter. LPL Financial LLC now owns 2,091,108 shares of the company’s stock worth $357,726,000 after buying an additional 78,540 shares during the last quarter. Institutional investors own 68.59% of the company’s stock.

Wall Street Analysts Forecast Growth

JNJ has been the topic of a number of research analyst reports. Daiwa Capital Markets initiated coverage on shares of Johnson & Johnson in a report on Wednesday, June 22nd. They issued an “outperform” rating on the stock. Citigroup cut their price target on shares of Johnson & Johnson from $205.00 to $201.00 in a report on Wednesday, July 20th. UBS Group cut their price target on shares of Johnson & Johnson from $185.00 to $180.00 in a report on Thursday, July 21st. Wells Fargo & Company boosted their price target on shares of Johnson & Johnson from $190.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, July 13th. Finally, Morgan Stanley cut their price target on shares of Johnson & Johnson from $174.00 to $173.00 and set an “equal weight” rating on the stock in a report on Monday, September 12th. Four research 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 company. According to MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and a consensus price target of $189.78.

Johnson & Johnson Price Performance

NYSE JNJ opened at $166.18 on Friday. The company has a market cap of $436.92 billion, a PE 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 quick ratio of 1.17, a current ratio of 1.42 and a debt-to-equity ratio of 0.37. The firm’s 50-day simple moving average is $168.06 and its two-hundred day simple moving average is $174.12.

Johnson & Johnson (NYSE:JNJGet Rating) last announced 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. Johnson & Johnson had a net margin of 19.21% and a return on equity of 36.14%. The firm had revenue of $24.02 billion for the quarter, compared to the consensus estimate of $23.85 billion. During the same period in the prior year, the firm posted $2.48 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. Research analysts predict that Johnson & Johnson will post 10.7 earnings per share for the current year.

Johnson & Johnson announced that its Board of Directors has initiated a share repurchase program on Wednesday, September 14th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 1.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Johnson & Johnson Announces Dividend

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

Johnson & Johnson Profile

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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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