Charter Oak Capital Management LLC Trims Position in Johnson & Johnson (NYSE:JNJ)

Charter Oak Capital Management LLC lessened its stake in shares of Johnson & Johnson (NYSE:JNJ) by 1.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,115 shares of the company’s stock after selling 194 shares during the quarter. Charter Oak Capital Management LLC’s holdings in Johnson & Johnson were worth $1,742,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in JNJ. DORCHESTER WEALTH MANAGEMENT Co grew its holdings in shares of Johnson & Johnson by 8.6% during the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 67,618 shares of the company’s stock worth $14,975,000 after purchasing an additional 5,327 shares in the last quarter. Cantor Fitzgerald Investment Advisor L.P grew its holdings in shares of Johnson & Johnson by 88.9% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 175,194 shares of the company’s stock worth $31,049,000 after purchasing an additional 82,429 shares in the last quarter. AMI Investment Management Inc. grew its holdings in shares of Johnson & Johnson by 8.8% during the first quarter. AMI Investment Management Inc. now owns 18,305 shares of the company’s stock worth $3,244,000 after purchasing an additional 1,475 shares in the last quarter. Equitable Holdings Inc. grew its holdings in shares of Johnson & Johnson by 4.9% during the first quarter. Equitable Holdings Inc. now owns 45,673 shares of the company’s stock worth $8,095,000 after purchasing an additional 2,119 shares in the last quarter. Finally, USS Investment Management Ltd boosted its stake in Johnson & Johnson by 2.4% in the first quarter. USS Investment Management Ltd now owns 860,371 shares of the company’s stock worth $152,488,000 after buying an additional 20,528 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $147.49 on Tuesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.91 and a current ratio of 1.16. The company has a market capitalization of $355.42 billion, a P/E ratio of 10.68, a PEG ratio of 2.48 and a beta of 0.53. The stock has a 50 day moving average price of $157.07 and a two-hundred day moving average price of $155.90. Johnson & Johnson has a fifty-two week low of $144.95 and a fifty-two week high of $175.97.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, January 23rd. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.28 by $0.01. The company had revenue of $21.40 billion during the quarter, compared to the consensus estimate of $21.02 billion. Johnson & Johnson had a return on equity of 37.27% and a net margin of 37.79%. The firm’s revenue for the quarter was down 9.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.35 earnings per share. Analysts expect that Johnson & Johnson will post 10.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Monday. Morgan Stanley cut their target price on Johnson & Johnson from $170.00 to $169.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 24th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $181.00 target price on shares of Johnson & Johnson in a research note on Wednesday, February 28th. Raymond James upped their target price on Johnson & Johnson from $172.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 3rd. Finally, StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. Seven 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $177.31.

Insider Activity at Johnson & Johnson

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

Johnson & Johnson 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.