Blue Chip Partners LLC Boosts Position in Johnson & Johnson (NYSE:JNJ)

Blue Chip Partners LLC lifted its position in Johnson & Johnson (NYSE:JNJ) by 0.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 131,279 shares of the company’s stock after purchasing an additional 541 shares during the period. Johnson & Johnson comprises approximately 2.1% of Blue Chip Partners LLC’s holdings, making the stock its 18th biggest holding. Blue Chip Partners LLC’s holdings in Johnson & Johnson were worth $20,577,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of JNJ. Tower View Wealth Management LLC grew its position in shares of Johnson & Johnson by 183.3% during the 3rd quarter. Tower View Wealth Management LLC now owns 255 shares of the company’s stock valued at $40,000 after purchasing an additional 165 shares in the last quarter. Keener Financial Planning LLC bought a new position in Johnson & Johnson in the 4th quarter worth about $40,000. WFA Asset Management Corp boosted its position in shares of Johnson & Johnson by 61.4% during the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after acquiring an additional 97 shares during the last quarter. Creative Capital Management Investments LLC grew its holdings in shares of Johnson & Johnson by 43.0% during the third quarter. Creative Capital Management Investments LLC now owns 286 shares of the company’s stock worth $45,000 after purchasing an additional 86 shares in the last quarter. Finally, Disciplined Equity Management Inc. bought a new position in shares of Johnson & Johnson in the fourth quarter worth approximately $45,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insider Buying and Selling

In other Johnson & Johnson 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 transaction, the insider now owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Johnson & Johnson news, major shareholder & Johnson Johnson sold 3,725 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $105,810,030.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jennifer L. Taubert sold 59,397 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $156.27, for a total transaction 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 $22,099,078.32. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.

Johnson & Johnson Stock Performance

Johnson & Johnson stock opened at $149.27 on Friday. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $175.97. The company has a current ratio of 1.17, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average of $154.44 and a 200-day moving average of $155.08. The firm has a market cap of $359.70 billion, a P/E ratio of 9.31, a P/E/G ratio of 2.49 and a beta of 0.55.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $0.07. The company had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.68 earnings per share. Sell-side analysts expect that Johnson & Johnson will post 10.65 EPS for the current year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Monday, May 20th. This represents a $4.96 annualized dividend and a dividend yield of 3.32%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s payout ratio is currently 30.92%.

Analyst Ratings Changes

A number of research firms have commented on JNJ. Royal Bank of Canada cut their price target on shares of Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, April 17th. Morgan Stanley reduced their target price on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research note on Monday, April 15th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 6th. Finally, HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and increased their price target for the company from $169.00 to $170.00 in a research report on Thursday, April 18th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $175.86.

About Johnson & Johnson

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.