Chatham Capital Group Inc. Trims Stake in Johnson & Johnson (NYSE:JNJ)

Chatham Capital Group Inc. trimmed its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 3.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,203 shares of the company’s stock after selling 1,548 shares during the quarter. Johnson & Johnson comprises about 1.4% of Chatham Capital Group Inc.’s holdings, making the stock its 16th largest position. Chatham Capital Group Inc.’s holdings in Johnson & Johnson were worth $8,160,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of JNJ. WealthTrak Capital Management LLC purchased a new stake in Johnson & Johnson in the fourth quarter worth approximately $26,000. Mountain Hill Investment Partners Corp. bought a new position in shares of Johnson & Johnson during the 4th quarter valued at $29,000. Bay Harbor Wealth Management LLC purchased a new position in Johnson & Johnson in the 4th quarter worth $32,000. Conquis Financial LLC purchased a new stake in Johnson & Johnson during the fourth quarter valued at about $33,000. Finally, Bernard Wealth Management Corp. bought a new position in shares of Johnson & Johnson during the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

JNJ has been the topic of a number of analyst reports. Morgan Stanley lifted their price target on Johnson & Johnson from $164.00 to $169.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 16th. Wall Street Zen lowered Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Benchmark raised Johnson & Johnson to a “strong-buy” rating in a research note on Thursday, April 24th. Raymond James cut their target price on shares of Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Finally, Leerink Partnrs cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Eleven analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $170.88.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $153.39 on Thursday. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99. The stock has a market capitalization of $369.07 billion, a PE ratio of 23.07, a price-to-earnings-growth ratio of 2.56 and a beta of 0.42. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. The firm’s 50 day moving average price is $153.81 and its 200-day moving average price is $153.67.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.18. The business had revenue of $21.89 billion during the quarter, compared to analyst estimates of $21.65 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. Equities research analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th will be issued a $1.30 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $5.20 annualized dividend and a yield of 3.39%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.24. Johnson & Johnson’s dividend payout ratio is currently 57.84%.

About Johnson & Johnson

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.