Chevy Chase Trust Holdings LLC Sells 6,756 Shares of Johnson & Johnson (NYSE:JNJ)

Chevy Chase Trust Holdings LLC reduced its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 0.5% in the first quarter, HoldingsChannel reports. The fund owned 1,392,345 shares of the company’s stock after selling 6,756 shares during the period. Johnson & Johnson accounts for 0.7% of Chevy Chase Trust Holdings LLC’s portfolio, making the stock its 19th biggest holding. Chevy Chase Trust Holdings LLC’s holdings in Johnson & Johnson were worth $230,907,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. MRP Capital Investments LLC increased its position in Johnson & Johnson by 4.1% in the fourth quarter. MRP Capital Investments LLC now owns 1,640 shares of the company’s stock worth $237,000 after buying an additional 65 shares in the last quarter. Syverson Strege & Co grew its stake in shares of Johnson & Johnson by 4.9% during the 4th quarter. Syverson Strege & Co now owns 1,394 shares of the company’s stock valued at $202,000 after acquiring an additional 65 shares during the period. Denali Advisors LLC increased its holdings in Johnson & Johnson by 1.3% in the 4th quarter. Denali Advisors LLC now owns 5,128 shares of the company’s stock worth $742,000 after acquiring an additional 67 shares in the last quarter. Sage Mountain Advisors LLC increased its holdings in Johnson & Johnson by 0.5% in the 4th quarter. Sage Mountain Advisors LLC now owns 14,564 shares of the company’s stock worth $2,106,000 after acquiring an additional 67 shares in the last quarter. Finally, Sovereign Financial Group Inc. raised its stake in Johnson & Johnson by 1.8% during the 1st quarter. Sovereign Financial Group Inc. now owns 3,928 shares of the company’s stock worth $651,000 after acquiring an additional 69 shares during the period. Institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on JNJ shares. Leerink Partners cut shares of Johnson & Johnson from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $169.00 to $153.00 in a research note on Tuesday, May 13th. Leerink Partnrs lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. The Goldman Sachs Group raised Johnson & Johnson from a “neutral” rating to a “buy” rating and raised their price target for the company from $157.00 to $172.00 in a report on Wednesday, April 9th. Benchmark upgraded Johnson & Johnson to a “strong-buy” rating in a research report on Thursday, April 24th. Finally, Raymond James Financial decreased their target price on Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Eleven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.88.

Johnson & Johnson Trading Up 0.1%

JNJ stock opened at $152.33 on Thursday. The firm has a fifty day moving average price of $153.95 and a 200 day moving average price of $153.67. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $169.99. The firm has a market cap of $366.52 billion, a PE ratio of 16.94, a price-to-earnings-growth ratio of 2.31 and a beta of 0.42. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.26.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.18. The business had revenue of $21.89 billion during the quarter, compared to analysts’ expectations of $21.65 billion. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. Sell-side analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, May 27th. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.24. This represents a $5.20 dividend on an annualized basis and a yield of 3.41%. Johnson & Johnson’s dividend payout ratio is 57.84%.

Johnson & Johnson Company Profile

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.