Chapin Davis Inc. Sells 1,127 Shares of Johnson & Johnson (NYSE:JNJ)

Chapin Davis Inc. lowered its holdings in Johnson & Johnson (NYSE:JNJ) by 5.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,349 shares of the company’s stock after selling 1,127 shares during the period. Johnson & Johnson comprises about 1.2% of Chapin Davis Inc.’s portfolio, making the stock its 17th largest holding. Chapin Davis Inc.’s holdings in Johnson & Johnson were worth $3,377,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Kennedy Capital Management LLC increased its position in Johnson & Johnson by 18.6% during the 3rd quarter. Kennedy Capital Management LLC now owns 20,478 shares of the company’s stock worth $3,189,000 after purchasing an additional 3,206 shares in the last quarter. Shakespeare Wealth Management Inc. increased its position in Johnson & Johnson by 4.9% during the 3rd quarter. Shakespeare Wealth Management Inc. now owns 3,467 shares of the company’s stock worth $540,000 after purchasing an additional 163 shares in the last quarter. Sei Investments Co. increased its position in Johnson & Johnson by 0.6% during the 3rd quarter. Sei Investments Co. now owns 975,372 shares of the company’s stock worth $151,914,000 after purchasing an additional 6,097 shares in the last quarter. Rainsberger Wealth Advisors Inc. increased its position in Johnson & Johnson by 2.6% during the 3rd quarter. Rainsberger Wealth Advisors Inc. now owns 14,584 shares of the company’s stock worth $2,271,000 after purchasing an additional 373 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. grew its holdings in Johnson & Johnson by 125.4% during the 3rd quarter. Industrial Alliance Investment Management Inc. now owns 6,671 shares of the company’s stock worth $1,039,000 after acquiring an additional 3,711 shares during the last quarter. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Down 0.3 %

Johnson & Johnson stock opened at $146.03 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36. The firm’s fifty day moving average is $148.09 and its 200 day moving average is $153.97. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $175.97. The company has a market capitalization of $351.45 billion, a PE ratio of 9.11, a PEG ratio of 2.43 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The firm had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.39 billion. During the same quarter in the prior year, the company posted $2.68 earnings per share. The business’s revenue was up 2.3% on a year-over-year basis. As a group, sell-side analysts predict that Johnson & Johnson will post 10.62 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were issued a dividend of $1.24 per share. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend was Monday, May 20th. This represents a $4.96 annualized dividend and a yield of 3.40%. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Analysts Set New Price Targets

A number of research firms have weighed in on JNJ. Morgan Stanley reduced their target price on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and boosted their target price for the stock from $169.00 to $170.00 in a report on Thursday, April 18th. The Goldman Sachs Group started coverage on shares of Johnson & Johnson in a report on Thursday, May 30th. They set a “neutral” rating and a $160.00 target price on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Johnson & Johnson in a research note on Monday, June 17th. Finally, StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus price target of $174.07.

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.