Chesapeake Wealth Management Reduces Position in Johnson & Johnson (NYSE:JNJ)

Chesapeake Wealth Management cut its stake in Johnson & Johnson (NYSE:JNJ) by 5.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,989 shares of the company’s stock after selling 471 shares during the period. Chesapeake Wealth Management’s holdings in Johnson & Johnson were worth $1,155,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp grew its position in Johnson & Johnson by 0.9% in the 3rd quarter. State Street Corp now owns 134,245,811 shares of the company’s stock valued at $21,755,874,000 after buying an additional 1,154,088 shares during the last quarter. Geode Capital Management LLC raised its position in Johnson & Johnson by 1.8% during the third quarter. Geode Capital Management LLC now owns 56,106,884 shares of the company’s stock worth $9,064,149,000 after acquiring an additional 1,004,763 shares during the last quarter. FMR LLC lifted its holdings in Johnson & Johnson by 7.4% in the 3rd quarter. FMR LLC now owns 18,316,920 shares of the company’s stock valued at $2,968,440,000 after purchasing an additional 1,265,748 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Johnson & Johnson by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock worth $2,858,543,000 after purchasing an additional 102,502 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Johnson & Johnson by 11.4% in the third quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock valued at $2,721,355,000 after buying an additional 1,729,281 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

JNJ stock opened at $146.58 on Friday. The stock’s fifty day moving average is $148.10 and its two-hundred day moving average is $156.05. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $168.85. The stock has a market capitalization of $352.91 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 2.52 and a beta of 0.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.05. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The company had revenue of $22.52 billion during the quarter, compared to analysts’ expectations of $22,438,500 billion. During the same quarter in the prior year, the business posted $2.29 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, research analysts predict that Johnson & Johnson will post 9.95 EPS for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date is Tuesday, February 18th. Johnson & Johnson’s payout ratio is 71.78%.

Insider Transactions at Johnson & Johnson

In other news, Director Mark A. Weinberger bought 1,000 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were bought at an average cost of $147.22 per share, with a total value of $147,220.00. Following the purchase, the director now directly owns 1,000 shares in the company, valued at $147,220. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

JNJ has been the subject of several research analyst reports. Wolfe Research assumed coverage on shares of Johnson & Johnson in a research report on Friday, November 15th. They set an “outperform” rating and a $190.00 price target for the company. Royal Bank of Canada restated an “outperform” rating and set a $181.00 price objective on shares of Johnson & Johnson in a research note on Thursday. Guggenheim boosted their target price on shares of Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Bank of America cut their price target on Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Leerink Partners reduced their target price on Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating for the company in a research note on Thursday. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $170.06.

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.