Chronos Wealth Management LLC Cuts Stock Position in Johnson & Johnson (NYSE:JNJ)

Chronos Wealth Management LLC lowered its holdings in Johnson & Johnson (NYSE:JNJ) by 1.8% during the 4th quarter, Holdings Channel reports. The firm owned 33,536 shares of the company’s stock after selling 611 shares during the period. Johnson & Johnson makes up about 2.5% of Chronos Wealth Management LLC’s investment portfolio, making the stock its 18th largest holding. Chronos Wealth Management LLC’s holdings in Johnson & Johnson were worth $4,850,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Apollon Wealth Management LLC boosted its position in Johnson & Johnson by 20.7% in the fourth quarter. Apollon Wealth Management LLC now owns 105,500 shares of the company’s stock worth $15,257,000 after purchasing an additional 18,082 shares during the last quarter. Vest Financial LLC boosted its position in Johnson & Johnson by 10.1% in the fourth quarter. Vest Financial LLC now owns 366,147 shares of the company’s stock worth $52,952,000 after purchasing an additional 33,658 shares during the last quarter. SC&H Financial Advisors Inc. raised its stake in shares of Johnson & Johnson by 17.0% in the fourth quarter. SC&H Financial Advisors Inc. now owns 1,959 shares of the company’s stock valued at $283,000 after buying an additional 285 shares during the period. Cidel Asset Management Inc. raised its stake in shares of Johnson & Johnson by 2.8% in the fourth quarter. Cidel Asset Management Inc. now owns 16,338 shares of the company’s stock valued at $2,363,000 after buying an additional 440 shares during the period. Finally, Conning Inc. raised its stake in shares of Johnson & Johnson by 7.1% in the fourth quarter. Conning Inc. now owns 229,267 shares of the company’s stock valued at $33,157,000 after buying an additional 15,180 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insider Transactions at Johnson & Johnson

In other news, Director Mark A. Weinberger acquired 1,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was purchased at an average cost of $147.22 per share, for a total transaction of $147,220.00. Following the acquisition, the director now owns 1,000 shares of the company’s stock, valued at $147,220. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $156.18 on Wednesday. The firm has a market capitalization of $376.02 billion, a P/E ratio of 23.49, a P/E/G ratio of 2.46 and a beta of 0.52. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. The stock’s 50-day simple moving average is $147.40 and its two-hundred day simple moving average is $156.04. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $168.85.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.05. Johnson & Johnson had a return on equity of 34.35% and a net margin of 18.20%. The business had revenue of $22.52 billion for the quarter, compared to analyst estimates of $22.44 billion. During the same period in the prior year, the company earned $2.29 EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, equities analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend is Tuesday, February 18th. Johnson & Johnson’s payout ratio is currently 74.59%.

Analysts Set New Price Targets

Several brokerages have issued reports on JNJ. Wells Fargo & Company lowered their target price on Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Royal Bank of Canada restated an “outperform” rating and issued a $181.00 target price on shares of Johnson & Johnson in a research note on Thursday, January 23rd. Morgan Stanley lowered their target price on Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Finally, Argus upgraded Johnson & Johnson to a “strong-buy” rating in a research note on Friday, January 24th. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $170.67.

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.