Chancellor Financial Group WB LP Acquires Shares of 17,083 Johnson & Johnson (NYSE:JNJ)

Chancellor Financial Group WB LP bought a new position in Johnson & Johnson (NYSE:JNJ) during the 4th quarter, Holdings Channel reports. The fund bought 17,083 shares of the company’s stock, valued at approximately $2,471,000. Johnson & Johnson accounts for about 2.0% of Chancellor Financial Group WB LP’s portfolio, making the stock its 10th biggest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in JNJ. WealthTrak Capital Management LLC bought a new stake in Johnson & Johnson in the fourth quarter worth $26,000. Mountain Hill Investment Partners Corp. bought a new position in Johnson & Johnson during the fourth quarter valued at $29,000. Bay Harbor Wealth Management LLC bought a new position in Johnson & Johnson during the 4th quarter valued at about $32,000. Conquis Financial LLC purchased a new stake in Johnson & Johnson in the 4th quarter worth about $33,000. Finally, Bernard Wealth Management Corp. purchased a new position in shares of Johnson & Johnson during the fourth quarter valued at approximately $36,000. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Stock Performance

JNJ stock opened at $153.25 on Wednesday. The firm has a 50-day simple moving average of $154.85 and a two-hundred day simple moving average of $153.65. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11. Johnson & Johnson has a one year low of $140.68 and a one year high of $169.99. The firm has a market cap of $368.73 billion, a price-to-earnings ratio of 23.05, a PEG ratio of 2.56 and a beta of 0.42.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.18. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The company had revenue of $21.89 billion during the quarter, compared to analysts’ expectations of $21.65 billion. On average, equities analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th will be paid a dividend of $1.30 per share. 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. The ex-dividend date is Tuesday, May 27th. Johnson & Johnson’s payout ratio is 57.84%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on JNJ shares. The Goldman Sachs Group upgraded Johnson & Johnson from a “neutral” rating to a “buy” rating and increased their price target for the stock from $157.00 to $172.00 in a report on Wednesday, April 9th. Wall Street Zen lowered shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Guggenheim reaffirmed a “neutral” rating on shares of Johnson & Johnson in a research note on Wednesday, April 2nd. Raymond James decreased their price objective on shares of Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating for the company in a report on Monday, April 14th. Finally, Bank of America reduced their price objective on Johnson & Johnson from $171.00 to $159.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. Eleven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Johnson & Johnson has an average rating of “Moderate Buy” and a consensus price target of $170.88.

Johnson & Johnson 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.