Chemistry Wealth Management LLC Increases Stake in Johnson & Johnson (NYSE:JNJ)

Chemistry Wealth Management LLC grew its position in shares of Johnson & Johnson (NYSE:JNJ) by 8.5% in the first quarter, Holdings Channel reports. The institutional investor owned 15,891 shares of the company’s stock after buying an additional 1,243 shares during the period. Johnson & Johnson accounts for 0.7% of Chemistry Wealth Management LLC’s holdings, making the stock its 28th biggest holding. Chemistry Wealth Management LLC’s holdings in Johnson & Johnson were worth $2,514,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Keener Financial Planning LLC purchased a new position in shares of Johnson & Johnson in the 4th quarter valued at about $40,000. WFA Asset Management Corp increased its holdings in shares of Johnson & Johnson by 61.4% in the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after purchasing an additional 97 shares in the last quarter. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Johnson & Johnson in the 4th quarter valued at about $44,000. Disciplined Equity Management Inc. purchased a new position in shares of Johnson & Johnson in the 4th quarter valued at about $45,000. Finally, Grayhawk Investment Strategies Inc. increased its holdings in shares of Johnson & Johnson by 528.6% in the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock valued at $48,000 after purchasing an additional 259 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Trading Down 0.3 %

JNJ stock traded down $0.38 during midday trading on Wednesday, reaching $146.81. 5,266,590 shares of the company’s stock traded hands, compared to its average volume of 7,408,414. The company has a market capitalization of $353.32 billion, a P/E ratio of 9.15, a PEG ratio of 2.45 and a beta of 0.53. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $175.97. The business has a 50-day moving average price of $148.13 and a two-hundred day moving average price of $154.24.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $21.39 billion. During the same period in the previous year, the company posted $2.68 earnings per share. Johnson & Johnson’s revenue was up 2.3% compared to the same quarter last year. Equities research analysts forecast that Johnson & Johnson will post 10.63 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were given a dividend of $1.24 per share. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date was Monday, May 20th. Johnson & Johnson’s payout ratio is presently 30.92%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Bank of America lowered their price objective on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and increased their price objective for the company from $169.00 to $170.00 in a research note on Thursday, April 18th. The Goldman Sachs Group assumed coverage on shares of Johnson & Johnson in a research note on Thursday, May 30th. They issued a “neutral” rating and a $160.00 price objective on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price objective on shares of Johnson & Johnson in a research note on Monday, June 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Thursday, June 20th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $174.07.

Johnson & Johnson Company 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.