Chesley Taft & Associates LLC Has $33.94 Million Holdings in Johnson & Johnson (NYSE:JNJ)

Chesley Taft & Associates LLC reduced its stake in shares of Johnson & Johnson (NYSE:JNJ) by 1.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 204,666 shares of the company’s stock after selling 2,669 shares during the period. Johnson & Johnson comprises approximately 1.6% of Chesley Taft & Associates LLC’s portfolio, making the stock its 13th biggest position. Chesley Taft & Associates LLC’s holdings in Johnson & Johnson were worth $33,942,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of JNJ. Salvus Wealth Management LLC grew its stake in shares of Johnson & Johnson by 17.4% in the 1st quarter. Salvus Wealth Management LLC now owns 7,391 shares of the company’s stock worth $1,226,000 after acquiring an additional 1,093 shares in the last quarter. Thrive Wealth Management LLC grew its position in Johnson & Johnson by 5.0% in the 1st quarter. Thrive Wealth Management LLC now owns 24,237 shares of the company’s stock worth $4,019,000 after purchasing an additional 1,147 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in Johnson & Johnson by 27.1% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 22,732 shares of the company’s stock valued at $3,770,000 after buying an additional 4,844 shares during the last quarter. Boltwood Capital Management lifted its position in shares of Johnson & Johnson by 14.3% during the 1st quarter. Boltwood Capital Management now owns 3,458 shares of the company’s stock worth $573,000 after buying an additional 433 shares in the last quarter. Finally, Lake Street Private Wealth LLC boosted its stake in shares of Johnson & Johnson by 10.5% in the 1st quarter. Lake Street Private Wealth LLC now owns 8,398 shares of the company’s stock worth $1,393,000 after buying an additional 797 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on JNJ shares. Leerink Partnrs downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Bank of America cut their target price on shares of Johnson & Johnson from $171.00 to $159.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. Leerink Partners downgraded shares of Johnson & Johnson from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $169.00 to $153.00 in a report on Tuesday, May 13th. The Goldman Sachs Group raised shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and boosted their target price for the company from $157.00 to $172.00 in a report on Wednesday, April 9th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $181.00 price objective on shares of Johnson & Johnson in a report on Wednesday, April 16th. Eleven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $170.88.

Johnson & Johnson Trading Down 0.7%

Shares of JNJ opened at $153.39 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.11 and a quick ratio of 0.86. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $169.99. The company has a market capitalization of $369.07 billion, a P/E ratio of 23.07, a P/E/G ratio of 2.56 and a beta of 0.42. The firm’s 50 day simple moving average is $153.81 and its 200 day simple moving average is $153.67.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.59 by $0.18. The firm had revenue of $21.89 billion for the quarter, compared to analyst estimates of $21.65 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. Sell-side analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $5.20 annualized dividend and a yield of 3.39%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.24. Johnson & Johnson’s dividend payout ratio is presently 57.84%.

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.