Charter Oak Capital Management LLC Reduces Stake in Johnson & Johnson (NYSE:JNJ)

Charter Oak Capital Management LLC lessened its stake in shares of Johnson & Johnson (NYSE:JNJ) by 9.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,243 shares of the company’s stock after selling 1,041 shares during the quarter. Charter Oak Capital Management LLC’s holdings in Johnson & Johnson were worth $1,497,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Bowman & Co S.C. boosted its holdings in shares of Johnson & Johnson by 9.4% during the second quarter. Bowman & Co S.C. now owns 11,012 shares of the company’s stock worth $1,610,000 after purchasing an additional 949 shares during the last quarter. Diversified LLC boosted its holdings in shares of Johnson & Johnson by 13.7% during the second quarter. Diversified LLC now owns 7,702 shares of the company’s stock worth $1,126,000 after purchasing an additional 928 shares during the last quarter. Slagle Financial LLC boosted its holdings in shares of Johnson & Johnson by 5.8% during the second quarter. Slagle Financial LLC now owns 12,785 shares of the company’s stock worth $1,869,000 after purchasing an additional 698 shares during the last quarter. Goldstein Advisors LLC boosted its holdings in shares of Johnson & Johnson by 26.8% during the second quarter. Goldstein Advisors LLC now owns 4,477 shares of the company’s stock worth $654,000 after purchasing an additional 947 shares during the last quarter. Finally, My Legacy Advisors LLC acquired a new stake in shares of Johnson & Johnson during the second quarter worth $254,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on JNJ shares. Sanford C. Bernstein raised their price objective on Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a report on Tuesday, July 30th. TD Cowen reduced their target price on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Morgan Stanley lifted their target price on Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Finally, The Goldman Sachs Group reduced their target price on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.21.

Johnson & Johnson Stock Up 1.1 %

Shares of NYSE JNJ traded up $1.75 during midday trading on Friday, reaching $164.10. 7,089,147 shares of the company’s stock were exchanged, compared to its average volume of 7,299,449. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $167.78. The stock has a market capitalization of $394.94 billion, a PE ratio of 10.23, a price-to-earnings-growth ratio of 2.63 and a beta of 0.52. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07. The business’s fifty day moving average price is $153.92 and its two-hundred day moving average price is $153.27.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The business had revenue of $22.45 billion for the quarter, compared to analyst estimates of $22.33 billion. During the same period in the previous year, the company earned $2.80 earnings per share. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. Analysts forecast that Johnson & Johnson will post 10.07 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend is Tuesday, August 27th. Johnson & Johnson’s payout ratio is 30.92%.

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.