Chancellor Financial Group WB LP Purchases New Shares in Johnson & Johnson (NYSE:JNJ)

Chancellor Financial Group WB LP purchased a new stake in Johnson & Johnson (NYSE:JNJ - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 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 holdings, making the stock its 10th biggest holding.

Other institutional investors have also recently modified their holdings of the company. Tallon Kerry Patrick acquired a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $290,000. Capital & Planning LLC increased its position in shares of Johnson & Johnson by 13.6% in the fourth quarter. Capital & Planning LLC now owns 1,528 shares of the company's stock worth $221,000 after acquiring an additional 183 shares in the last quarter. Brighton Jones LLC raised its holdings in shares of Johnson & Johnson by 13.9% during the 4th quarter. Brighton Jones LLC now owns 51,876 shares of the company's stock valued at $7,502,000 after buying an additional 6,332 shares during the period. Southland Equity Partners LLC boosted its holdings in Johnson & Johnson by 21.0% in the 4th quarter. Southland Equity Partners LLC now owns 22,440 shares of the company's stock worth $3,245,000 after acquiring an additional 3,900 shares during the period. Finally, Impact Partnership Wealth LLC lifted its position in shares of Johnson & Johnson by 10.7% during the fourth quarter. Impact Partnership Wealth LLC now owns 7,925 shares of the company's stock worth $1,146,000 after purchasing an additional 765 shares in the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

JNJ has been the topic of several recent analyst reports. Wall Street Zen cut Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Royal Bank of Canada reiterated an "outperform" rating and set a $181.00 target price on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Raymond James cut their price target on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Sanford C. Bernstein reissued a "market perform" rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Finally, The Goldman Sachs Group raised Johnson & Johnson from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $157.00 to $172.00 in a report on Wednesday, April 9th. Eleven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Johnson & Johnson has an average rating of "Moderate Buy" and an average target price of $170.88.

Johnson & Johnson Price Performance

Shares of JNJ stock traded up $1.41 during midday trading on Friday, reaching $154.99. 15,529,047 shares of the company were exchanged, compared to its average volume of 7,975,430. The company's 50 day moving average price is $154.31 and its two-hundred day moving average price is $153.65. The company has a market cap of $372.92 billion, a P/E ratio of 23.31, a PEG ratio of 2.56 and a beta of 0.42. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $169.99. 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 (NYSE:JNJ - Get Free Report) last issued its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.59 by $0.18. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The firm had revenue of $21.89 billion during the quarter, compared to analyst estimates of $21.65 billion. On average, sell-side analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current 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 issued a $1.30 dividend. This is an increase from Johnson & Johnson's previous quarterly dividend of $1.24. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend is Tuesday, May 27th. Johnson & Johnson's 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.