Cheviot Value Management LLC Raises Stake in Johnson & Johnson (NYSE:JNJ)

Key Points

• Cheviot Value Management LLC increased its stake in Johnson & Johnson by 11.2% during the first quarter, owning 172,696 shares valued at approximately $26.77 million.
• The company reported an earnings per share (EPS) of $2.77, surpassing expectations, and achieved a quarterly revenue of $23.74 billion, which was higher than analysts' estimates.
• Johnson & Johnson declared a quarterly dividend of $1.30 per share, with a yield of 3.1%, to be paid on September 9th to investors of record.

Cheviot Value Management LLC boosted its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 11.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 172,696 shares of the company's stock after purchasing an additional 17,378 shares during the period. Johnson & Johnson makes up approximately 3.3% of Cheviot Value Management LLC's holdings, making the stock its 6th biggest position. Cheviot Value Management LLC's holdings in Johnson & Johnson were worth $26,768,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in JNJ. Lantz Financial LLC boosted its holdings in shares of Johnson & Johnson by 3.3% during the first quarter. Lantz Financial LLC now owns 11,974 shares of the company's stock worth $1,986,000 after purchasing an additional 377 shares during the period. Sulzberger Capital Advisors Inc. bought a new position in shares of Johnson & Johnson in the fourth quarter valued at about $453,000. Joel Isaacson & Co. LLC grew its stake in shares of Johnson & Johnson by 3.5% during the first quarter. Joel Isaacson & Co. LLC now owns 74,132 shares of the company's stock valued at $12,294,000 after purchasing an additional 2,526 shares during the last quarter. State of Wyoming raised its position in Johnson & Johnson by 205,580.0% in the 4th quarter. State of Wyoming now owns 10,284 shares of the company's stock worth $1,487,000 after purchasing an additional 10,279 shares during the last quarter. Finally, Range Financial Group LLC lifted its holdings in Johnson & Johnson by 18.9% during the 1st quarter. Range Financial Group LLC now owns 15,886 shares of the company's stock worth $2,635,000 after buying an additional 2,529 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company's stock.

Johnson & Johnson Stock Performance

Shares of JNJ stock traded down $0.98 during midday trading on Tuesday, hitting $170.06. 1,737,396 shares of the company were exchanged, compared to its average volume of 9,047,732. The firm has a market capitalization of $409.56 billion, a P/E ratio of 18.18, a PEG ratio of 2.13 and a beta of 0.41. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $171.56. The firm's 50 day moving average price is $157.82 and its two-hundred day moving average price is $156.91.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, topping the consensus estimate of $2.68 by $0.09. The company had revenue of $23.74 billion for the quarter, compared to analysts' expectations of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The business's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $2.82 earnings per share. As a group, equities research analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be given a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $5.20 annualized dividend and a yield of 3.1%. Johnson & Johnson's dividend payout ratio (DPR) is presently 55.61%.

Wall Street Analyst Weigh In

JNJ has been the subject of a number of research reports. Benchmark upgraded Johnson & Johnson to a "strong-buy" rating in a research report on Thursday, April 24th. UBS Group raised their price target on Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Leerink Partnrs cut Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Wall Street Zen lowered shares of Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th. Finally, Leerink Partners cut shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $169.00 to $153.00 in a research report on Tuesday, May 13th. Nine equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Johnson & Johnson currently has a consensus rating of "Moderate Buy" and an average target price of $174.50.

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.