Choate Investment Advisors Sells 2,720 Shares of Johnson & Johnson (JNJ)

Choate Investment Advisors lessened its stake in shares of Johnson & Johnson (NYSE:JNJ) by 3.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 87,251 shares of the company’s stock after selling 2,720 shares during the period. Johnson & Johnson makes up approximately 0.6% of Choate Investment Advisors’ holdings, making the stock its 24th largest holding. Choate Investment Advisors’ holdings in Johnson & Johnson were worth $10,587,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Narwhal Capital Management raised its holdings in Johnson & Johnson by 2.5% during the 2nd quarter. Narwhal Capital Management now owns 40,917 shares of the company’s stock valued at $4,965,000 after buying an additional 1,010 shares during the period. TT International raised its holdings in Johnson & Johnson by 254.1% during the 1st quarter. TT International now owns 136,518 shares of the company’s stock valued at $15,930,000 after buying an additional 97,969 shares during the period. Eagle Global Advisors LLC raised its holdings in Johnson & Johnson by 1.6% during the 1st quarter. Eagle Global Advisors LLC now owns 77,460 shares of the company’s stock valued at $9,927,000 after buying an additional 1,221 shares during the period. Wealth Alliance Advisory Group LLC raised its holdings in Johnson & Johnson by 9.5% during the 2nd quarter. Wealth Alliance Advisory Group LLC now owns 11,274 shares of the company’s stock valued at $1,368,000 after buying an additional 981 shares during the period. Finally, Chilton Capital Management LLC raised its holdings in Johnson & Johnson by 23.6% during the 1st quarter. Chilton Capital Management LLC now owns 95,055 shares of the company’s stock valued at $12,181,000 after buying an additional 18,122 shares during the period. Institutional investors own 66.60% of the company’s stock.

In other news, CAO Ronald A. Kapusta sold 7,899 shares of the stock in a transaction on Friday, September 7th. The stock was sold at an average price of $137.18, for a total transaction of $1,083,584.82. Following the transaction, the chief accounting officer now owns 25,725 shares of the company’s stock, valued at approximately $3,528,955.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Michael E. Sneed sold 29,000 shares of the stock in a transaction on Monday, August 27th. The stock was sold at an average price of $134.80, for a total value of $3,909,200.00. Following the transaction, the chief operating officer now directly owns 59,124 shares in the company, valued at approximately $7,969,915.20. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by corporate insiders.

JNJ stock opened at $142.57 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.40 and a current ratio of 1.72. Johnson & Johnson has a twelve month low of $118.62 and a twelve month high of $148.32. The firm has a market capitalization of $377.43 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 2.20 and a beta of 0.58.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, October 16th. The company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.02. Johnson & Johnson had a return on equity of 34.62% and a net margin of 1.89%. The business had revenue of $20.35 billion for the quarter, compared to analyst estimates of $20.05 billion. During the same quarter last year, the firm posted $1.90 earnings per share. The business’s revenue was up 3.6% compared to the same quarter last year. Sell-side analysts predict that Johnson & Johnson will post 8.16 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 11th. Stockholders of record on Tuesday, November 27th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Monday, November 26th. Johnson & Johnson’s payout ratio is 49.32%.

Several analysts recently weighed in on the company. ValuEngine upgraded Johnson & Johnson from a “sell” rating to a “hold” rating in a report on Saturday, July 28th. Credit Suisse Group set a $149.00 target price on Johnson & Johnson and gave the stock a “buy” rating in a research note on Sunday, October 14th. HC Wainwright reiterated a “buy” rating on shares of Johnson & Johnson in a research note on Wednesday, October 17th. Raymond James increased their target price on Johnson & Johnson from $144.00 to $149.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 17th. Finally, Jefferies Financial Group set a $145.00 target price on Johnson & Johnson and gave the stock a “buy” rating in a research note on Sunday, July 15th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $142.54.

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About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. Its Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, RoC, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.

Further Reading: Understanding Analyst Ratings

Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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