Johnson & Johnson (NYSE:JNJ) Stake Reduced by Chemung Canal Trust Co.

Chemung Canal Trust Co. decreased its position in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 1.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 83,789 shares of the company’s stock after selling 1,339 shares during the quarter. Johnson & Johnson makes up 3.4% of Chemung Canal Trust Co.’s holdings, making the stock its 6th largest holding. Chemung Canal Trust Co.’s holdings in Johnson & Johnson were worth $13,687,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Morton Brown Family Wealth LLC increased its position in Johnson & Johnson by 78.0% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 178 shares of the company’s stock valued at $32,000 after purchasing an additional 78 shares during the period. Goodman Advisory Group LLC purchased a new position in Johnson & Johnson during the second quarter valued at approximately $39,000. First Bank & Trust raised its stake in Johnson & Johnson by 69.6% in the second quarter. First Bank & Trust now owns 380 shares of the company’s stock worth $67,000 after buying an additional 156 shares in the last quarter. Heritage Wealth Management LLC bought a new stake in Johnson & Johnson during the 2nd quarter valued at $84,000. Finally, Timber Creek Capital Management LLC increased its holdings in shares of Johnson & Johnson by 225.0% in the 3rd quarter. Timber Creek Capital Management LLC now owns 650 shares of the company’s stock valued at $106,000 after acquiring an additional 450 shares during the period. Hedge funds and other institutional investors own 67.94% of the company’s stock.

Johnson & Johnson Stock Performance

Johnson & Johnson stock opened at $168.31 on Wednesday. The stock has a 50-day moving average price of $175.98 and a 200 day moving average price of $171.06. The company has a market capitalization of $440.04 billion, a price-to-earnings ratio of 23.44, a price-to-earnings-growth ratio of 3.21 and a beta of 0.56. Johnson & Johnson has a 52 week low of $155.72 and a 52 week high of $186.69. The company has a quick ratio of 1.18, a current ratio of 1.43 and a debt-to-equity ratio of 0.37.

Johnson & Johnson (NYSE:JNJGet Rating) last released its quarterly earnings data on Tuesday, January 24th. The company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.23 by $0.12. Johnson & Johnson had a net margin of 19.95% and a return on equity of 35.37%. The business had revenue of $23.71 billion for the quarter, compared to the consensus estimate of $23.90 billion. During the same period in the prior year, the firm earned $2.13 EPS. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. Sell-side analysts anticipate that Johnson & Johnson will post 10.04 EPS for the current year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 7th. Investors of record on Tuesday, February 21st will be issued a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Friday, February 17th. Johnson & Johnson’s dividend payout ratio (DPR) is 62.95%.

Insider Activity at Johnson & Johnson

In other news, VP Thibaut Mongon sold 35,246 shares of the firm’s stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $171.18, for a total transaction of $6,033,410.28. Following the sale, the vice president now owns 40,133 shares of the company’s stock, valued at approximately $6,869,966.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Thibaut Mongon sold 35,246 shares of the stock in a transaction on Friday, November 4th. The shares were sold at an average price of $171.18, for a total transaction of $6,033,410.28. Following the sale, the vice president now directly owns 40,133 shares of the company’s stock, valued at $6,869,966.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Robert J. Decker sold 16,928 shares of Johnson & Johnson stock in a transaction on Friday, November 18th. The shares were sold at an average price of $175.00, for a total transaction of $2,962,400.00. Following the completion of the transaction, the chief accounting officer now directly owns 15,473 shares of the company’s stock, valued at approximately $2,707,775. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 233,611 shares of company stock worth $40,960,735. 0.35% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Citigroup upped their price objective on Johnson & Johnson from $198.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, December 12th. Barclays started coverage on shares of Johnson & Johnson in a research report on Monday, October 17th. They issued an “equal weight” rating and a $175.00 price objective on the stock. Credit Suisse Group began coverage on shares of Johnson & Johnson in a research note on Thursday, November 17th. They issued a “neutral” rating and a $170.00 target price for the company. Sanford C. Bernstein reduced their price target on Johnson & Johnson from $194.00 to $190.00 in a research report on Wednesday, October 19th. Finally, SVB Leerink lowered their price objective on Johnson & Johnson from $194.00 to $186.00 and set an “outperform” rating for the company in a research report on Friday, January 20th. Seven analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $181.75.

Johnson & Johnson Company Profile

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Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer Health, Pharmaceutical, and Medical Devices. The Consumer Health segment includes products used in the baby care, oral care, beauty, over-the-counter pharmaceutical, women’s health, and wound care markets.

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

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