Adirondack Trust Co. Trims Stock Position in Johnson & Johnson (NYSE:JNJ)

Adirondack Trust Co. lessened its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 3.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,862 shares of the company’s stock after selling 933 shares during the quarter. Johnson & Johnson comprises 1.3% of Adirondack Trust Co.’s investment portfolio, making the stock its 16th largest position. Adirondack Trust Co.’s holdings in Johnson & Johnson were worth $3,451,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. International Assets Investment Management LLC increased its holdings in Johnson & Johnson by 20,130.0% during the 3rd quarter. International Assets Investment Management LLC now owns 3,454,473 shares of the company’s stock valued at $559,832,000 after purchasing an additional 3,437,397 shares during the period. Janus Henderson Group PLC lifted its position in Johnson & Johnson by 228.1% during the third quarter. Janus Henderson Group PLC now owns 3,389,361 shares of the company’s stock valued at $549,223,000 after buying an additional 2,356,359 shares during the period. Franklin Resources Inc. increased its stake in shares of Johnson & Johnson by 11.4% in the 3rd quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock worth $2,721,355,000 after acquiring an additional 1,729,281 shares in the last quarter. Holocene Advisors LP purchased a new position in Johnson & Johnson during the 3rd quarter valued at about $225,040,000. Finally, FMR LLC grew its stake in shares of Johnson & Johnson by 7.4% in the 3rd quarter. FMR LLC now owns 18,316,920 shares of the company’s stock worth $2,968,440,000 after buying an additional 1,265,748 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

JNJ has been the topic of several recent analyst reports. Leerink Partners cut their price objective on shares of Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating on the stock in a research report on Thursday. Royal Bank of Canada restated an “outperform” rating and set a $181.00 price objective on shares of Johnson & Johnson in a research report on Thursday. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Citigroup reduced their price target on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Finally, Barclays lowered their target price on Johnson & Johnson from $160.00 to $159.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average target price of $170.06.

Johnson & Johnson Trading Up 0.1 %

NYSE:JNJ opened at $146.76 on Friday. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $168.85. The firm has a 50 day moving average of $147.85 and a 200 day moving average of $155.99. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $353.34 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 2.45 and a beta of 0.51.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.05. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.35%. The business had revenue of $22.52 billion during the quarter, compared to analysts’ expectations of $22,438,500 billion. During the same quarter last year, the company posted $2.29 earnings per share. The business’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10.56 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Tuesday, February 18th. Johnson & Johnson’s payout ratio is currently 74.59%.

Insider Buying and Selling at Johnson & Johnson

In other news, Director Mark A. Weinberger purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average cost of $147.22 per share, for a total transaction of $147,220.00. Following the completion of the transaction, the director now owns 1,000 shares of the company’s stock, valued at $147,220. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.16% of the stock is owned by corporate insiders.

About Johnson & Johnson

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.