Chemung Canal Trust Co. reduced its position in shares of Johnson & Johnson (NYSE:JNJ) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 106,196 shares of the company’s stock after selling 2,427 shares during the quarter. Johnson & Johnson accounts for approximately 3.9% of Chemung Canal Trust Co.’s investment portfolio, making the stock its 3rd biggest holding. Chemung Canal Trust Co.’s holdings in Johnson & Johnson were worth $13,705,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of JNJ. Horan Securities Inc. lifted its stake in Johnson & Johnson by 122.3% in the 4th quarter. Horan Securities Inc. now owns 438 shares of the company’s stock valued at $56,000 after buying an additional 241 shares in the last quarter. Stuart Chaussee & Associates Inc. lifted its stake in Johnson & Johnson by 20.7% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 466 shares of the company’s stock valued at $60,000 after buying an additional 80 shares in the last quarter. FNY Investment Advisers LLC lifted its stake in Johnson & Johnson by 594.4% in the 4th quarter. FNY Investment Advisers LLC now owns 500 shares of the company’s stock valued at $64,000 after buying an additional 428 shares in the last quarter. CKW Financial Group lifted its stake in Johnson & Johnson by 18.8% in the 4th quarter. CKW Financial Group now owns 810 shares of the company’s stock valued at $105,000 after buying an additional 128 shares in the last quarter. Finally, Mackey Komara & Dankovich LLC purchased a new position in Johnson & Johnson in the 4th quarter valued at about $148,000. 67.20% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on JNJ shares. Zacks Investment Research lowered shares of Johnson & Johnson from a “hold” rating to a “sell” rating in a research note on Wednesday, January 16th. Barclays reissued an “equal weight” rating and issued a $135.00 target price (down from $137.00) on shares of Johnson & Johnson in a research note on Wednesday, January 23rd. Credit Suisse Group raised their target price on shares of Johnson & Johnson from $151.00 to $152.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 17th. Citigroup raised their target price on shares of Johnson & Johnson from $139.00 to $147.00 and gave the stock a “neutral” rating in a research note on Monday, February 25th. Finally, Wells Fargo & Co reissued an “outperform” rating and issued a $157.00 target price (up from $152.00) on shares of Johnson & Johnson in a research note on Monday, May 6th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $146.90.
Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, April 16th. The company reported $2.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.03 by $0.07. The business had revenue of $20.02 billion for the quarter, compared to analyst estimates of $19.55 billion. Johnson & Johnson had a net margin of 17.99% and a return on equity of 36.29%. The business’s revenue was up .1% on a year-over-year basis. During the same period last year, the company posted $2.06 EPS. Sell-side analysts forecast that Johnson & Johnson will post 8.6 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 28th will be issued a dividend of $0.95 per share. The ex-dividend date of this dividend is Friday, May 24th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.78%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $0.90. Johnson & Johnson’s dividend payout ratio (DPR) is currently 44.01%.
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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. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The 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, 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.
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