Chemung Canal Trust Co. Sells 2,427 Shares of Johnson & Johnson (JNJ)

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.

JNJ opened at $136.82 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.13 and a current ratio of 1.44. Johnson & Johnson has a 1-year low of $118.62 and a 1-year high of $148.99. The company has a market capitalization of $373.06 billion, a price-to-earnings ratio of 16.73, a price-to-earnings-growth ratio of 2.40 and a beta of 0.67.

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%.

ILLEGAL ACTIVITY WARNING: This piece of content was originally posted by Baseball Daily News and is owned by of Baseball Daily News. If you are accessing this piece of content on another domain, it was illegally copied and republished in violation of U.S. and international trademark & copyright law. The legal version of this piece of content can be viewed at https://www.baseballdailydigest.com/news/2019/05/15/chemung-canal-trust-co-sells-2427-shares-of-johnson-johnson-jnj.html.

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.

Further Reading: What are the qualifications of a portfolio manager?

Want to see what other hedge funds are holding JNJ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Johnson & Johnson (NYSE:JNJ).

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

Receive News & Ratings for Johnson & Johnson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Johnson & Johnson and related companies with MarketBeat.com's FREE daily email newsletter.