Adirondack Trust Co. Decreases Holdings in Johnson & Johnson (NYSE:JNJ)

Adirondack Trust Co. reduced its stake in shares of Johnson & Johnson (NYSE:JNJ) by 1.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 24,795 shares of the company’s stock after selling 272 shares during the period. Johnson & Johnson comprises 1.5% of Adirondack Trust Co.’s investment portfolio, making the stock its 14th biggest position. Adirondack Trust Co.’s holdings in Johnson & Johnson were worth $4,018,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Wedmont Private Capital raised its position in shares of Johnson & Johnson by 10.9% in the third quarter. Wedmont Private Capital now owns 24,651 shares of the company’s stock valued at $3,933,000 after purchasing an additional 2,421 shares during the period. Hexagon Capital Partners LLC raised its holdings in Johnson & Johnson by 4.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 6,055 shares of the company’s stock valued at $981,000 after acquiring an additional 284 shares during the period. CWM LLC lifted its position in shares of Johnson & Johnson by 7.6% during the third quarter. CWM LLC now owns 434,670 shares of the company’s stock worth $70,443,000 after acquiring an additional 30,666 shares in the last quarter. Brightwater Advisory LLC boosted its holdings in shares of Johnson & Johnson by 3.4% in the third quarter. Brightwater Advisory LLC now owns 3,713 shares of the company’s stock worth $602,000 after acquiring an additional 122 shares during the period. Finally, Saxon Interests Inc. raised its stake in shares of Johnson & Johnson by 14.8% during the 3rd quarter. Saxon Interests Inc. now owns 6,823 shares of the company’s stock valued at $1,106,000 after purchasing an additional 880 shares during the period. Institutional investors own 69.55% of the company’s stock.

Insider Activity

In related news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction on Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the sale, the vice president now owns 18,973 shares in the company, valued at $3,131,683.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on JNJ shares. Morgan Stanley lifted their target price on Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Daiwa Capital Markets lowered shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $160.00 to $150.00 in a report on Tuesday, July 23rd. TD Cowen cut their price target on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, July 18th. The Goldman Sachs Group decreased their price target on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Finally, StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average target price of $173.43.

Johnson & Johnson Stock Up 0.6 %

Shares of NYSE JNJ opened at $160.68 on Thursday. The stock has a market capitalization of $386.71 billion, a P/E ratio of 10.02, a PEG ratio of 2.69 and a beta of 0.52. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85. The firm’s 50 day simple moving average is $162.59 and its two-hundred day simple moving average is $154.36. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, beating the consensus estimate of $2.71 by $0.11. The company had revenue of $22.45 billion for the quarter, compared to analyst estimates of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.80 EPS. As a group, analysts expect that Johnson & Johnson will post 10.02 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were given a $1.24 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.09%. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Johnson & Johnson Company Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.