Chemung Canal Trust Co. Sells 203 Shares of Johnson & Johnson (NYSE:JNJ)

Chemung Canal Trust Co. lessened its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,360 shares of the company’s stock after selling 203 shares during the quarter. Johnson & Johnson makes up 1.9% of Chemung Canal Trust Co.’s portfolio, making the stock its 14th biggest position. Chemung Canal Trust Co.’s holdings in Johnson & Johnson were worth $9,308,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vinva Investment Management Ltd boosted its position in shares of Johnson & Johnson by 6.8% during the third quarter. Vinva Investment Management Ltd now owns 111,448 shares of the company’s stock valued at $17,988,000 after purchasing an additional 7,110 shares in the last quarter. Financial Counselors Inc. boosted its holdings in shares of Johnson & Johnson by 5.3% during the 3rd quarter. Financial Counselors Inc. now owns 185,093 shares of the company’s stock valued at $29,996,000 after buying an additional 9,309 shares in the last quarter. Meridian Investment Counsel Inc. grew its position in shares of Johnson & Johnson by 19.6% in the 3rd quarter. Meridian Investment Counsel Inc. now owns 22,629 shares of the company’s stock worth $3,667,000 after buying an additional 3,710 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Johnson & Johnson by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock valued at $2,858,543,000 after acquiring an additional 102,502 shares during the period. Finally, Lord Abbett & CO. LLC bought a new stake in Johnson & Johnson during the third quarter worth about $69,859,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insider Activity at Johnson & Johnson

In related news, Director Mark A. Weinberger acquired 1,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were purchased at an average price of $147.22 per share, with a total value of $147,220.00. Following the completion of the purchase, the director now directly owns 1,000 shares of the company’s stock, valued at $147,220. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.16% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on JNJ shares. Leerink Partners lowered their target price on shares of Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Wolfe Research began coverage on Johnson & Johnson in a report on Friday, November 15th. They issued an “outperform” rating and a $190.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Wednesday, October 16th. Wells Fargo & Company dropped their price target on shares of Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Finally, Guggenheim raised their price objective on shares of Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and a consensus target price of $170.06.

Johnson & Johnson Stock Up 4.1 %

JNJ stock opened at $152.91 on Tuesday. The company has a market cap of $368.15 billion, a price-to-earnings ratio of 22.99, a P/E/G ratio of 2.45 and a beta of 0.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03. The business’s 50-day moving average is $147.85 and its two-hundred day moving average is $156.10. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $168.85.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data 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 company had revenue of $22.52 billion for the quarter, compared to the consensus estimate of $22,438,500 billion. During the same quarter last year, the firm posted $2.29 earnings per share. The firm’s revenue was up 5.3% compared to the same quarter last year. As a group, analysts forecast that Johnson & Johnson will post 10.56 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be issued a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a yield of 3.24%. Johnson & Johnson’s dividend payout ratio is currently 74.59%.

Johnson & Johnson Profile

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.