Chemung Canal Trust Co. Reduces Position in Johnson & Johnson (NYSE:JNJ)

Chemung Canal Trust Co. reduced its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 0.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 70,227 shares of the company’s stock after selling 138 shares during the quarter. Johnson & Johnson makes up about 2.1% of Chemung Canal Trust Co.’s portfolio, making the stock its 10th biggest holding. Chemung Canal Trust Co.’s holdings in Johnson & Johnson were worth $11,109,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Saratoga Research & Investment Management raised its holdings in Johnson & Johnson by 1.0% in the 1st quarter. Saratoga Research & Investment Management now owns 439,519 shares of the company’s stock valued at $69,528,000 after acquiring an additional 4,377 shares during the period. Grimes & Company Inc. increased its stake in shares of Johnson & Johnson by 2.3% during the first quarter. Grimes & Company Inc. now owns 97,925 shares of the company’s stock worth $15,491,000 after purchasing an additional 2,210 shares during the period. WoodTrust Financial Corp lifted its holdings in Johnson & Johnson by 10.9% during the 1st quarter. WoodTrust Financial Corp now owns 91,970 shares of the company’s stock worth $14,549,000 after purchasing an additional 9,033 shares during the last quarter. Griffin Asset Management Inc. grew its holdings in Johnson & Johnson by 0.5% in the 1st quarter. Griffin Asset Management Inc. now owns 79,488 shares of the company’s stock valued at $12,574,000 after buying an additional 400 shares in the last quarter. Finally, Toth Financial Advisory Corp increased its position in Johnson & Johnson by 1.8% during the 1st quarter. Toth Financial Advisory Corp now owns 62,847 shares of the company’s stock worth $9,942,000 after buying an additional 1,091 shares during the period. Institutional investors own 69.55% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Sunday. HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their price target for the company from $169.00 to $170.00 in a research report on Thursday, April 18th. Bank of America reduced their price target on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Thursday, June 20th. Finally, The Goldman Sachs Group assumed coverage on Johnson & Johnson in a research report on Thursday, May 30th. They issued a “neutral” rating and a $160.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $174.07.

Johnson & Johnson Stock Up 0.2 %

Shares of NYSE:JNJ opened at $146.16 on Monday. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $175.97. The company has a market capitalization of $351.76 billion, a PE ratio of 9.11, a price-to-earnings-growth ratio of 2.43 and a beta of 0.53. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 1.17. The company has a fifty day moving average of $148.14 and a 200-day moving average of $154.05.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The firm had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. During the same period last year, the company earned $2.68 earnings per share. The business’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities analysts predict that Johnson & Johnson will post 10.62 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were paid a dividend of $1.24 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $4.96 annualized dividend and a dividend yield of 3.39%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

About Johnson & Johnson

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.