City Holding Co. Decreases Position in Johnson & Johnson (NYSE:JNJ)

City Holding Co. reduced its stake in Johnson & Johnson (NYSE:JNJ) by 6.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,633 shares of the company’s stock after selling 1,610 shares during the period. City Holding Co.’s holdings in Johnson & Johnson were worth $3,830,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Bellevue Group AG boosted its position in shares of Johnson & Johnson by 23.9% in the 4th quarter. Bellevue Group AG now owns 28,280 shares of the company’s stock valued at $4,433,000 after purchasing an additional 5,457 shares during the period. Icon Wealth Advisors LLC acquired a new stake in shares of Johnson & Johnson in the fourth quarter valued at approximately $1,392,000. Putnam Investments LLC grew its position in shares of Johnson & Johnson by 0.3% during the fourth quarter. Putnam Investments LLC now owns 624,978 shares of the company’s stock worth $97,959,000 after acquiring an additional 2,128 shares during the last quarter. Caxton Associates LP increased its holdings in shares of Johnson & Johnson by 199.4% in the 4th quarter. Caxton Associates LP now owns 18,341 shares of the company’s stock valued at $2,875,000 after acquiring an additional 12,216 shares during the period. Finally, First Financial Bankshares Inc acquired a new stake in Johnson & Johnson during the 4th quarter worth $78,509,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on JNJ. TD Securities reduced their target price on shares of Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Royal Bank of Canada upped their price objective on Johnson & Johnson from $175.00 to $178.00 and gave the company an “outperform” rating in a research note on Tuesday. TD Cowen lowered their target price on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Daiwa Capital Markets cut Johnson & Johnson from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Finally, StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $173.43.

Insider Buying and Selling at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the transaction, the vice president now directly owns 18,973 shares in the company, valued at $3,131,683.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.16% of the stock is currently owned by insiders.

Johnson & Johnson Trading Up 0.1 %

Shares of Johnson & Johnson stock opened at $159.64 on Wednesday. The company has a 50-day moving average of $162.62 and a two-hundred day moving average of $154.33. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The stock has a market cap of $384.20 billion, a PE ratio of 9.95, a price-to-earnings-growth ratio of 2.69 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.11. The firm had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. Johnson & Johnson’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the business posted $2.80 EPS. On average, research analysts anticipate 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. Investors 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 annualized dividend and a dividend yield of 3.11%. Johnson & Johnson’s dividend payout ratio is presently 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.