Johnson & Johnson (NYSE:JNJ) is Chemung Canal Trust Co.’s 6th Largest Position

Chemung Canal Trust Co. cut its stake in Johnson & Johnson (NYSE:JNJ – Get Rating) by 1.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 83,789 shares of the company’s stock after selling 1,339 shares during the period. Johnson & Johnson makes up about 3.4% of Chemung Canal Trust Co.’s holdings, making the stock its 6th largest holding. Chemung Canal Trust Co.’s holdings in Johnson & Johnson were worth $13,687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Morton Brown Family Wealth LLC lifted its holdings in Johnson & Johnson by 78.0% in the second quarter. Morton Brown Family Wealth LLC now owns 178 shares of the company’s stock valued at $32,000 after acquiring an additional 78 shares during the last quarter. Goodman Advisory Group LLC acquired a new position in Johnson & Johnson in the second quarter valued at about $39,000. First Bank & Trust increased its position in shares of Johnson & Johnson by 69.6% during the second quarter. First Bank & Trust now owns 380 shares of the company’s stock valued at $67,000 after acquiring an additional 156 shares during the last quarter. Heritage Wealth Management LLC purchased a new stake in shares of Johnson & Johnson in the 2nd quarter valued at approximately $84,000. Finally, Timber Creek Capital Management LLC boosted its position in shares of Johnson & Johnson by 225.0% during the 3rd quarter. Timber Creek Capital Management LLC now owns 650 shares of the company’s stock worth $106,000 after purchasing an additional 450 shares during the period. 67.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Johnson & Johnson

In other news, CAO Robert J. Decker sold 16,928 shares of Johnson & Johnson stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $175.00, for a total value of $2,962,400.00. Following the sale, the chief accounting officer now owns 15,473 shares of the company’s stock, valued at $2,707,775. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP Thibaut Mongon sold 35,246 shares of Johnson & Johnson stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $171.18, for a total value of $6,033,410.28. Following the sale, the vice president now directly owns 40,133 shares in the company, valued at $6,869,966.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Robert J. Decker sold 16,928 shares of the business’s stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $175.00, for a total transaction of $2,962,400.00. Following the sale, the chief accounting officer now directly owns 15,473 shares in the company, valued at approximately $2,707,775. The disclosure for this sale can be found here. In the last three months, insiders have sold 233,611 shares of company stock valued at $40,960,735. 0.35% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on JNJ shares. Bank of America lowered their price target on Johnson & Johnson from $185.00 to $178.00 and set a “neutral” rating for the company in a research report on Friday, October 14th. Morgan Stanley dropped their price objective on shares of Johnson & Johnson from $178.00 to $176.00 and set an “equal weight” rating for the company in a report on Tuesday, December 6th. Raymond James cut their price objective on Johnson & Johnson from $192.00 to $185.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 19th. Credit Suisse Group began coverage on Johnson & Johnson in a report on Thursday, November 17th. They set a “neutral” rating and a $170.00 price target on the stock. Finally, Sanford C. Bernstein decreased their price target on shares of Johnson & Johnson from $194.00 to $190.00 in a research note on Wednesday, October 19th. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $181.75.

Johnson & Johnson Price Performance

JNJ stock opened at $168.31 on Wednesday. Johnson & Johnson has a 12 month low of $155.72 and a 12 month high of $186.69. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.43 and a quick ratio of 1.18. The company has a market cap of $440.04 billion, a price-to-earnings ratio of 23.44, a price-to-earnings-growth ratio of 3.21 and a beta of 0.56. The company has a fifty day moving average price of $175.98 and a 200 day moving average price of $171.06.

Johnson & Johnson (NYSE:JNJ – Get Rating) last announced its earnings results on Tuesday, January 24th. The company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.12. The business had revenue of $23.71 billion during the quarter, compared to the consensus estimate of $23.90 billion. Johnson & Johnson had a net margin of 19.95% and a return on equity of 35.37%. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.13 earnings per share. Sell-side analysts expect that Johnson & Johnson will post 10.04 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 7th. Investors of record on Tuesday, February 21st will be issued a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Friday, February 17th. Johnson & Johnson’s dividend payout ratio is presently 62.95%.

Johnson & Johnson Company Profile

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Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer Health, Pharmaceutical, and Medical Devices. The Consumer Health segment includes products used in the baby care, oral care, beauty, over-the-counter pharmaceutical, women’s health, and wound care markets.