Johnson & Johnson (NYSE:JNJ) is Canandaigua National Corp’s 4th Largest Position

Posted by Defense World Staff on May 11th, 2023

Canandaigua National Corp reduced its position in Johnson & Johnson (NYSE:JNJ – Get Rating) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 103,904 shares of the company’s stock after selling 433 shares during the quarter. Johnson & Johnson comprises approximately 3.1% of Canandaigua National Corp’s investment portfolio, making the stock its 4th biggest holding. Canandaigua National Corp’s holdings in Johnson & Johnson were worth $18,355,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Johnson & Johnson by 1.2% in the third quarter. Vanguard Group Inc. now owns 245,340,875 shares of the company’s stock worth $40,078,885,000 after buying an additional 2,815,655 shares during the last quarter. State Street Corp raised its stake in Johnson & Johnson by 0.6% in the 3rd quarter. State Street Corp now owns 141,886,311 shares of the company’s stock worth $23,178,548,000 after acquiring an additional 803,013 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Johnson & Johnson by 3.3% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 25,428,626 shares of the company’s stock worth $4,154,022,000 after acquiring an additional 805,831 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Johnson & Johnson by 1.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 17,189,229 shares of the company’s stock valued at $3,046,449,000 after purchasing an additional 328,297 shares during the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of Johnson & Johnson by 2.7% in the third quarter. California Public Employees Retirement System now owns 11,751,504 shares of the company’s stock worth $1,919,726,000 after purchasing an additional 310,473 shares during the last quarter. Hedge funds and other institutional investors own 67.94% of the company’s stock.

Johnson & Johnson Stock Performance

JNJ opened at $161.65 on Thursday. The company has a market cap of $420.08 billion, a price-to-earnings ratio of 33.82, a PEG ratio of 2.77 and a beta of 0.53. The firm’s fifty day simple moving average is $158.80 and its two-hundred day simple moving average is $166.87. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.49. Johnson & Johnson has a 52-week low of $150.11 and a 52-week high of $183.35.

Johnson & Johnson (NYSE:JNJ – Get Rating) last posted its quarterly earnings data on Tuesday, April 18th. The company reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.17. Johnson & Johnson had a return on equity of 36.13% and a net margin of 13.22%. The company had revenue of $24.75 billion for the quarter, compared to analysts’ expectations of $23.61 billion. During the same period in the previous year, the firm posted $2.67 EPS. Johnson & Johnson’s revenue was up 5.6% compared to the same quarter last year. Equities analysts anticipate that Johnson & Johnson will post 10.66 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 6th. Shareholders of record on Tuesday, May 23rd will be issued a $1.19 dividend. The ex-dividend date is Monday, May 22nd. This represents a $4.76 dividend on an annualized basis and a yield of 2.94%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.13. Johnson & Johnson’s dividend payout ratio (DPR) is presently 94.56%.

Analysts Set New Price Targets

JNJ has been the topic of a number of recent research reports. Credit Suisse Group upped their target price on Johnson & Johnson from $168.00 to $170.00 in a research report on Friday, May 5th. Guggenheim started coverage on shares of Johnson & Johnson in a research note on Tuesday, February 28th. They issued a “neutral” rating and a $161.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research report on Wednesday, February 1st. UBS Group began coverage on Johnson & Johnson in a report on Tuesday, March 28th. They issued a “neutral” rating and a $164.00 price objective for the company. Finally, Piper Sandler reduced their price target on Johnson & Johnson from $55.00 to $52.00 in a research report on Monday, February 6th. 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’s stock. According to MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.00.

Insider Transactions at Johnson & Johnson

In other Johnson & Johnson news, insider James D. Swanson sold 1,062 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $154.66, for a total value of $164,248.92. Following the transaction, the insider now directly owns 9,215 shares of the company’s stock, valued at approximately $1,425,191.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

Johnson & Johnson 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 MedTech. The Consumer Health segment includes products focused on personal healthcare used in the Skin Health/Beauty, Over-the-Counter medicines, Baby Care, Oral Care, Women’s Health and Wound Care markets.