Adirondack Trust Co. reduced its position in Johnson & Johnson (NYSE:JNJ – Free Report) by 0.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,552 shares of the company’s stock after selling 101 shares during the quarter. Johnson & Johnson accounts for approximately 2.1% of Adirondack Trust Co.’s holdings, making the stock its 7th biggest holding. Adirondack Trust Co.’s holdings in Johnson & Johnson were worth $4,116,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of JNJ. Scotia Capital Inc. increased its holdings in Johnson & Johnson by 1.6% during the fourth quarter. Scotia Capital Inc. now owns 1,105,147 shares of the company’s stock valued at $195,247,000 after buying an additional 17,440 shares during the period. Boyar Asset Management Inc. increased its holdings in Johnson & Johnson by 1.1% during the first quarter. Boyar Asset Management Inc. now owns 19,191 shares of the company’s stock valued at $2,975,000 after buying an additional 201 shares during the period. Duality Advisers LP purchased a new position in Johnson & Johnson during the fourth quarter valued at approximately $4,342,000. Beacon Harbor Wealth Advisors Inc. purchased a new position in Johnson & Johnson during the fourth quarter valued at approximately $509,000. Finally, Modera Wealth Management LLC boosted its stake in Johnson & Johnson by 18.0% in the fourth quarter. Modera Wealth Management LLC now owns 44,189 shares of the company’s stock valued at $7,806,000 after acquiring an additional 6,738 shares in the last quarter. 67.57% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
JNJ has been the subject of several recent analyst reports. Atlantic Securities lowered their target price on shares of Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating for the company in a research note on Wednesday, April 19th. TheStreet downgraded shares of Johnson & Johnson from a “b” rating to a “c+” rating in a research note on Friday, May 19th. StockNews.com initiated coverage on shares of Johnson & Johnson in a research note on Thursday, May 18th. They issued a “strong-buy” rating for the company. Credit Suisse Group lifted their price objective on shares of Johnson & Johnson from $170.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, July 21st. Finally, Stifel Nicolaus lifted their price objective on shares of Johnson & Johnson from $165.00 to $175.00 in a research note on Friday, July 21st. Eight equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Johnson & Johnson presently has an average rating of “Hold” and a consensus price target of $171.60.
Insider Transactions at Johnson & Johnson
Johnson & Johnson Stock Up 0.2 %
JNJ opened at $172.72 on Thursday. Johnson & Johnson has a fifty-two week low of $150.11 and a fifty-two week high of $181.04. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.85 and a current ratio of 1.07. The company has a fifty day moving average of $160.60 and a two-hundred day moving average of $161.20. The stock has a market capitalization of $448.85 billion, a price-to-earnings ratio of 34.96, a PEG ratio of 2.87 and a beta of 0.55.
Johnson & Johnson (NYSE:JNJ – Get Free Report) last released its quarterly earnings data on Thursday, July 20th. The company reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.18. Johnson & Johnson had a net margin of 13.35% and a return on equity of 37.01%. The company had revenue of $25.53 billion during the quarter, compared to analysts’ expectations of $24.63 billion. During the same quarter in the previous year, the company earned $2.59 earnings per share. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, research analysts expect that Johnson & Johnson will post 10.76 earnings per share for the current year.
Johnson & Johnson Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Monday, August 28th will be paid a dividend of $1.19 per share. The ex-dividend date of this dividend is Friday, August 25th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.76%. Johnson & Johnson’s dividend payout ratio is currently 96.36%.
About Johnson & Johnson
Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment provides skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR. CI:LABO, NEUTROGENA, and OGX brands; baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; TYLENOL acetaminophen products; SUDAFED cold, flu, and allergy products; BENADRYL and ZYRTEC allergy products; MOTRIN IB ibuprofen products; NICORETTE smoking cessation products; and PEPCID acid reflux products.
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