Johnson & Johnson (NYSE:JNJ) Shares Sold by Canandaigua National Corp

Canandaigua National Corp decreased its holdings in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 4.4% in the 2nd quarter, Holdings Channel.com reports. The fund owned 104,495 shares of the company’s stock after selling 4,754 shares during the quarter. Johnson & Johnson makes up about 3.3% of Canandaigua National Corp’s holdings, making the stock its 3rd biggest holding. Canandaigua National Corp’s holdings in Johnson & Johnson were worth $18,549,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in JNJ. CFM Wealth Partners LLC grew its stake in shares of Johnson & Johnson by 10.0% in the second quarter. CFM Wealth Partners LLC now owns 11,485 shares of the company’s stock valued at $2,039,000 after buying an additional 1,042 shares in the last quarter. Cooper Financial Group grew its stake in shares of Johnson & Johnson by 8.5% in the second quarter. Cooper Financial Group now owns 10,291 shares of the company’s stock valued at $1,827,000 after buying an additional 807 shares in the last quarter. Procyon Advisors LLC grew its stake in shares of Johnson & Johnson by 4.1% in the second quarter. Procyon Advisors LLC now owns 32,375 shares of the company’s stock valued at $5,747,000 after buying an additional 1,270 shares in the last quarter. Wedmont Private Capital grew its stake in shares of Johnson & Johnson by 21.5% in the second quarter. Wedmont Private Capital now owns 17,717 shares of the company’s stock valued at $3,145,000 after buying an additional 3,141 shares in the last quarter. Finally, Revolve Wealth Partners LLC boosted its holdings in Johnson & Johnson by 3.4% in the second quarter. Revolve Wealth Partners LLC now owns 7,985 shares of the company’s stock valued at $1,417,000 after purchasing an additional 263 shares during the period. Institutional investors and hedge funds own 68.59% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. UBS Group decreased their target price on Johnson & Johnson from $185.00 to $180.00 in a report on Thursday, July 21st. Daiwa Capital Markets assumed coverage on Johnson & Johnson in a report on Wednesday, June 22nd. They issued an “outperform” rating for the company. Wells Fargo & Company lifted their target price on Johnson & Johnson from $190.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, July 13th. SVB Leerink decreased their target price on Johnson & Johnson from $200.00 to $194.00 in a report on Wednesday, July 20th. Finally, Morgan Stanley decreased their target price on Johnson & Johnson from $174.00 to $173.00 and set an “equal weight” rating for the company in a report on Monday, September 12th. Four 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. According to MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average price target of $189.78.

Johnson & Johnson Stock Down 1.0 %

Shares of NYSE JNJ opened at $163.28 on Thursday. The company has a market capitalization of $429.29 billion, a price-to-earnings ratio of 23.77, a price-to-earnings-growth ratio of 2.97 and a beta of 0.61. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.42 and a quick ratio of 1.17. The business has a 50-day moving average of $168.25 and a two-hundred day moving average of $174.16. Johnson & Johnson has a 1 year low of $155.72 and a 1 year high of $186.69.

Johnson & Johnson (NYSE:JNJGet Rating) last posted its earnings results on Tuesday, July 19th. The company reported $2.59 EPS for the quarter, topping analysts’ consensus estimates of $2.57 by $0.02. Johnson & Johnson had a return on equity of 36.14% and a net margin of 19.21%. The business had revenue of $24.02 billion for the quarter, compared to analysts’ expectations of $23.85 billion. During the same quarter in the previous year, the firm earned $2.48 earnings per share. The business’s revenue was up 3.0% compared to the same quarter last year. On average, analysts forecast that Johnson & Johnson will post 10.7 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Tuesday, August 23rd were given a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend was Monday, August 22nd. Johnson & Johnson’s dividend payout ratio (DPR) is currently 65.79%.

Johnson & Johnson declared that its Board of Directors has initiated a stock buyback plan on Wednesday, September 14th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 1.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

About Johnson & Johnson

(Get Rating)

Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment offers baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.

Further Reading

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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