Canandaigua National Bank & Trust Co. Has $15.92 Million Stake in Johnson & Johnson (NYSE:JNJ)

Canandaigua National Bank & Trust Co. cut its stake in shares of Johnson & Johnson (NYSE:JNJ) by 0.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 100,658 shares of the company’s stock after selling 944 shares during the quarter. Johnson & Johnson makes up 2.3% of Canandaigua National Bank & Trust Co.’s portfolio, making the stock its 6th largest holding. Canandaigua National Bank & Trust Co.’s holdings in Johnson & Johnson were worth $15,923,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in Johnson & Johnson in the 4th quarter worth approximately $4,071,642,000. Wellington Management Group LLP lifted its position in Johnson & Johnson by 16.4% in the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock worth $3,764,852,000 after purchasing an additional 3,391,657 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Johnson & Johnson by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,945,533 shares of the company’s stock worth $2,483,532,000 after purchasing an additional 241,799 shares during the period. California Public Employees Retirement System lifted its position in Johnson & Johnson by 4.9% in the fourth quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock worth $1,664,620,000 after purchasing an additional 498,647 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Johnson & Johnson by 10.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,169,190 shares of the company’s stock worth $1,593,908,000 after purchasing an additional 975,485 shares during the period. 69.55% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. StockNews.com downgraded Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 10th. The Goldman Sachs Group assumed coverage on Johnson & Johnson in a research report on Thursday, May 30th. They issued a “neutral” rating and a $160.00 target price for the company. Bank of America cut their target price on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Monday, May 6th. Finally, HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and increased their price objective for the company from $169.00 to $170.00 in a research report on Thursday, April 18th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $174.07.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock opened at $145.65 on Wednesday. The stock has a market cap of $350.53 billion, a PE ratio of 9.08, a price-to-earnings-growth ratio of 2.43 and a beta of 0.53. The business has a fifty day simple moving average of $148.13 and a 200-day simple moving average of $154.56. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, topping the consensus estimate of $2.64 by $0.07. The business had revenue of $21.38 billion during the quarter, compared to analysts’ expectations of $21.39 billion. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. Johnson & Johnson’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.68 earnings per share. On average, sell-side analysts anticipate that Johnson & Johnson will post 10.63 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were given a dividend of $1.24 per share. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend was Monday, May 20th. This represents a $4.96 dividend on an annualized basis and a yield of 3.41%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

About Johnson & Johnson

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.