Johnson & Johnson (NYSE:JNJ) is Adirondack Trust Co.’s 10th Largest Position

Adirondack Trust Co. cut its position in shares of Johnson & Johnson (NYSE:JNJ) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,458 shares of the company’s stock after selling 889 shares during the period. Johnson & Johnson makes up about 1.8% of Adirondack Trust Co.’s portfolio, making the stock its 10th biggest holding. Adirondack Trust Co.’s holdings in Johnson & Johnson were worth $4,108,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in JNJ. Norges Bank bought a new stake in shares of Johnson & Johnson during the 4th quarter worth approximately $4,071,642,000. Wellington Management Group LLP increased its holdings in shares of Johnson & Johnson by 16.4% in the 4th quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after acquiring an additional 3,391,657 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Johnson & Johnson by 1.5% in the 4th 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 in the last quarter. California Public Employees Retirement System boosted its position in shares of Johnson & Johnson by 4.9% in the 4th 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 in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Johnson & Johnson by 10.6% in the 4th 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 in the last quarter. 69.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research note on Monday, May 6th. StockNews.com cut Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Monday, June 10th. HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and increased their price target for the company from $169.00 to $170.00 in a report on Thursday, April 18th. The Goldman Sachs Group began coverage on Johnson & Johnson in a research note on Thursday, May 30th. They set a “neutral” rating and a $160.00 target price for the company. Finally, Morgan Stanley lowered their price target on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Johnson & Johnson presently has an average rating of “Hold” and a consensus target price of $174.07.

Johnson & Johnson Stock Down 0.2 %

Johnson & Johnson stock opened at $145.65 on Wednesday. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $175.97. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94. The stock has a market cap of $350.53 billion, a PE ratio of 9.08, a P/E/G ratio of 2.43 and a beta of 0.53. The stock’s fifty day moving average is $148.13 and its two-hundred day moving average is $154.56.

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

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were given a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 3.41%. The ex-dividend date was Monday, May 20th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s payout ratio is 30.92%.

Johnson & Johnson Company Profile

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.