Chemung Canal Trust Co. Sells 3,544 Shares of Johnson & Johnson (NYSE:JNJ)

Chemung Canal Trust Co. lowered its stake in Johnson & Johnson (NYSE:JNJ) by 5.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 64,563 shares of the company’s stock after selling 3,544 shares during the period. Johnson & Johnson makes up 2.1% of Chemung Canal Trust Co.’s holdings, making the stock its 15th biggest holding. Chemung Canal Trust Co.’s holdings in Johnson & Johnson were worth $10,463,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Innealta Capital LLC acquired a new stake in Johnson & Johnson in the second quarter valued at about $27,000. MFA Wealth Advisors LLC acquired a new stake in Johnson & Johnson in the second quarter valued at about $43,000. Vermillion & White Wealth Management Group LLC acquired a new stake in Johnson & Johnson in the fourth quarter valued at about $44,000. Fairfield Financial Advisors LTD acquired a new stake in Johnson & Johnson in the second quarter valued at about $46,000. Finally, Grayhawk Investment Strategies Inc. boosted its stake in Johnson & Johnson by 528.6% in the fourth quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock valued at $48,000 after buying an additional 259 shares in the last quarter. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Trading Down 0.9 %

Shares of Johnson & Johnson stock traded down $1.52 during midday trading on Friday, reaching $158.98. The company had a trading volume of 943,136 shares, compared to its average volume of 7,069,127. The stock has a fifty day moving average price of $162.61 and a 200 day moving average price of $154.30. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85. The firm has a market cap of $382.61 billion, a PE ratio of 9.91, a P/E/G ratio of 2.69 and a beta of 0.53. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $168.85.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. The business had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.80 earnings per share. On average, equities analysts anticipate that Johnson & Johnson will post 10.02 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were issued a $1.24 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a yield of 3.12%. Johnson & Johnson’s payout ratio is currently 30.92%.

Insiders Place Their Bets

In other news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the sale, the vice president now owns 18,973 shares in the company, valued at $3,131,683.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently weighed in on JNJ shares. The Goldman Sachs Group reduced their price objective on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. TD Securities cut their price target on Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price target on shares of Johnson & Johnson in a research note on Friday, September 20th. Daiwa America lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Morgan Stanley lifted their price target on Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $173.21.

Johnson & Johnson 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.