Canandaigua National Bank & Trust Co. Has $14.62 Million Position in Johnson & Johnson $JNJ

Key Points

• Canandaigua National Bank & Trust Co. increased its stake in Johnson & Johnson by 4.8% in the second quarter, bringing its total holdings to $14.62 million, making Johnson & Johnson its 13th largest investment.
• Multiple analysts have raised their price targets for Johnson & Johnson, with UBS setting a new target at $190.00 and Barclays adjusting its target from $165.00 to $176.00.
• Johnson & Johnson reported a quarterly EPS of $2.77, exceeding expectations, and declared a quarterly dividend of $1.30, reflecting a yield of 2.9%.

Canandaigua National Bank & Trust Co. boosted its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 4.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,686 shares of the company's stock after purchasing an additional 4,392 shares during the period. Johnson & Johnson accounts for about 1.4% of Canandaigua National Bank & Trust Co.'s portfolio, making the stock its 13th biggest holding. Canandaigua National Bank & Trust Co.'s holdings in Johnson & Johnson were worth $14,616,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Highline Wealth Partners LLC increased its holdings in Johnson & Johnson by 51.8% in the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock worth $42,000 after purchasing an additional 86 shares in the last quarter. Stone House Investment Management LLC bought a new stake in shares of Johnson & Johnson in the 1st quarter valued at about $47,000. 1248 Management LLC bought a new stake in shares of Johnson & Johnson in the 1st quarter valued at about $48,000. von Borstel & Associates Inc. bought a new stake in shares of Johnson & Johnson in the 1st quarter valued at about $49,000. Finally, Capital A Wealth Management LLC bought a new stake in shares of Johnson & Johnson in the 4th quarter valued at about $50,000. Institutional investors and hedge funds own 69.55% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on JNJ shares. Barclays upped their price target on Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Piper Sandler reiterated an "overweight" rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. UBS Group upped their price target on Johnson & Johnson from $180.00 to $190.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Erste Group Bank upgraded Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Finally, Morgan Stanley raised their target price on Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $176.29.

Johnson & Johnson Trading Down 0.2%

NYSE JNJ opened at $178.10 on Monday. The business has a 50 day simple moving average of $170.81 and a 200 day simple moving average of $161.27. Johnson & Johnson has a one year low of $140.68 and a one year high of $181.16. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. The stock has a market capitalization of $428.93 billion, a P/E ratio of 19.05, a P/E/G ratio of 2.27 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.09. The business had revenue of $23.74 billion for the quarter, compared to analyst estimates of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%.The company's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.82 earnings per share. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. Research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th were issued a $1.30 dividend. The ex-dividend date was Tuesday, August 26th. This represents a $5.20 annualized dividend and a yield of 2.9%. Johnson & Johnson's dividend payout ratio is presently 55.61%.

Insider Transactions at Johnson & Johnson

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $177.81, for a total value of $10,041,108.51. Following the transaction, the executive vice president owned 178,013 shares in the company, valued at approximately $31,652,491.53. This represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.16% of the company's stock.

Johnson & Johnson Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.

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