Chemung Canal Trust Co. Increases Stake in Johnson & Johnson (NYSE:JNJ)

Chemung Canal Trust Co. increased its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 22.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 78,896 shares of the company's stock after purchasing an additional 14,536 shares during the quarter. Johnson & Johnson accounts for about 2.9% of Chemung Canal Trust Co.'s investment portfolio, making the stock its 6th largest holding. Chemung Canal Trust Co.'s holdings in Johnson & Johnson were worth $13,084,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. WealthTrak Capital Management LLC bought a new stake in Johnson & Johnson in the fourth quarter valued at $26,000. Mountain Hill Investment Partners Corp. bought a new stake in Johnson & Johnson in the fourth quarter valued at $29,000. Conquis Financial LLC bought a new stake in Johnson & Johnson in the fourth quarter valued at $33,000. Bernard Wealth Management Corp. bought a new stake in Johnson & Johnson in the fourth quarter valued at $36,000. Finally, Highline Wealth Partners LLC raised its stake in shares of Johnson & Johnson by 51.8% during the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock valued at $42,000 after purchasing an additional 86 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on JNJ shares. Sanford C. Bernstein restated a "market perform" rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Barclays cut their price objective on shares of Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. Raymond James Financial cut their price objective on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Bank of America dropped their price target on shares of Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $181.00 price target on shares of Johnson & Johnson in a research report on Thursday, June 5th. Eleven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Johnson & Johnson presently has a consensus rating of "Moderate Buy" and an average price target of $170.88.

Johnson & Johnson Price Performance

NYSE JNJ opened at $156.07 on Thursday. The company has a current ratio of 1.26, a quick ratio of 1.03 and a debt-to-equity ratio of 0.49. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99. The stock's 50-day moving average price is $153.67 and its two-hundred day moving average price is $154.27. The company has a market cap of $375.52 billion, a PE ratio of 17.36, a PEG ratio of 2.36 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.18. The company had revenue of $21.89 billion for the quarter, compared to analysts' expectations of $21.65 billion. Johnson & Johnson had a return on equity of 33.46% and a net margin of 24.42%. On average, analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th were paid a $1.30 dividend. This is a boost from Johnson & Johnson's previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $5.20 annualized dividend and a dividend yield of 3.33%. Johnson & Johnson's payout ratio is presently 57.84%.

Johnson & Johnson Company 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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