Johnson & Johnson (NYSE:JNJ) is Chemung Canal Trust Co.'s 6th Largest Position

Chemung Canal Trust Co. lifted its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 22.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,896 shares of the company's stock after buying an additional 14,536 shares during the period. Johnson & Johnson makes up 2.9% of Chemung Canal Trust Co.'s portfolio, making the stock its 6th biggest position. Chemung Canal Trust Co.'s holdings in Johnson & Johnson were worth $13,084,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Lantz Financial LLC boosted its position in Johnson & Johnson by 3.3% in the first quarter. Lantz Financial LLC now owns 11,974 shares of the company's stock worth $1,986,000 after purchasing an additional 377 shares during the last quarter. Sulzberger Capital Advisors Inc. purchased a new position in Johnson & Johnson in the fourth quarter worth about $453,000. Joel Isaacson & Co. LLC boosted its position in Johnson & Johnson by 3.5% in the first quarter. Joel Isaacson & Co. LLC now owns 74,132 shares of the company's stock worth $12,294,000 after purchasing an additional 2,526 shares during the last quarter. State of Wyoming lifted its position in shares of Johnson & Johnson by 205,580.0% during the 4th quarter. State of Wyoming now owns 10,284 shares of the company's stock valued at $1,487,000 after buying an additional 10,279 shares in the last quarter. Finally, Range Financial Group LLC lifted its position in shares of Johnson & Johnson by 18.9% during the 1st quarter. Range Financial Group LLC now owns 15,886 shares of the company's stock valued at $2,635,000 after buying an additional 2,529 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Trading Down 0.6%

Shares of Johnson & Johnson stock traded down $1.01 on Friday, reaching $156.69. The company had a trading volume of 3,703,497 shares, compared to its average volume of 8,043,875. The firm has a market cap of $377.00 billion, a price-to-earnings ratio of 17.43, a P/E/G ratio of 2.36 and a beta of 0.41. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.03. The firm's 50-day moving average price is $153.73 and its two-hundred day moving average price is $154.35. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its earnings results on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, topping analysts' consensus estimates of $2.59 by $0.18. The firm had revenue of $21.89 billion during 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%. As a group, research analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th were issued 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 dividend on an annualized basis and a dividend yield of 3.32%. Johnson & Johnson's payout ratio is 57.84%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on JNJ. Barclays lowered their price objective on Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $181.00 price objective on shares of Johnson & Johnson in a research report on Thursday, June 5th. Leerink Partners cut Johnson & Johnson from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $169.00 to $153.00 in a research report on Tuesday, May 13th. Wall Street Zen raised Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 21st. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Eleven analysts have rated the stock with a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Johnson & Johnson currently has a consensus rating of "Moderate Buy" and a consensus price target of $171.00.

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.