Canandaigua National Bank & Trust Co. Trims Position in Johnson & Johnson (NYSE:JNJ)

Canandaigua National Bank & Trust Co. cut its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 6.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 91,294 shares of the company's stock after selling 6,683 shares during the quarter. Johnson & Johnson comprises approximately 1.5% of Canandaigua National Bank & Trust Co.'s holdings, making the stock its 11th largest holding. Canandaigua National Bank & Trust Co.'s holdings in Johnson & Johnson were worth $15,140,000 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 the company. Vanguard Group Inc. grew its stake in Johnson & Johnson by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 232,792,559 shares of the company's stock worth $33,666,460,000 after acquiring an additional 1,772,706 shares in the last quarter. Geode Capital Management LLC grew its stake in Johnson & Johnson by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 57,667,920 shares of the company's stock worth $8,321,881,000 after purchasing an additional 1,561,036 shares in the last quarter. Northern Trust Corp increased its holdings in Johnson & Johnson by 12.3% during the 4th quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock worth $4,456,201,000 after purchasing an additional 3,363,235 shares during the period. Norges Bank bought a new stake in Johnson & Johnson during the 4th quarter valued at $4,390,037,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Johnson & Johnson by 1.8% in the 4th quarter. Wellington Management Group LLP now owns 24,356,572 shares of the company's stock worth $3,522,447,000 after buying an additional 431,205 shares during the period. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Up 0.2%

NYSE JNJ traded up $0.34 during trading on Thursday, hitting $155.90. The company's stock had a trading volume of 3,482,521 shares, compared to its average volume of 8,047,072. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $169.99. The company has a market cap of $375.11 billion, a PE ratio of 17.34, a P/E/G ratio of 2.35 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 business's 50 day simple moving average is $153.63 and its 200-day simple moving average is $153.88.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released 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. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. The company had revenue of $21.89 billion during the quarter, compared to analysts' expectations of $21.65 billion. On average, equities analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 3.34%. This is an increase from Johnson & Johnson's previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Tuesday, May 27th. Johnson & Johnson's dividend payout ratio is presently 57.84%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Morgan Stanley lifted their price objective on Johnson & Johnson from $164.00 to $169.00 and gave the company an "equal weight" rating in a report on Wednesday, April 16th. Wall Street Zen raised shares of Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 21st. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Guggenheim reissued a "neutral" rating on shares of Johnson & Johnson in a report on Wednesday, April 2nd. Finally, The Goldman Sachs Group upgraded Johnson & Johnson from a "neutral" rating to a "buy" rating and upped their target price for the stock from $157.00 to $172.00 in a report on Wednesday, April 9th. Eleven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $170.88.

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.