NBT Bank N A NY Has $19.07 Million Stake in Johnson & Johnson (NYSE:JNJ)

NBT Bank N A NY lowered its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 4.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 114,970 shares of the company's stock after selling 4,801 shares during the quarter. Johnson & Johnson accounts for approximately 1.4% of NBT Bank N A NY's investment portfolio, making the stock its 14th largest position. NBT Bank N A NY's holdings in Johnson & Johnson were worth $19,067,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Johnson & Johnson in the 4th quarter valued at approximately $4,390,037,000. Raymond James Financial Inc. acquired a new stake in Johnson & Johnson during the 4th quarter valued at $1,339,878,000. GAMMA Investing LLC lifted its holdings in shares of Johnson & Johnson by 24,450.4% in the first quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company's stock valued at $1,196,596,000 after purchasing an additional 7,185,977 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Johnson & Johnson by 134.5% in the fourth quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company's stock worth $1,149,536,000 after buying an additional 4,559,147 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Johnson & Johnson by 12.3% during the fourth quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock valued at $4,456,201,000 after buying an additional 3,363,235 shares in the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Leerink Partners downgraded Johnson & Johnson from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $169.00 to $153.00 in a research note on Tuesday, May 13th. Barclays reduced their price target on shares of Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Leerink Partnrs downgraded shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Guggenheim reiterated a "neutral" rating on shares of Johnson & Johnson in a research report on Wednesday, April 2nd. Finally, The Goldman Sachs Group upgraded shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and boosted their price target for the company 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, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $170.88.

Johnson & Johnson Stock Down 1.1%

Shares of NYSE JNJ traded down $1.61 during mid-day trading on Wednesday, reaching $150.77. 8,323,506 shares of the company traded hands, compared to its average volume of 7,959,915. The company's fifty day moving average is $154.03 and its two-hundred day moving average is $153.69. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $169.99. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.26. The stock has a market cap of $362.76 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 2.35 and a beta of 0.42.

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 the consensus estimate of $2.59 by $0.18. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. The firm had revenue of $21.89 billion for the quarter, compared to the consensus estimate of $21.65 billion. On average, analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th were paid a dividend of $1.30 per share. This is an increase from Johnson & Johnson's previous quarterly dividend of $1.24. The ex-dividend date was Tuesday, May 27th. This represents a $5.20 annualized dividend and a yield of 3.45%. Johnson & Johnson's dividend payout ratio is presently 57.84%.

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.