CNB Bank Boosts Stake in Johnson & Johnson (NYSE:JNJ)

CNB Bank raised its position in Johnson & Johnson (NYSE:JNJFree Report) by 6.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,972 shares of the company’s stock after buying an additional 773 shares during the period. Johnson & Johnson makes up about 1.0% of CNB Bank’s holdings, making the stock its 22nd biggest holding. CNB Bank’s holdings in Johnson & Johnson were worth $2,052,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc acquired a new stake in shares of Johnson & Johnson in the 1st quarter valued at about $31,000. Keener Financial Planning LLC acquired a new stake in shares of Johnson & Johnson in the 4th quarter valued at about $40,000. WFA Asset Management Corp raised its stake in shares of Johnson & Johnson by 61.4% in the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after purchasing an additional 97 shares in the last quarter. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Johnson & Johnson in the 4th quarter valued at about $44,000. Finally, Disciplined Equity Management Inc. acquired a new stake in shares of Johnson & Johnson in the 4th quarter valued at about $45,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Trading Down 0.7 %

Johnson & Johnson stock opened at $145.48 on Tuesday. The company has a 50 day moving average price of $147.92 and a 200 day moving average price of $153.65. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $175.97. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 1.17. The firm has a market capitalization of $350.12 billion, a price-to-earnings ratio of 9.07, a P/E/G ratio of 2.44 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJGet Free Report) last posted its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The firm had revenue of $21.38 billion during the quarter, compared to analyst estimates of $21.39 billion. During the same quarter last year, the business posted $2.68 EPS. The company’s revenue was up 2.3% on a year-over-year basis. Research analysts forecast that Johnson & Johnson will post 10.62 EPS for the current year.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were given a $1.24 dividend. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date was Monday, May 20th. This represents a $4.96 dividend on an annualized basis and a yield of 3.41%. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on JNJ. HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and upped their target price for the company from $169.00 to $170.00 in a research note on Thursday, April 18th. Morgan Stanley dropped their price objective on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 price objective on shares of Johnson & Johnson in a research note on Monday, June 17th. Bank of America dropped their price objective on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday, July 1st. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $174.07.

Check Out Our Latest Research Report on Johnson & Johnson

About Johnson & Johnson

(Free Report)

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.

See Also

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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