Canandaigua National Bank & Trust Co. Sells 4,709 Shares of Johnson & Johnson $JNJ

Canandaigua National Bank & Trust Co. lessened its holdings in Johnson & Johnson (NYSE:JNJ) by 4.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,977 shares of the company’s stock after selling 4,709 shares during the quarter. Johnson & Johnson makes up approximately 1.5% of Canandaigua National Bank & Trust Co.’s investment portfolio, making the stock its 12th largest position. Canandaigua National Bank & Trust Co.’s holdings in Johnson & Johnson were worth $16,869,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in JNJ. Norges Bank acquired a new position in shares of Johnson & Johnson during the second quarter worth $4,877,174,000. Laurel Wealth Advisors LLC increased its holdings in Johnson & Johnson by 15,040.6% in the second quarter. Laurel Wealth Advisors LLC now owns 7,420,699 shares of the company’s stock valued at $1,133,512,000 after purchasing an additional 7,371,687 shares during the period. Vanguard Group Inc. raised its position in Johnson & Johnson by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 237,047,859 shares of the company’s stock worth $36,209,060,000 after purchasing an additional 3,085,180 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Johnson & Johnson by 159.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,159,260 shares of the company’s stock worth $635,327,000 after buying an additional 2,557,388 shares during the period. Finally, Kingstone Capital Partners Texas LLC bought a new stake in shares of Johnson & Johnson in the 2nd quarter valued at about $401,420,000. 69.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on JNJ. Daiwa Capital Markets raised Johnson & Johnson from a “neutral” rating to an “outperform” rating and set a $203.00 price objective on the stock in a research note on Monday, October 20th. HSBC restated a “buy” rating and issued a $240.00 price target on shares of Johnson & Johnson in a research report on Wednesday, December 10th. Raymond James Financial increased their price objective on shares of Johnson & Johnson from $174.00 to $209.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 15th. Wall Street Zen upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Finally, Loop Capital set a $190.00 price target on shares of Johnson & Johnson in a research report on Wednesday, October 22nd. Four research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $208.85.

Johnson & Johnson Stock Up 0.6%

Shares of NYSE JNJ opened at $210.50 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.50. The firm has a market cap of $507.14 billion, a PE ratio of 20.32, a P/E/G ratio of 2.27 and a beta of 0.36. The company’s fifty day simple moving average is $197.44 and its 200 day simple moving average is $178.46. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $215.18.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. The firm had revenue of $24.02 billion for the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 32.73%. As a group, sell-side analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th were issued a $1.30 dividend. The ex-dividend date was Tuesday, November 25th. This represents a $5.20 annualized dividend and a yield of 2.5%. Johnson & Johnson’s dividend payout ratio is presently 50.19%.

About Johnson & Johnson

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.