CNB Bank Sells 155 Shares of Johnson & Johnson (NYSE:JNJ)

CNB Bank lessened its stake in shares of Johnson & Johnson (NYSE:JNJ) by 1.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,199 shares of the company’s stock after selling 155 shares during the quarter. Johnson & Johnson accounts for about 1.0% of CNB Bank’s investment portfolio, making the stock its 23rd largest position. CNB Bank’s holdings in Johnson & Johnson were worth $1,912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also modified their holdings of JNJ. International Assets Investment Management LLC raised its position in Johnson & Johnson by 7,875.8% in the 4th quarter. International Assets Investment Management LLC now owns 2,090,384 shares of the company’s stock valued at $327,647,000 after purchasing an additional 2,064,175 shares during the last quarter. LSV Asset Management raised its position in Johnson & Johnson by 89.9% in the 3rd quarter. LSV Asset Management now owns 2,251,770 shares of the company’s stock valued at $350,713,000 after purchasing an additional 1,065,880 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its position in Johnson & Johnson by 2,264.8% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 822,725 shares of the company’s stock valued at $128,139,000 after purchasing an additional 787,934 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Johnson & Johnson by 22.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 3,957,429 shares of the company’s stock valued at $616,370,000 after purchasing an additional 719,472 shares during the last quarter. Finally, Cerity Partners LLC raised its position in Johnson & Johnson by 75.7% in the 4th quarter. Cerity Partners LLC now owns 1,599,219 shares of the company’s stock valued at $250,662,000 after purchasing an additional 688,955 shares during the last quarter. Institutional investors own 69.55% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Jennifer L. Taubert sold 59,397 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the completion of the transaction, the executive vice president now directly owns 141,416 shares of the company’s stock, valued at $22,099,078.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.81, for a total transaction of $96,142.25. Following the completion of the transaction, the insider now directly owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jennifer L. Taubert sold 59,397 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $156.27, for a total value of $9,281,969.19. Following the transaction, the executive vice president now directly owns 141,416 shares of the company’s stock, valued at $22,099,078.32. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Performance

JNJ stock opened at $146.82 on Friday. The business’s 50-day moving average price is $155.47 and its two-hundred day moving average price is $155.41. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.38. The firm has a market cap of $353.80 billion, a PE ratio of 9.15, a P/E/G ratio of 2.45 and a beta of 0.53. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $175.97.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.07. The firm had revenue of $21.38 billion for the quarter, compared to analyst estimates of $21.39 billion. Johnson & Johnson had a return on equity of 36.43% and a net margin of 45.26%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.68 earnings per share. As a group, research analysts forecast that Johnson & Johnson will post 10.65 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st will be issued a dividend of $1.24 per share. The ex-dividend date of this dividend is Monday, May 20th. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a yield of 3.38%. Johnson & Johnson’s payout ratio is currently 29.68%.

Analysts Set New Price Targets

Several brokerages have issued reports on JNJ. Raymond James lifted their price objective on Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, January 3rd. HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their target price for the company from $169.00 to $170.00 in a research note on Thursday, April 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Monday, April 15th. Morgan Stanley lowered their target price on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Finally, Royal Bank of Canada lowered their target price on Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, April 17th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.86.

Johnson & Johnson Company Profile

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.