Exchange Bank Has $4.18 Million Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Exchange Bank reduced its position in Johnson & Johnson (NYSE:JNJ) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,806 shares of the company’s stock after selling 420 shares during the quarter. Johnson & Johnson accounts for approximately 3.4% of Exchange Bank’s investment portfolio, making the stock its 2nd largest holding. Exchange Bank’s holdings in Johnson & Johnson were worth $4,182,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in shares of Johnson & Johnson during the second quarter valued at about $27,000. MFA Wealth Advisors LLC bought a new position in shares of Johnson & Johnson during the 2nd quarter worth approximately $43,000. Grayhawk Investment Strategies Inc. lifted its position in Johnson & Johnson by 528.6% during the fourth quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock valued at $48,000 after acquiring an additional 259 shares during the last quarter. Fairfield Financial Advisors LTD acquired a new stake in Johnson & Johnson in the second quarter valued at approximately $46,000. Finally, Fairway Wealth LLC grew its holdings in Johnson & Johnson by 217.1% in the second quarter. Fairway Wealth LLC now owns 333 shares of the company’s stock worth $49,000 after purchasing an additional 228 shares during the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $161.46 on Friday. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $168.85. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07. The firm has a market capitalization of $388.58 billion, a P/E ratio of 10.07, a PEG ratio of 2.65 and a beta of 0.52. The stock has a 50-day simple moving average of $162.59 and a two-hundred day simple moving average of $154.48.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. The company had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. Johnson & Johnson’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.80 earnings per share. On average, equities analysts forecast that Johnson & Johnson will post 10 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were issued a $1.24 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a yield of 3.07%. Johnson & Johnson’s payout ratio is 30.92%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. TD Cowen lowered their price objective on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. The Goldman Sachs Group dropped their price target on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Daiwa Capital Markets lowered shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Sanford C. Bernstein boosted their target price on shares of Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Finally, Royal Bank of Canada raised their price target on shares of Johnson & Johnson from $175.00 to $178.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $174.31.

Insider Transactions at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the transaction, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

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.