Chemung Canal Trust Co. Has $12.07 Million Position in Johnson & Johnson $JNJ

Chemung Canal Trust Co. lifted its stake in Johnson & Johnson (NYSE:JNJ) by 0.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 79,008 shares of the company’s stock after acquiring an additional 112 shares during the period. Johnson & Johnson makes up 2.5% of Chemung Canal Trust Co.’s portfolio, making the stock its 8th largest holding. Chemung Canal Trust Co.’s holdings in Johnson & Johnson were worth $12,069,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of JNJ. Vanguard Group Inc. raised its position in shares of Johnson & Johnson by 0.5% during the first quarter. Vanguard Group Inc. now owns 233,962,679 shares of the company’s stock valued at $38,800,371,000 after buying an additional 1,170,120 shares during the last quarter. Northern Trust Corp increased its stake in Johnson & Johnson by 0.4% during the first quarter. Northern Trust Corp now owns 30,943,820 shares of the company’s stock valued at $5,131,723,000 after acquiring an additional 130,645 shares during the period. Bank of New York Mellon Corp raised its holdings in Johnson & Johnson by 26.4% in the 1st quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company’s stock valued at $3,844,580,000 after acquiring an additional 4,842,582 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Johnson & Johnson by 3.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,899,263 shares of the company’s stock worth $3,133,602,000 after acquiring an additional 712,181 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Johnson & Johnson by 2.5% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 18,282,410 shares of the company’s stock worth $3,031,955,000 after purchasing an additional 448,666 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $177.81, for a total value of $10,041,108.51. Following the completion of the transaction, the executive vice president directly owned 178,013 shares of the company’s stock, valued at $31,652,491.53. The trade was a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on JNJ. Morgan Stanley raised their target price on Johnson & Johnson from $171.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 17th. Citigroup raised their price objective on shares of Johnson & Johnson from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, August 21st. Royal Bank Of Canada upped their target price on shares of Johnson & Johnson from $181.00 to $185.00 and gave the company an “outperform” rating in a research note on Thursday, July 17th. JPMorgan Chase & Co. increased their price target on shares of Johnson & Johnson from $185.00 to $200.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 16th. Finally, Wells Fargo & Company set a $212.00 price objective on Johnson & Johnson and gave the company an “overweight” rating in a report on Friday. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $189.12.

Johnson & Johnson Trading Down 0.2%

Shares of JNJ stock opened at $188.23 on Tuesday. The company has a market capitalization of $453.32 billion, a P/E ratio of 20.13, a P/E/G ratio of 2.40 and a beta of 0.40. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $189.92. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average price of $176.62 and a 200 day moving average price of $163.00.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.09. The company had revenue of $23.74 billion during the quarter, compared to analyst estimates of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The company’s revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $2.82 earnings per share. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. Research analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th were paid a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a yield of 2.8%. Johnson & Johnson’s payout ratio is currently 55.61%.

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.