CNB Bank Trims Stock Position in Johnson & Johnson (NYSE:JNJ)

CNB Bank cut its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 6.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,368 shares of the company’s stock after selling 530 shares during the quarter. CNB Bank’s holdings in Johnson & Johnson were worth $1,066,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Summit Wealth Partners LLC raised its stake in shares of Johnson & Johnson by 0.6% during the second quarter. Summit Wealth Partners LLC now owns 10,007 shares of the company’s stock valued at $1,463,000 after acquiring an additional 61 shares during the last quarter. Powers Advisory Group LLC raised its stake in shares of Johnson & Johnson by 0.6% during the third quarter. Powers Advisory Group LLC now owns 9,489 shares of the company’s stock valued at $1,538,000 after acquiring an additional 61 shares during the last quarter. Eagle Wealth Strategies LLC raised its stake in shares of Johnson & Johnson by 2.8% during the third quarter. Eagle Wealth Strategies LLC now owns 2,294 shares of the company’s stock valued at $372,000 after acquiring an additional 63 shares during the last quarter. Knuff & Co LLC raised its stake in shares of Johnson & Johnson by 0.7% during the third quarter. Knuff & Co LLC now owns 9,466 shares of the company’s stock valued at $1,534,000 after acquiring an additional 64 shares during the last quarter. Finally, Perkins Coie Trust Co raised its stake in shares of Johnson & Johnson by 1.8% during the third quarter. Perkins Coie Trust Co now owns 3,705 shares of the company’s stock valued at $600,000 after acquiring an additional 65 shares during the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Mark A. Weinberger bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were bought at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the completion of the acquisition, the director now owns 1,000 shares of the company’s stock, valued at $147,220. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Trading Down 0.5 %

NYSE:JNJ opened at $147.03 on Friday. The company’s 50 day moving average price is $148.51 and its 200-day moving average price is $155.96. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $168.85. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. The stock has a market cap of $353.99 billion, a price-to-earnings ratio of 21.28, a PEG ratio of 2.30 and a beta of 0.51.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend is Tuesday, February 18th. Johnson & Johnson’s payout ratio is 71.78%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Bank of America decreased their price target on shares of Johnson & Johnson from $166.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Wells Fargo & Company increased their price target on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Royal Bank of Canada increased their price target on shares of Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley increased their price target on shares of Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $174.29.

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.