City Holding Co. Reduces Stock Position in Johnson & Johnson (NYSE:JNJ)

City Holding Co. reduced its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 2.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,011 shares of the company’s stock after selling 622 shares during the quarter. City Holding Co.’s holdings in Johnson & Johnson were worth $3,328,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of JNJ. IFS Advisors LLC lifted its stake in Johnson & Johnson by 138.9% in the 4th quarter. IFS Advisors LLC now owns 172 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Highline Wealth Partners LLC purchased a new stake in Johnson & Johnson in the 3rd quarter worth approximately $31,000. RPg Family Wealth Advisory LLC purchased a new stake in Johnson & Johnson in the 3rd quarter worth approximately $35,000. Mowery & Schoenfeld Wealth Management LLC lifted its stake in Johnson & Johnson by 58.7% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after purchasing an additional 91 shares in the last quarter. Finally, Activest Wealth Management purchased a new stake in Johnson & Johnson in the 3rd quarter worth approximately $40,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on JNJ shares. Guggenheim increased their target price on shares of Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Wells Fargo & Company raised their price objective on shares of Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. StockNews.com cut shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 17th. Citigroup lowered their price objective on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Finally, Royal Bank of Canada raised their price objective on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $173.27.

Johnson & Johnson Price Performance

Shares of Johnson & Johnson stock opened at $148.10 on Wednesday. The firm has a market cap of $356.57 billion, a PE ratio of 21.43, a price-to-earnings-growth ratio of 2.39 and a beta of 0.51. Johnson & Johnson has a 12-month low of $140.68 and a 12-month 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 company’s fifty day simple moving average is $148.35 and its two-hundred day simple moving average is $156.11.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 71.78%.

Insiders Place Their Bets

In other news, Director Mark A. Weinberger purchased 1,000 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were acquired at an average price of $147.22 per share, with a total value of $147,220.00. Following the acquisition, the director now directly owns 1,000 shares in the company, valued at approximately $147,220. The trade was a ? increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.16% of the company’s stock.

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.