Farmers Trust Co Lowers stake in Johnson & Johnson (JNJ)

Johnson & Johnson (JNJ) : Farmers Trust Co reduced its stake in Johnson & Johnson by 1.11% during the most recent quarter end. The investment management company now holds a total of 85,127 shares of Johnson & Johnson which is valued at $10,007,530 after selling 955 shares in Johnson & Johnson , the firm said in a disclosure report filed with the SEC on Oct 17, 2016.Johnson & Johnson makes up approximately 3.50% of Farmers Trust Co’s portfolio.

Other Hedge Funds, Including , Jolley Asset Management reduced its stake in JNJ by selling 26,081 shares or 95.5% in the most recent quarter. The Hedge Fund company now holds 1,230 shares of JNJ which is valued at $144,599. Johnson & Johnson makes up approx 0.12% of Jolley Asset Management’s portfolio.Elite Wealth Management reduced its stake in JNJ by selling 1,363 shares or 12.53% in the most recent quarter. The Hedge Fund company now holds 9,516 shares of JNJ which is valued at $1,118,701. Johnson & Johnson makes up approx 1.64% of Elite Wealth Management’s portfolio.Thompson Rubinstein Investment Management Inc Or reduced its stake in JNJ by selling 1,245 shares or 1.63% in the most recent quarter. The Hedge Fund company now holds 75,284 shares of JNJ which is valued at $9,019,023. Johnson & Johnson makes up approx 3.44% of Thompson Rubinstein Investment Management Inc Or’s portfolio.Cacti Asset Management boosted its stake in JNJ in the latest quarter, The investment management firm added 4,455 additional shares and now holds a total of 264,411 shares of Johnson & Johnson which is valued at $31,512,503. Johnson & Johnson makes up approx 3.21% of Cacti Asset Management’s portfolio.Cullinan Associates Inc reduced its stake in JNJ by selling 5,237 shares or 3.33% in the most recent quarter. The Hedge Fund company now holds 152,070 shares of JNJ which is valued at $18,123,703. Johnson & Johnson makes up approx 1.56% of Cullinan Associates Inc’s portfolio.

Johnson & Johnson closed down -0.7 points or -0.59% at $117.56 with 56,40,519 shares getting traded on Friday. Post opening the session at $118.5, the shares hit an intraday low of $117.56 and an intraday high of $118.8 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Johnson & Johnson reported $1.68 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Oct 18, 2016. Analyst had a consensus of $1.66. The company had revenue of $17820.00 million for the quarter, compared to analysts expectations of $17744.90 million. The company’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.49 EPS.

Many Wall Street Analysts have commented on Johnson & Johnson. Company shares were Reiterated by UBS on Jul 20, 2016 to “Buy”, Firm has raised the Price Target to $ 137 from a previous price target of $126 .Company shares were Reiterated by RBC Capital Mkts on Jul 20, 2016 to “Outperform”, Firm has raised the Price Target to $ 133 from a previous price target of $125 .

Johnson & Johnson is a holding company. The Company is engaged in the research and development manufacture and sale of a range of products in the health care field. The Company has more than 265 operating companies conducting business around the world. The Company’s primary focus is products related to human health and well-being. The Company is organized into three business segments: Consumer Pharmaceutical and Medical Devices. The Company’s subsidiaries operate 134 manufacturing facilities occupying approximately 21.5 million square feet of floor space. The Company’s research facilities are located in the United States Belgium Brazil Canada China France Germany India Israel Japan the Netherlands Singapore Switzerland and the United Kingdom.

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