Johnson & Johnson (NYSE:JNJ) Shares Sold by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. lowered its stake in shares of Johnson & Johnson (NYSE:JNJ) by 1.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,180 shares of the company’s stock after selling 833 shares during the quarter. Johnson & Johnson comprises about 1.6% of Penobscot Investment Management Company Inc.’s holdings, making the stock its 14th largest position. Penobscot Investment Management Company Inc.’s holdings in Johnson & Johnson were worth $9,795,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Atlantic Private Wealth LLC acquired a new position in shares of Johnson & Johnson during the 1st quarter valued at about $32,000. 25 LLC purchased a new stake in shares of Johnson & Johnson during the 1st quarter worth about $55,000. Horizons Wealth Management grew its holdings in shares of Johnson & Johnson by 1,730.0% during the 2nd quarter. Horizons Wealth Management now owns 366 shares of the company’s stock worth $61,000 after purchasing an additional 346 shares during the period. Bay Harbor Wealth Management LLC purchased a new stake in shares of Johnson & Johnson during the 2nd quarter worth about $66,000. Finally, Mcmillion Capital Management Inc. purchased a new stake in shares of Johnson & Johnson during the 2nd quarter worth about $103,000. Institutional investors and hedge funds own 68.40% of the company’s stock.

Johnson & Johnson Stock Performance

Johnson & Johnson stock opened at $149.91 on Tuesday. The stock has a market cap of $360.88 billion, a P/E ratio of 11.13, a price-to-earnings-growth ratio of 3.00 and a beta of 0.58. The company has a current ratio of 1.21, a quick ratio of 0.96 and a debt-to-equity ratio of 0.37. The stock has a 50 day moving average of $154.52 and a 200-day moving average of $160.29. Johnson & Johnson has a 52 week low of $144.95 and a 52 week high of $181.04.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, October 17th. The company reported $2.66 EPS for the quarter, beating the consensus estimate of $2.52 by $0.14. The company had revenue of $21.35 billion during the quarter, compared to analysts’ expectations of $21 billion. Johnson & Johnson had a return on equity of 37.14% and a net margin of 36.32%. On average, analysts expect that Johnson & Johnson will post 10.1 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Tuesday, November 21st will be given a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Monday, November 20th. Johnson & Johnson’s dividend payout ratio is currently 35.34%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 26th. Royal Bank of Canada assumed coverage on Johnson & Johnson in a report on Wednesday, October 4th. They set an “outperform” rating and a $178.00 target price for the company. HSBC started coverage on Johnson & Johnson in a report on Wednesday, September 6th. They set a “hold” rating and a $175.00 target price for the company. Morgan Stanley decreased their price target on Johnson & Johnson from $174.00 to $171.00 and set an “equal weight” rating for the company in a report on Wednesday, October 18th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a report on Friday. Eight analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus target price of $169.19.

Johnson & Johnson Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment provides skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR. CI:LABO, NEUTROGENA, and OGX brands; baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; TYLENOL acetaminophen products; SUDAFED cold, flu, and allergy products; BENADRYL and ZYRTEC allergy products; MOTRIN IB ibuprofen products; NICORETTE smoking cessation products; and PEPCID acid reflux products.