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

Penobscot Investment Management Company Inc. reduced its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,241 shares of the company’s stock after selling 550 shares during the quarter. Johnson & Johnson accounts for about 1.3% of Penobscot Investment Management Company Inc.’s investment portfolio, making the stock its 21st largest holding. Penobscot Investment Management Company Inc.’s holdings in Johnson & Johnson were worth $11,166,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in JNJ. California Public Employees Retirement System lifted its holdings in Johnson & Johnson by 4.9% during the 4th quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock worth $1,664,620,000 after buying an additional 498,647 shares during the last quarter. Raymond James & Associates raised its position in shares of Johnson & Johnson by 0.4% during the 4th quarter. Raymond James & Associates now owns 6,061,707 shares of the company’s stock valued at $950,112,000 after acquiring an additional 26,982 shares in the last quarter. Ninety One UK Ltd lifted its stake in Johnson & Johnson by 0.3% during the fourth quarter. Ninety One UK Ltd now owns 4,436,013 shares of the company’s stock worth $695,301,000 after purchasing an additional 12,867 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in Johnson & Johnson by 4.8% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 4,396,416 shares of the company’s stock worth $688,198,000 after purchasing an additional 200,193 shares during the period. Finally, Stifel Financial Corp increased its stake in Johnson & Johnson by 2.9% during the third quarter. Stifel Financial Corp now owns 4,306,268 shares of the company’s stock valued at $670,726,000 after purchasing an additional 120,891 shares during the last quarter. Institutional investors own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their price target for the company from $169.00 to $170.00 in a report on Thursday, April 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a report on Monday, April 15th. Royal Bank of Canada cut their price target on Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. Bank of America lowered their price objective on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Finally, StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $175.86.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, major shareholder & Johnson Johnson sold 3,725 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the sale, the insider now directly owns 4,099,575 shares in the company, valued at $105,810,030.75. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, major shareholder & Johnson Johnson sold 3,725 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $25.81, for a total transaction of $96,142.25. Following the completion of the sale, the insider now directly owns 4,099,575 shares in the company, valued at $105,810,030.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jennifer L. Taubert sold 59,397 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $156.27, for a total value of $9,281,969.19. Following the completion of the transaction, the executive vice president now directly owns 141,416 shares in the company, valued at approximately $22,099,078.32. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $149.27 on Friday. The firm has a market capitalization of $359.25 billion, a PE ratio of 9.31, a P/E/G ratio of 2.46 and a beta of 0.55. The company has a quick ratio of 0.91, a current ratio of 1.17 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average price of $154.19 and a 200 day moving average price of $155.02. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $175.97.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The business had revenue of $21.38 billion during the quarter, compared to analysts’ expectations of $21.39 billion. During the same period last year, the firm posted $2.68 earnings per share. The business’s revenue was up 2.3% on a year-over-year basis. On average, sell-side analysts anticipate that Johnson & Johnson will post 10.65 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be issued a $1.24 dividend. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date is Monday, May 20th. This represents a $4.96 annualized dividend and a dividend yield of 3.32%. Johnson & Johnson’s dividend payout ratio is 29.68%.

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.