Bangor Savings Bank Increases Holdings in Johnson & Johnson (NYSE:JNJ)

Bangor Savings Bank grew its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 3.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,933 shares of the company’s stock after buying an additional 776 shares during the period. Johnson & Johnson accounts for about 0.4% of Bangor Savings Bank’s holdings, making the stock its 29th largest holding. Bangor Savings Bank’s holdings in Johnson & Johnson were worth $3,936,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of JNJ. Pathway Financial Advisors LLC lifted its holdings in shares of Johnson & Johnson by 4.3% in the 4th quarter. Pathway Financial Advisors LLC now owns 5,438 shares of the company’s stock valued at $852,000 after purchasing an additional 226 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Johnson & Johnson by 5.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 297,850 shares of the company’s stock valued at $46,685,000 after purchasing an additional 15,490 shares during the last quarter. Drive Wealth Management LLC lifted its holdings in shares of Johnson & Johnson by 4.5% in the 1st quarter. Drive Wealth Management LLC now owns 9,625 shares of the company’s stock valued at $1,523,000 after purchasing an additional 414 shares during the last quarter. Vestmark Advisory Solutions Inc. lifted its holdings in shares of Johnson & Johnson by 12.7% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 19,587 shares of the company’s stock valued at $3,070,000 after purchasing an additional 2,201 shares during the last quarter. Finally, California Public Employees Retirement System lifted its holdings in shares of Johnson & Johnson by 4.9% in the 4th quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock valued at $1,664,620,000 after purchasing an additional 498,647 shares during the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on JNJ shares. Sanford C. Bernstein boosted their target price on Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. TD Securities dropped their price target on Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a research report on Tuesday, July 30th. Daiwa America cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research report on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $173.21.

Johnson & Johnson Stock Performance

NYSE JNJ traded down $2.28 on Tuesday, hitting $157.60. 3,942,925 shares of the company’s stock were exchanged, compared to its average volume of 7,334,020. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85. The firm’s 50-day moving average price is $151.41 and its two-hundred day moving average price is $153.07. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $175.60. The firm has a market cap of $379.29 billion, a price-to-earnings ratio of 9.81, a P/E/G ratio of 2.63 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. The business had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The company’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.80 EPS. On average, research analysts expect that Johnson & Johnson will post 10.07 EPS for the current year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th will be issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend is Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

About Johnson & Johnson

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.