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

Penobscot Investment Management Company Inc. cut its holdings in Johnson & Johnson (NYSE:JNJ) by 9.6% during the fourth quarter, HoldingsChannel reports. The firm owned 60,730 shares of the company’s stock after selling 6,429 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Johnson & Johnson were worth $8,783,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. IFS Advisors LLC raised its stake in Johnson & Johnson by 138.9% during the 4th quarter. IFS Advisors LLC now owns 172 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares during the last quarter. Mountain Hill Investment Partners Corp. acquired a new position in shares of Johnson & Johnson in the fourth quarter valued at approximately $29,000. Bay Harbor Wealth Management LLC purchased a new stake in shares of Johnson & Johnson during the fourth quarter worth approximately $32,000. RPg Family Wealth Advisory LLC purchased a new position in Johnson & Johnson in the 3rd quarter valued at $35,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in Johnson & Johnson in the 4th quarter valued at $38,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Insider Activity at Johnson & Johnson

In related news, EVP Timothy Schmid sold 403 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $156.15, for a total transaction of $62,928.45. Following the completion of the transaction, the executive vice president now owns 15,098 shares of the company’s stock, valued at approximately $2,357,552.70. This represents a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Robert J. Decker sold 6,999 shares of Johnson & Johnson stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the completion of the transaction, the vice president now owns 21,001 shares in the company, valued at approximately $3,483,645.88. This trade represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Argus upgraded shares of Johnson & Johnson to a “strong-buy” rating in a research note on Friday, January 24th. Wells Fargo & Company lowered their price objective on Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Guggenheim reissued a “neutral” rating on shares of Johnson & Johnson in a research note on Monday, March 10th. Bank of America upped their price objective on Johnson & Johnson from $159.00 to $171.00 and gave the stock a “neutral” rating in a report on Wednesday, March 5th. Finally, Raymond James reduced their target price on Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $171.33.

Johnson & Johnson Stock Down 1.3 %

JNJ opened at $161.14 on Wednesday. The firm has a market cap of $388.32 billion, a P/E ratio of 24.23, a PEG ratio of 2.56 and a beta of 0.47. The business’s fifty day simple moving average is $157.70 and its 200 day simple moving average is $156.14. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.05. The business had revenue of $22.52 billion during the quarter, compared to the consensus estimate of $22.44 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.29 earnings per share. As a group, equities research analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend was Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio (DPR) is 74.59%.

Johnson & Johnson Profile

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.