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

Penobscot Investment Management Company Inc. decreased its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 9.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,730 shares of the company’s stock after selling 6,429 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Johnson & Johnson were worth $8,783,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. IFS Advisors LLC grew its holdings in Johnson & Johnson by 138.9% in the 4th quarter. IFS Advisors LLC now owns 172 shares of the company’s stock valued at $25,000 after buying an additional 100 shares in the last quarter. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Johnson & Johnson in the fourth quarter valued at about $29,000. RPg Family Wealth Advisory LLC acquired a new stake in Johnson & Johnson during the third quarter worth about $35,000. Bay Harbor Wealth Management LLC acquired a new position in Johnson & Johnson in the 4th quarter valued at about $32,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in shares of Johnson & Johnson in the 4th quarter valued at approximately $38,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $181.00 price objective on shares of Johnson & Johnson in a report on Wednesday, February 19th. Wells Fargo & Company decreased their price target on Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Leerink Partners reduced their price objective on shares of Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Raymond James lowered their target price on shares of Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Finally, Citigroup reduced their price target on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $171.33.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $161.14 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.11 and a quick ratio of 0.86. The company has a market cap of $388.32 billion, a price-to-earnings ratio of 24.23, a price-to-earnings-growth ratio of 2.56 and a beta of 0.47. The stock’s 50-day moving average is $157.70 and its two-hundred day moving average is $156.14. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $169.99.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.05. The firm had revenue of $22.52 billion for the quarter, compared to analysts’ expectations of $22.44 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.29 earnings per share. Analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

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 $1.24 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.08%. Johnson & Johnson’s payout ratio is currently 74.59%.

Insider Transactions at Johnson & Johnson

In other Johnson & Johnson news, EVP Timothy Schmid sold 403 shares of the firm’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 sale, the executive vice president now owns 15,098 shares of the company’s stock, valued at approximately $2,357,552.70. This trade represents a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert J. Decker sold 6,999 shares of the company’s 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 of the company’s stock, valued at approximately $3,483,645.88. The trade was a 25.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Company 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.