Penobscot Investment Management Company Inc. Has $8.78 Million Position in Johnson & Johnson (NYSE:JNJ)

Penobscot Investment Management Company Inc. trimmed its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 9.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of JNJ. Vinva Investment Management Ltd grew its position in shares of Johnson & Johnson by 6.8% during the 3rd quarter. Vinva Investment Management Ltd now owns 111,448 shares of the company's stock worth $17,988,000 after buying an additional 7,110 shares during the period. Financial Counselors Inc. grew its holdings in Johnson & Johnson by 5.3% during the 3rd quarter. Financial Counselors Inc. now owns 185,093 shares of the company's stock worth $29,996,000 after acquiring an additional 9,309 shares during the period. Oregon Pacific Wealth Management LLC bought a new stake in shares of Johnson & Johnson during the 4th quarter valued at $949,000. Horan Securities Inc. lifted its stake in shares of Johnson & Johnson by 1.3% in the 4th quarter. Horan Securities Inc. now owns 7,178 shares of the company's stock valued at $1,038,000 after purchasing an additional 90 shares during the period. Finally, Strategic Financial Concepts LLC boosted its position in shares of Johnson & Johnson by 57.9% in the 4th quarter. Strategic Financial Concepts LLC now owns 3,467 shares of the company's stock worth $501,000 after purchasing an additional 1,271 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company's stock.

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Johnson & Johnson Stock Up 0.4 %

Shares of JNJ traded up $0.69 during mid-day trading on Friday, hitting $163.82. 3,055,357 shares of the company's stock were exchanged, compared to its average volume of 9,055,268. The company has a 50-day simple moving average of $158.35 and a 200 day simple moving average of $156.23. 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 $394.78 billion, a PE ratio of 24.62, a P/E/G ratio of 2.56 and a beta of 0.47. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) 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 analyst estimates of $22.44 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The company's revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.29 EPS. On average, research analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were paid 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 yield of 3.03%. Johnson & Johnson's dividend payout ratio is 74.59%.

Insider Transactions at Johnson & Johnson

In other news, VP Robert J. Decker sold 6,999 shares of the business's stock in a transaction dated 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 transaction, the vice president now directly owns 21,001 shares in the company, valued at $3,483,645.88. The trade was a 25.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy Schmid sold 403 shares of the firm's stock in a transaction dated 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 sale, the executive vice president now owns 15,098 shares of the company's stock, valued at $2,357,552.70. This trade represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.16% of the company's stock.

Wall Street Analysts Forecast Growth

JNJ has been the subject of a number of recent analyst reports. Leerink Partners dropped their price objective on Johnson & Johnson from $182.00 to $169.00 and set an "outperform" rating for the company in a report on Thursday, January 23rd. Bank of America increased their price target on shares of Johnson & Johnson from $159.00 to $171.00 and gave the company a "neutral" rating in a research report on Wednesday, March 5th. Morgan Stanley decreased their price objective on shares of Johnson & Johnson from $175.00 to $163.00 and set an "equal weight" rating for the company in a report on Thursday, January 23rd. Guggenheim reiterated a "neutral" rating on shares of Johnson & Johnson in a report on Monday, March 10th. Finally, Barclays boosted their price target on shares of Johnson & Johnson from $159.00 to $166.00 and gave the company an "equal weight" rating in a report on Tuesday, January 28th. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $171.33.

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.