Camden National Bank lessened its stake in Johnson & Johnson (NYSE:JNJ – Free Report) by 1.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,876 shares of the company’s stock after selling 1,353 shares during the quarter. Johnson & Johnson comprises 1.8% of Camden National Bank’s investment portfolio, making the stock its 21st biggest position. Camden National Bank’s holdings in Johnson & Johnson were worth $12,296,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Meridian Financial Partners LLC acquired a new position in Johnson & Johnson during the second quarter worth about $1,626,000. Meridian Investment Counsel Inc. raised its stake in Johnson & Johnson by 19.6% during the third quarter. Meridian Investment Counsel Inc. now owns 22,629 shares of the company’s stock worth $3,667,000 after acquiring an additional 3,710 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Johnson & Johnson by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock worth $2,858,543,000 after acquiring an additional 102,502 shares in the last quarter. Sheaff Brock Investment Advisors LLC raised its stake in Johnson & Johnson by 137.2% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 43,568 shares of the company’s stock worth $7,061,000 after acquiring an additional 25,203 shares in the last quarter. Finally, Lmcg Investments LLC raised its stake in Johnson & Johnson by 32.7% during the third quarter. Lmcg Investments LLC now owns 87,162 shares of the company’s stock worth $14,125,000 after acquiring an additional 21,471 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.
Analyst Ratings Changes
Several analysts have recently weighed in on the company. Wolfe Research assumed coverage on Johnson & Johnson in a report on Friday, November 15th. They set an “outperform” rating and a $190.00 price target on the stock. Guggenheim boosted their price target on Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Citigroup boosted their price target on Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Johnson & Johnson presently has an average rating of “Moderate Buy” and an average price target of $175.94.
Insider Transactions at Johnson & Johnson
In related news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the sale, the vice president now directly owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. This represents a 22.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.16% of the stock is owned by insiders.
Johnson & Johnson Price Performance
Johnson & Johnson stock opened at $155.14 on Friday. The stock has a market capitalization of $373.52 billion, a price-to-earnings ratio of 22.45, a PEG ratio of 2.76 and a beta of 0.53. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85. The stock’s 50 day moving average price is $160.21 and its two-hundred day moving average price is $156.21. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03.
Johnson & Johnson (NYSE:JNJ – Get Free Report) last issued its earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The company had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. During the same period in the prior year, the firm earned $2.66 earnings per share. Johnson & Johnson’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, equities analysts predict that Johnson & Johnson will post 9.93 earnings per share for the current year.
Johnson & Johnson Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s payout ratio is 71.78%.
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.
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