Ledyard National Bank Sells 2,170 Shares of Johnson & Johnson (NYSE:JNJ)

Ledyard National Bank lessened its stake in shares of Johnson & Johnson (NYSE:JNJ) by 4.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 52,013 shares of the company’s stock after selling 2,170 shares during the quarter. Ledyard National Bank’s holdings in Johnson & Johnson were worth $7,522,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. AMF Tjanstepension AB lifted its holdings in shares of Johnson & Johnson by 14.2% during the third quarter. AMF Tjanstepension AB now owns 425,261 shares of the company’s stock worth $68,985,000 after buying an additional 52,997 shares in the last quarter. Alpha Financial Partners LLC bought a new position in Johnson & Johnson during the third quarter worth about $209,000. Wealth Group Ltd. acquired a new stake in Johnson & Johnson in the 3rd quarter worth about $213,000. Brown Miller Wealth Management LLC grew its position in shares of Johnson & Johnson by 2.3% during the 3rd quarter. Brown Miller Wealth Management LLC now owns 19,673 shares of the company’s stock worth $3,188,000 after purchasing an additional 436 shares in the last quarter. Finally, Mechanics Bank Trust Department increased its holdings in shares of Johnson & Johnson by 0.5% during the third quarter. Mechanics Bank Trust Department now owns 57,568 shares of the company’s stock worth $9,329,000 after purchasing an additional 272 shares during the period. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

Shares of JNJ opened at $153.10 on Monday. The business has a 50-day simple moving average of $147.42 and a two-hundred day simple moving average of $156.08. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $168.85. The stock has a market cap of $368.61 billion, a PE ratio of 23.02, a PEG ratio of 2.46 and a beta of 0.52. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.05. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.35%. The business had revenue of $22.52 billion during the quarter, compared to analyst estimates of $22.44 billion. During the same quarter last year, the business earned $2.29 EPS. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. Analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio is currently 74.59%.

Insiders Place Their Bets

In related news, Director Mark A. Weinberger acquired 1,000 shares of the stock in a transaction dated Thursday, December 12th. The stock was bought at an average cost of $147.22 per share, for a total transaction of $147,220.00. Following the completion of the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at $147,220. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on JNJ shares. Argus raised Johnson & Johnson to a “strong-buy” rating in a research report on Friday, January 24th. 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 report on Thursday, January 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $181.00 price objective on shares of Johnson & Johnson in a research report on Thursday, January 23rd. Stifel Nicolaus decreased their target price on shares of Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Wednesday, October 16th. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $170.67.

About Johnson & Johnson

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.