Norway Savings Bank Cuts Stake in Johnson & Johnson (NYSE:JNJ)

Norway Savings Bank lessened its stake in Johnson & Johnson (NYSE:JNJ) by 3.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,712 shares of the company’s stock after selling 573 shares during the quarter. Johnson & Johnson makes up about 1.1% of Norway Savings Bank’s investment portfolio, making the stock its 29th largest position. Norway Savings Bank’s holdings in Johnson & Johnson were worth $2,644,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of JNJ. 4J Wealth Management LLC lifted its stake in Johnson & Johnson by 2.2% during the 4th quarter. 4J Wealth Management LLC now owns 2,835 shares of the company’s stock valued at $444,000 after acquiring an additional 62 shares during the period. My Personal CFO LLC boosted its holdings in Johnson & Johnson by 1.4% in the fourth quarter. My Personal CFO LLC now owns 4,550 shares of the company’s stock valued at $713,000 after purchasing an additional 62 shares during the last quarter. Eagle Strategies LLC grew its position in Johnson & Johnson by 1.8% during the 4th quarter. Eagle Strategies LLC now owns 3,589 shares of the company’s stock worth $563,000 after purchasing an additional 63 shares during the period. Clearview Wealth Advisors LLC lifted its holdings in shares of Johnson & Johnson by 1.5% in the 4th quarter. Clearview Wealth Advisors LLC now owns 4,373 shares of the company’s stock valued at $685,000 after buying an additional 64 shares during the period. Finally, Brookmont Capital Management boosted its stake in shares of Johnson & Johnson by 0.4% in the fourth quarter. Brookmont Capital Management now owns 14,852 shares of the company’s stock worth $2,328,000 after buying an additional 64 shares during the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Up 0.2 %

Shares of NYSE JNJ opened at $146.16 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $148.14 and its two-hundred day moving average is $154.06. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $175.97. The firm has a market cap of $351.76 billion, a price-to-earnings ratio of 9.11, a PEG ratio of 2.43 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.07. The firm had revenue of $21.38 billion for the quarter, compared to analyst estimates of $21.39 billion. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. Johnson & Johnson’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.68 EPS. Research analysts predict that Johnson & Johnson will post 10.62 EPS for the current year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were paid a dividend of $1.24 per share. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend was Monday, May 20th. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on JNJ shares. HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and upped their price objective for the stock from $169.00 to $170.00 in a research report on Thursday, April 18th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research report on Thursday, June 20th. Bank of America dropped their target price on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. The Goldman Sachs Group assumed coverage on Johnson & Johnson in a report on Thursday, May 30th. They issued a “neutral” rating and a $160.00 price target for the company. Finally, Morgan Stanley dropped their price objective on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $174.07.

Johnson & Johnson 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.