Camden National Bank grew its stake in Johnson & Johnson (NYSE:JNJ – Free Report) by 1.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,459 shares of the company’s stock after purchasing an additional 762 shares during the quarter. Johnson & Johnson makes up about 1.9% of Camden National Bank’s holdings, making the stock its 15th largest position. Camden National Bank’s holdings in Johnson & Johnson were worth $9,216,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. GW&K Investment Management LLC purchased a new stake in Johnson & Johnson in the 4th quarter valued at $35,000. Dark Forest Capital Management LP raised its position in Johnson & Johnson by 1,044.4% in the 4th quarter. Dark Forest Capital Management LP now owns 206 shares of the company’s stock valued at $36,000 after buying an additional 188 shares during the last quarter. Ruedi Wealth Management Inc. purchased a new stake in Johnson & Johnson in the 4th quarter valued at $42,000. Kepos Capital LP purchased a new stake in Johnson & Johnson in the 4th quarter valued at $45,000. Finally, VitalStone Financial LLC bought a new position in Johnson & Johnson in the 4th quarter valued at $52,000. 67.57% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
JNJ has been the subject of a number of recent analyst reports. Citigroup initiated coverage on Johnson & Johnson in a research note on Tuesday, May 30th. They issued a “buy” rating and a $185.00 price objective for the company. Raymond James upped their price objective on Johnson & Johnson from $181.00 to $184.00 and gave the company an “outperform” rating in a research note on Monday, July 24th. TheStreet downgraded Johnson & Johnson from a “b” rating to a “c+” rating in a research note on Friday, May 19th. Atlantic Securities upped their price objective on Johnson & Johnson from $167.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, August 4th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday, July 31st. Eight research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Johnson & Johnson has a consensus rating of “Hold” and a consensus price target of $171.80.
Johnson & Johnson Stock Up 1.0 %
Shares of NYSE JNJ opened at $173.85 on Monday. Johnson & Johnson has a 52 week low of $150.11 and a 52 week high of $181.04. The business has a 50-day simple moving average of $164.90 and a two-hundred day simple moving average of $161.14. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 0.44. The company has a market cap of $451.83 billion, a P/E ratio of 35.19, a P/E/G ratio of 2.92 and a beta of 0.54.
Johnson & Johnson (NYSE:JNJ – Get Free Report) last issued its earnings results on Thursday, July 20th. The company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.62 by $0.18. Johnson & Johnson had a return on equity of 36.72% and a net margin of 13.35%. The business had revenue of $25.53 billion during the quarter, compared to the consensus estimate of $24.63 billion. During the same quarter last year, the company earned $2.59 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. Research analysts anticipate that Johnson & Johnson will post 10.75 earnings per share for the current fiscal year.
Johnson & Johnson Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Monday, August 28th will be issued a $1.19 dividend. The ex-dividend date of this dividend is Friday, August 25th. This represents a $4.76 annualized dividend and a dividend yield of 2.74%. Johnson & Johnson’s payout ratio is currently 96.36%.
Insider Buying and Selling at Johnson & Johnson
In other Johnson & Johnson news, insider William Hait sold 14,698 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $172.00, for a total value of $2,528,056.00. Following the sale, the insider now owns 87,747 shares of the company’s stock, valued at approximately $15,092,484. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Johnson & Johnson news, EVP Kathryn E. Wengel sold 12,465 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $160.00, for a total value of $1,994,400.00. Following the sale, the executive vice president now owns 65,934 shares of the company’s stock, valued at approximately $10,549,440. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider William Hait sold 14,698 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $172.00, for a total value of $2,528,056.00. Following the completion of the sale, the insider now directly owns 87,747 shares in the company, valued at approximately $15,092,484. The disclosure for this sale can be found here. Insiders have sold a total of 47,163 shares of company stock valued at $7,928,856 in the last 90 days. Corporate insiders own 0.20% of the company’s stock.
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 Consumer Health segment provides skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR. CI:LABO, NEUTROGENA, and OGX brands; baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; TYLENOL acetaminophen products; SUDAFED cold, flu, and allergy products; BENADRYL and ZYRTEC allergy products; MOTRIN IB ibuprofen products; NICORETTE smoking cessation products; and PEPCID acid reflux products.
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