Johnson & Johnson (NYSE:JNJ) Shares Sold by Bar Harbor Wealth Management

Bar Harbor Wealth Management decreased its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 2.1% in the 1st quarter, Holdings Channel reports. The institutional investor owned 225,373 shares of the company’s stock after selling 4,839 shares during the period. Johnson & Johnson accounts for about 2.5% of Bar Harbor Wealth Management’s portfolio, making the stock its 6th biggest position. Bar Harbor Wealth Management’s holdings in Johnson & Johnson were worth $37,376,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Twin Peaks Wealth Advisors LLC acquired a new position in Johnson & Johnson during the first quarter valued at approximately $264,000. Schoolcraft Capital LLC acquired a new position in Johnson & Johnson during the first quarter valued at approximately $246,000. Lynch Asset Management Inc. grew its holdings in Johnson & Johnson by 2.8% during the first quarter. Lynch Asset Management Inc. now owns 11,050 shares of the company’s stock valued at $1,833,000 after purchasing an additional 300 shares during the period. Smithbridge Asset Management Inc. DE acquired a new position in Johnson & Johnson during the first quarter valued at approximately $6,846,000. Finally, Osprey Private Wealth LLC grew its holdings in Johnson & Johnson by 39.9% during the first quarter. Osprey Private Wealth LLC now owns 25,047 shares of the company’s stock valued at $4,154,000 after purchasing an additional 7,145 shares during the period. Institutional investors and hedge funds own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

JNJ has been the subject of a number of analyst reports. Benchmark upgraded shares of Johnson & Johnson to a “strong-buy” rating in a report on Thursday, April 24th. Morgan Stanley lifted their price target on shares of Johnson & Johnson from $164.00 to $169.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 16th. Raymond James cut their price target on shares of Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Bank of America cut their price target on shares of Johnson & Johnson from $171.00 to $159.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. Finally, The Goldman Sachs Group raised shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and lifted their price target for the company from $157.00 to $172.00 in a research note on Wednesday, April 9th. Eleven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and a consensus price target of $170.88.

Johnson & Johnson Trading Up 0.2%

JNJ stock opened at $156.90 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11. The company’s 50-day simple moving average is $153.84 and its 200 day simple moving average is $153.72. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99. The company has a market capitalization of $377.52 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 2.56 and a beta of 0.42.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.59 by $0.18. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The business had revenue of $21.89 billion for the quarter, compared to the consensus estimate of $21.65 billion. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 3.31%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.24. The ex-dividend date was Tuesday, May 27th. Johnson & Johnson’s dividend payout ratio is presently 57.84%.

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.