Johnson & Johnson (NYSE:JNJ) Position Lowered by Bar Harbor Wealth Management

Bar Harbor Wealth Management trimmed its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 2.1% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 225,373 shares of the company's stock after selling 4,839 shares during the quarter. Johnson & Johnson accounts for about 2.5% of Bar Harbor Wealth Management's holdings, making the stock its 6th biggest holding. Bar Harbor Wealth Management's holdings in Johnson & Johnson were worth $37,376,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. WealthTrak Capital Management LLC bought a new stake in Johnson & Johnson during the 4th quarter valued at $26,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Johnson & Johnson during the fourth quarter worth about $29,000. Conquis Financial LLC bought a new stake in shares of Johnson & Johnson in the fourth quarter worth about $33,000. Bernard Wealth Management Corp. purchased a new position in Johnson & Johnson during the 4th quarter valued at about $36,000. Finally, Runnymede Capital Advisors Inc. bought a new position in Johnson & Johnson during the 4th quarter valued at approximately $38,000. 69.55% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on JNJ. Bank of America cut their price objective on Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. The Goldman Sachs Group raised shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $157.00 to $172.00 in a research report on Wednesday, April 9th. Sanford C. Bernstein reissued a "market perform" rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Wall Street Zen downgraded Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Finally, Leerink Partnrs cut Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Eleven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Johnson & Johnson currently has an average rating of "Moderate Buy" and an average target price of $170.88.

Johnson & Johnson Stock Down 1.8%

Johnson & Johnson stock traded down $2.84 during mid-day trading on Tuesday, hitting $152.38. The company had a trading volume of 6,406,138 shares, compared to its average volume of 7,958,458. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $169.99. The company has a market capitalization of $366.65 billion, a PE ratio of 16.95, a price-to-earnings-growth ratio of 2.35 and a beta of 0.42. The stock's 50 day moving average price is $154.03 and its two-hundred day moving average price is $153.69. The company has a current ratio of 1.26, a quick ratio of 1.03 and a debt-to-equity ratio of 0.49.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.59 by $0.18. The company had revenue of $21.89 billion for the quarter, compared to the consensus estimate of $21.65 billion. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th were given a dividend of $1.30 per share. The ex-dividend date was Tuesday, May 27th. This represents a $5.20 annualized dividend and a dividend yield of 3.41%. This is an increase from Johnson & Johnson's previous quarterly dividend of $1.24. Johnson & Johnson's dividend payout ratio (DPR) is 57.84%.

Johnson & Johnson Profile

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.