Ipswich Investment Management Co. Inc. Sells 2,374 Shares of Johnson & Johnson (NYSE:JNJ)

Ipswich Investment Management Co. Inc. lowered its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 5.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 39,926 shares of the company's stock after selling 2,374 shares during the quarter. Johnson & Johnson accounts for about 1.6% of Ipswich Investment Management Co. Inc.'s investment portfolio, making the stock its 18th largest position. Ipswich Investment Management Co. Inc.'s holdings in Johnson & Johnson were worth $6,621,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in JNJ. WealthTrak Capital Management LLC acquired a new stake in shares of Johnson & Johnson during the 4th quarter worth approximately $26,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Johnson & Johnson during the 4th quarter worth approximately $29,000. Conquis Financial LLC acquired a new stake in shares of Johnson & Johnson during the 4th quarter worth approximately $33,000. Bernard Wealth Management Corp. bought a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $36,000. Finally, Runnymede Capital Advisors Inc. bought a new position in Johnson & Johnson in the 4th quarter valued at $38,000. Institutional investors and hedge funds own 69.55% of the company's stock.

Johnson & Johnson Stock Up 0.2%

JNJ traded up $0.24 on Friday, hitting $156.90. The company had a trading volume of 6,587,488 shares, compared to its average volume of 7,963,253. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.11 and a quick ratio of 0.86. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $169.99. The stock has a fifty day simple moving average of $153.84 and a 200-day simple moving average of $153.71. The firm has a market capitalization of $377.52 billion, a P/E ratio of 23.59, a P/E/G ratio of 2.56 and a beta of 0.42.

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

Johnson & Johnson Increases Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Raymond James dropped their target price on Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Leerink Partners cut Johnson & Johnson from an "outperform" rating to a "market perform" rating and decreased their target price for the company from $169.00 to $153.00 in a research note on Tuesday, May 13th. Morgan Stanley boosted their target price on Johnson & Johnson from $164.00 to $169.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 16th. Royal Bank of Canada reissued an "outperform" rating and issued a $181.00 target price on shares of Johnson & Johnson in a research note on Thursday, June 5th. Finally, Guggenheim reissued a "neutral" rating on shares of Johnson & Johnson in a research note on Wednesday, April 2nd. Eleven investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $170.88.

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.