Ledyard National Bank Reduces Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Ledyard National Bank lessened its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 4.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 49,794 shares of the company's stock after selling 2,219 shares during the quarter. Ledyard National Bank's holdings in Johnson & Johnson were worth $8,258,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Keudell Morrison Wealth Management grew its holdings in shares of Johnson & Johnson by 0.7% in the 1st quarter. Keudell Morrison Wealth Management now owns 10,781 shares of the company's stock valued at $1,788,000 after buying an additional 76 shares during the period. WoodTrust Financial Corp grew its stake in Johnson & Johnson by 14.7% in the first quarter. WoodTrust Financial Corp now owns 108,830 shares of the company's stock valued at $18,048,000 after acquiring an additional 13,948 shares during the period. Spirepoint Private Client LLC increased its holdings in shares of Johnson & Johnson by 3.8% in the first quarter. Spirepoint Private Client LLC now owns 100,827 shares of the company's stock worth $16,721,000 after acquiring an additional 3,711 shares in the last quarter. Consolidated Portfolio Review Corp raised its position in shares of Johnson & Johnson by 5.5% during the first quarter. Consolidated Portfolio Review Corp now owns 17,464 shares of the company's stock worth $2,896,000 after purchasing an additional 912 shares during the period. Finally, Palisade Asset Management LLC lifted its holdings in shares of Johnson & Johnson by 0.8% during the 1st quarter. Palisade Asset Management LLC now owns 105,875 shares of the company's stock valued at $17,558,000 after purchasing an additional 864 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on JNJ shares. Guggenheim restated a "neutral" rating on shares of Johnson & Johnson in a report on Wednesday, April 2nd. Royal Bank Of Canada restated an "outperform" rating and issued a $181.00 target price on shares of Johnson & Johnson in a research note on Thursday, June 5th. Leerink Partners cut shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $169.00 to $153.00 in a research note on Tuesday, May 13th. Wall Street Zen raised shares of Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 21st. Finally, Morgan Stanley boosted their price target on Johnson & Johnson from $164.00 to $169.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 16th. Eleven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $170.88.

Johnson & Johnson Stock Down 0.0%

JNJ traded down $0.03 during mid-day trading on Thursday, reaching $152.25. 7,147,500 shares of the stock were exchanged, compared to its average volume of 9,171,523. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.26. The stock has a market capitalization of $366.33 billion, a PE ratio of 16.94, a price-to-earnings-growth ratio of 2.31 and a beta of 0.42. The company has a 50 day moving average price of $153.95 and a two-hundred day moving average price of $153.67.

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

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th were given a dividend of $1.30 per share. The ex-dividend date was Tuesday, May 27th. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.24. This represents a $5.20 annualized dividend and a dividend yield of 3.42%. Johnson & Johnson's dividend payout ratio (DPR) is currently 57.84%.

Johnson & Johnson Company 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.