Penobscot Investment Management Company Inc. Has $9.50 Million Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Penobscot Investment Management Company Inc. lowered its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 5.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 57,263 shares of the company's stock after selling 3,467 shares during the quarter. Johnson & Johnson accounts for approximately 0.9% of Penobscot Investment Management Company Inc.'s investment portfolio, making the stock its 28th largest position. Penobscot Investment Management Company Inc.'s holdings in Johnson & Johnson were worth $9,496,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Lantz Financial LLC increased its stake in shares of Johnson & Johnson by 3.3% in the first quarter. Lantz Financial LLC now owns 11,974 shares of the company's stock valued at $1,986,000 after buying an additional 377 shares during the period. Sulzberger Capital Advisors Inc. bought a new stake in Johnson & Johnson in the fourth quarter valued at approximately $453,000. Horan Securities Inc. raised its holdings in Johnson & Johnson by 1.3% during the 4th quarter. Horan Securities Inc. now owns 7,178 shares of the company's stock worth $1,038,000 after purchasing an additional 90 shares during the last quarter. State of Wyoming lifted its position in shares of Johnson & Johnson by 205,580.0% in the 4th quarter. State of Wyoming now owns 10,284 shares of the company's stock worth $1,487,000 after purchasing an additional 10,279 shares during the period. Finally, Range Financial Group LLC boosted its stake in shares of Johnson & Johnson by 18.9% in the 1st quarter. Range Financial Group LLC now owns 15,886 shares of the company's stock valued at $2,635,000 after purchasing an additional 2,529 shares during the last quarter. Institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Up 0.3%

Shares of NYSE JNJ opened at $152.44 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.03. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99. The stock has a market capitalization of $366.78 billion, a P/E ratio of 16.96, a P/E/G ratio of 2.30 and a beta of 0.42. The company has a 50-day moving average price of $153.75 and a 200-day moving average price of $153.71.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.59 by $0.18. The business had revenue of $21.89 billion during the quarter, compared to the consensus estimate of $21.65 billion. Johnson & Johnson had a return on equity of 33.46% and a net margin of 24.42%. On average, equities research analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

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

Analysts Set New Price Targets

JNJ has been the subject of a number of analyst reports. The Goldman Sachs Group raised shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $157.00 to $172.00 in a research note on Wednesday, April 9th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $181.00 target price on shares of Johnson & Johnson in a report on Thursday, June 5th. Leerink Partnrs cut Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Barclays lowered their price objective on shares of Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Finally, Benchmark raised shares of Johnson & Johnson to a "strong-buy" rating in a research note on Thursday, April 24th. Eleven investment 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 data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $170.88.

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.

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