Penobscot Investment Management Company Inc. Sells 1,532 Shares of Johnson & Johnson $JNJ

Penobscot Investment Management Company Inc. trimmed its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 2.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 55,731 shares of the company's stock after selling 1,532 shares during the period. Penobscot Investment Management Company Inc.'s holdings in Johnson & Johnson were worth $8,513,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in JNJ. Elios Financial Group Inc. boosted its holdings in Johnson & Johnson by 1.5% in the 1st quarter. Elios Financial Group Inc. now owns 4,496 shares of the company's stock worth $746,000 after buying an additional 66 shares during the period. Atlantic Family Wealth LLC boosted its holdings in shares of Johnson & Johnson by 4.4% in the first quarter. Atlantic Family Wealth LLC now owns 1,603 shares of the company's stock worth $266,000 after acquiring an additional 67 shares during the period. MBA Advisors LLC raised its stake in shares of Johnson & Johnson by 1.2% during the 1st quarter. MBA Advisors LLC now owns 5,553 shares of the company's stock valued at $921,000 after purchasing an additional 68 shares during the period. Nabity Jensen Investment Management Inc boosted its stake in Johnson & Johnson by 1.5% in the 1st quarter. Nabity Jensen Investment Management Inc now owns 4,624 shares of the company's stock worth $767,000 after purchasing an additional 69 shares during the period. Finally, Jackson Grant Investment Advisers Inc. increased its position in shares of Johnson & Johnson by 0.5% during the first quarter. Jackson Grant Investment Advisers Inc. now owns 12,970 shares of the company's stock valued at $2,151,000 after buying an additional 69 shares during the period. Hedge funds and other institutional investors own 69.55% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on JNJ shares. The Goldman Sachs Group boosted their price target on shares of Johnson & Johnson from $185.00 to $186.00 and gave the company a "buy" rating in a research report on Friday, September 19th. Bank of America upped their target price on Johnson & Johnson from $175.00 to $198.00 and gave the stock a "neutral" rating in a research note on Friday. Citigroup lifted their price target on Johnson & Johnson from $185.00 to $200.00 and gave the company a "buy" rating in a research report on Thursday, August 21st. Weiss Ratings restated a "hold (c+)" rating on shares of Johnson & Johnson in a research report on Saturday, September 27th. Finally, Royal Bank Of Canada lifted their target price on shares of Johnson & Johnson from $181.00 to $185.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $188.88.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $188.51 on Monday. The company has a 50-day simple moving average of $176.18 and a two-hundred day simple moving average of $162.83. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $189.78. The firm has a market cap of $453.98 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 2.40 and a beta of 0.40. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.09. The business had revenue of $23.74 billion for the quarter, compared to analysts' expectations of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%.The business's quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.82 EPS. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. On average, equities analysts forecast that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th were given a $1.30 dividend. The ex-dividend date was Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.8%. Johnson & Johnson's payout ratio is presently 55.61%.

Insider Activity at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the completion of the sale, the executive vice president directly owned 178,013 shares in the company, valued at approximately $31,652,491.53. This represents a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.16% of the company's stock.

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.

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