Rockland Trust Co. Sells 2,649 Shares of Johnson & Johnson (NYSE:JNJ)

Rockland Trust Co. lessened its stake in Johnson & Johnson (NYSE:JNJ) by 2.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 107,539 shares of the company’s stock after selling 2,649 shares during the quarter. Rockland Trust Co.’s holdings in Johnson & Johnson were worth $17,834,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Farrell Financial LLC bought a new stake in shares of Johnson & Johnson in the 1st quarter valued at $211,000. Allen Mooney & Barnes Investment Advisors LLC increased its position in shares of Johnson & Johnson by 2.2% during the first quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 8,469 shares of the company’s stock worth $1,404,000 after acquiring an additional 186 shares in the last quarter. Ferguson Wellman Capital Management Inc. lifted its holdings in shares of Johnson & Johnson by 1.0% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 282,317 shares of the company’s stock valued at $46,820,000 after purchasing an additional 2,694 shares in the last quarter. Defined Financial Planning LLC grew its stake in shares of Johnson & Johnson by 10.9% during the 1st quarter. Defined Financial Planning LLC now owns 2,991 shares of the company’s stock worth $458,000 after acquiring an additional 293 shares in the last quarter. Finally, FMB Wealth Management bought a new stake in Johnson & Johnson during the 1st quarter worth about $233,000. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Up 0.9%

JNJ opened at $156.61 on Friday. The company has a market cap of $376.82 billion, a P/E ratio of 23.55, a P/E/G ratio of 2.56 and a beta of 0.42. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $169.99. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. The business’s 50-day moving average price is $153.69 and its 200-day moving average price is $153.71.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.18. The firm had revenue of $21.89 billion during the quarter, compared to analyst estimates of $21.65 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. On average, equities analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th were given a $1.30 dividend. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.32%. Johnson & Johnson’s payout ratio is presently 57.84%.

Analyst Ratings Changes

A number of research analysts have weighed in on JNJ shares. Morgan Stanley raised their price target 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. Leerink Partnrs downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Raymond James dropped their price objective on Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating for the company in a report on Monday, April 14th. Leerink Partners downgraded shares of Johnson & Johnson from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $169.00 to $153.00 in a research note on Tuesday, May 13th. Finally, Barclays decreased their target price on Johnson & Johnson from $166.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 17th. Eleven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.