Camden National Bank Trims Holdings in Johnson & Johnson (JNJ)

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Camden National Bank cut its position in shares of Johnson & Johnson (NYSE:JNJ) by 0.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 84,321 shares of the company’s stock after selling 480 shares during the quarter. Johnson & Johnson accounts for 2.7% of Camden National Bank’s portfolio, making the stock its 7th largest position. Camden National Bank’s holdings in Johnson & Johnson were worth $10,232,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of JNJ. Toronto Dominion Bank lifted its stake in shares of Johnson & Johnson by 5.1% in the 1st quarter. Toronto Dominion Bank now owns 1,664,083 shares of the company’s stock valued at $213,200,000 after acquiring an additional 81,485 shares during the last quarter. KLCM Advisors Inc. lifted its stake in shares of Johnson & Johnson by 6.8% in the 1st quarter. KLCM Advisors Inc. now owns 12,126 shares of the company’s stock valued at $1,554,000 after acquiring an additional 772 shares during the last quarter. Cornerstone Advisory LLP lifted its stake in shares of Johnson & Johnson by 16.4% in the 1st quarter. Cornerstone Advisory LLP now owns 10,700 shares of the company’s stock valued at $1,371,000 after acquiring an additional 1,511 shares during the last quarter. Stratos Wealth Partners LTD. lifted its stake in shares of Johnson & Johnson by 5.8% in the 1st quarter. Stratos Wealth Partners LTD. now owns 115,824 shares of the company’s stock valued at $14,843,000 after acquiring an additional 6,320 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in shares of Johnson & Johnson by 23.7% in the 1st quarter. Quadrant Capital Group LLC now owns 16,554 shares of the company’s stock valued at $2,099,000 after acquiring an additional 3,176 shares during the last quarter. 66.51% of the stock is owned by institutional investors.

In other Johnson & Johnson news, VP Peter Fasolo sold 166,695 shares of the company’s stock in a transaction that occurred on Tuesday, December 4th. The stock was sold at an average price of $146.41, for a total transaction of $24,405,814.95. Following the transaction, the vice president now owns 155,540 shares in the company, valued at approximately $22,772,611.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Alex Gorsky sold 264,465 shares of the company’s stock in a transaction that occurred on Friday, November 16th. The stock was sold at an average price of $145.96, for a total value of $38,601,311.40. Following the transaction, the chief executive officer now owns 481,254 shares in the company, valued at approximately $70,243,833.84. The disclosure for this sale can be found here. Insiders have sold a total of 510,544 shares of company stock valued at $74,414,877 in the last ninety days. 0.22% of the stock is currently owned by corporate insiders.

JNJ opened at $145.43 on Friday. The company has a market cap of $391.78 billion, a price-to-earnings ratio of 19.92, a price-to-earnings-growth ratio of 2.28 and a beta of 0.59. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.72 and a quick ratio of 1.40. Johnson & Johnson has a one year low of $118.62 and a one year high of $148.99.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, October 16th. The company reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.02. The business had revenue of $20.35 billion during the quarter, compared to analyst estimates of $20.05 billion. Johnson & Johnson had a return on equity of 34.62% and a net margin of 1.89%. Johnson & Johnson’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.90 EPS. Equities research analysts forecast that Johnson & Johnson will post 8.16 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 11th. Shareholders of record on Tuesday, November 27th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend is Monday, November 26th. Johnson & Johnson’s payout ratio is 49.32%.

A number of research firms have recently weighed in on JNJ. Zacks Investment Research raised Johnson & Johnson from a “hold” rating to a “buy” rating and set a $158.00 target price for the company in a research note on Wednesday, November 28th. Wells Fargo & Co reissued an “outperform” rating and issued a $160.00 target price on shares of Johnson & Johnson in a research note on Friday, September 14th. HC Wainwright reissued a “buy” rating on shares of Johnson & Johnson in a research note on Wednesday, October 17th. Credit Suisse Group set a $149.00 target price on Johnson & Johnson and gave the company a “buy” rating in a research note on Sunday, October 14th. Finally, Citigroup boosted their target price on Johnson & Johnson from $137.00 to $148.00 and gave the company a “neutral” rating in a research note on Monday, October 22nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $143.90.

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About Johnson & Johnson

Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment includes products used in the baby care, oral care, beauty, over-the-counter pharmaceutical, women’s health, and wound care markets.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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