Bar Harbor Wealth Management Sells 4,839 Shares of Johnson & Johnson (NYSE:JNJ)

Bar Harbor Wealth Management cut its position in Johnson & Johnson (NYSE:JNJ) by 2.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 225,373 shares of the company’s stock after selling 4,839 shares during the quarter. Johnson & Johnson makes up about 2.5% of Bar Harbor Wealth Management’s holdings, making the stock its 6th biggest position. Bar Harbor Wealth Management’s holdings in Johnson & Johnson were worth $37,376,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new stake in Johnson & Johnson in the 4th quarter worth $4,390,037,000. Raymond James Financial Inc. acquired a new stake in Johnson & Johnson in the 4th quarter worth $1,339,878,000. GAMMA Investing LLC grew its position in Johnson & Johnson by 24,450.4% in the 1st quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company’s stock worth $1,196,596,000 after purchasing an additional 7,185,977 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Johnson & Johnson by 134.5% during the 4th quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company’s stock worth $1,149,536,000 after acquiring an additional 4,559,147 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Johnson & Johnson by 12.3% during the 4th quarter. Northern Trust Corp now owns 30,813,175 shares of the company’s stock worth $4,456,201,000 after acquiring an additional 3,363,235 shares during the period. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Trading Up 0.2%

Shares of NYSE JNJ opened at $156.90 on Friday. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $169.99. The company has a market cap of $377.52 billion, a PE ratio of 23.59, a P/E/G ratio of 2.56 and a beta of 0.42. 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 company has a 50-day moving average of $153.84 and a two-hundred day moving average of $153.72.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.18. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The company had revenue of $21.89 billion during the quarter, compared to the consensus estimate of $21.65 billion. As a group, equities analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently declared 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. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.24. The ex-dividend date was Tuesday, May 27th. This represents a $5.20 annualized dividend and a dividend yield of 3.31%. Johnson & Johnson’s payout ratio is currently 57.84%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on JNJ shares. Guggenheim reaffirmed a “neutral” rating on shares of Johnson & Johnson in a report on Wednesday, April 2nd. Wall Street Zen downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Morgan Stanley raised their price objective on shares of Johnson & Johnson from $164.00 to $169.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 16th. The Goldman Sachs Group raised shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $157.00 to $172.00 in a report on Wednesday, April 9th. Finally, Raymond James cut their price target on shares of Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating for the company in a report on Monday, April 14th. Eleven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus target price of $170.88.

Johnson & Johnson 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.