Bangor Savings Bank Sells 1,350 Shares of Johnson & Johnson (NYSE:JNJ)

Bangor Savings Bank decreased its position in shares of Johnson & Johnson (NYSE:JNJ) by 4.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,457 shares of the company’s stock after selling 1,350 shares during the quarter. Johnson & Johnson accounts for approximately 0.4% of Bangor Savings Bank’s investment portfolio, making the stock its 26th largest position. Bangor Savings Bank’s holdings in Johnson & Johnson were worth $4,388,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. WealthTrak Capital Management LLC bought a new stake in Johnson & Johnson during the fourth quarter worth about $26,000. Mountain Hill Investment Partners Corp. bought a new stake in Johnson & Johnson during the fourth quarter worth about $29,000. Conquis Financial LLC acquired a new position in Johnson & Johnson during the fourth quarter worth about $33,000. Bernard Wealth Management Corp. acquired a new position in Johnson & Johnson during the fourth quarter worth about $36,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in Johnson & Johnson during the fourth quarter worth about $38,000. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Up 0.9%

Shares of NYSE JNJ opened at $155.02 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.11 and a quick ratio of 0.86. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99. The company has a 50 day simple moving average of $153.59 and a 200 day simple moving average of $153.67. The firm has a market cap of $372.99 billion, a PE ratio of 23.31, a price-to-earnings-growth ratio of 2.56 and a beta of 0.42.

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

Johnson & Johnson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th will be issued a dividend of $1.30 per share. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.24. The ex-dividend date is Tuesday, May 27th. This represents a $5.20 annualized dividend and a yield of 3.35%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 57.84%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Wall Street Zen downgraded Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Sanford C. Bernstein reissued a “market perform” rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Leerink Partners downgraded Johnson & Johnson from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $169.00 to $153.00 in a research note on Tuesday, May 13th. Leerink Partnrs downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $181.00 target price on shares of Johnson & Johnson in a research note on Thursday. Eleven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus price target 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.