Plimoth Trust Co. LLC Has $5.40 Million Holdings in Johnson & Johnson (NYSE:JNJ)

Plimoth Trust Co. LLC increased its position in Johnson & Johnson (NYSE:JNJ) by 4.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,163 shares of the company’s stock after purchasing an additional 1,513 shares during the period. Johnson & Johnson makes up 1.4% of Plimoth Trust Co. LLC’s investment portfolio, making the stock its 17th largest holding. Plimoth Trust Co. LLC’s holdings in Johnson & Johnson were worth $5,404,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Keener Financial Planning LLC acquired a new stake in shares of Johnson & Johnson in the 4th quarter worth about $40,000. WFA Asset Management Corp raised its stake in shares of Johnson & Johnson by 61.4% in the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after purchasing an additional 97 shares during the last quarter. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Johnson & Johnson during the fourth quarter valued at approximately $44,000. Disciplined Equity Management Inc. bought a new stake in Johnson & Johnson during the fourth quarter worth $45,000. Finally, Grayhawk Investment Strategies Inc. raised its position in Johnson & Johnson by 528.6% in the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock valued at $48,000 after buying an additional 259 shares during the last quarter. Institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on JNJ shares. Morgan Stanley lowered their target price on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Monday. Bank of America reduced their target price on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Sunday. Finally, The Goldman Sachs Group began coverage on Johnson & Johnson in a research note on Thursday, May 30th. They issued a “neutral” rating and a $160.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $174.07.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $145.62 on Thursday. The company has a 50 day moving average of $148.02 and a 200 day moving average of $153.91. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36. The stock has a market cap of $350.46 billion, a P/E ratio of 9.08, a P/E/G ratio of 2.43 and a beta of 0.52. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.07. The firm had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.68 earnings per share. As a group, sell-side analysts forecast that Johnson & Johnson will post 10.62 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were issued a dividend of $1.24 per share. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date was Monday, May 20th. This represents a $4.96 annualized dividend and a dividend yield of 3.41%. Johnson & Johnson’s payout ratio is presently 30.92%.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.