Rockland Trust Co. Sells 6,686 Shares of Johnson & Johnson (NYSE:JNJ)

Rockland Trust Co. decreased its position in Johnson & Johnson (NYSE:JNJ) by 5.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 111,361 shares of the company’s stock after selling 6,686 shares during the quarter. Rockland Trust Co.’s holdings in Johnson & Johnson were worth $18,047,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Summit Wealth Partners LLC boosted its stake in Johnson & Johnson by 0.6% during the second quarter. Summit Wealth Partners LLC now owns 10,007 shares of the company’s stock worth $1,463,000 after acquiring an additional 61 shares in the last quarter. Citizens & Northern Corp raised its stake in Johnson & Johnson by 3.5% during the second quarter. Citizens & Northern Corp now owns 1,884 shares of the company’s stock valued at $275,000 after buying an additional 63 shares during the last quarter. Epic Trust Investment Advisors LLC boosted its holdings in Johnson & Johnson by 3.6% in the second quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock worth $268,000 after acquiring an additional 64 shares in the last quarter. Pine Harbor Wealth Management LLC increased its holdings in shares of Johnson & Johnson by 1.9% during the second quarter. Pine Harbor Wealth Management LLC now owns 3,472 shares of the company’s stock valued at $507,000 after acquiring an additional 64 shares in the last quarter. Finally, Outfitter Financial LLC raised its position in shares of Johnson & Johnson by 0.4% in the 2nd quarter. Outfitter Financial LLC now owns 16,632 shares of the company’s stock worth $2,431,000 after purchasing an additional 65 shares during the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the sale, the vice president now directly owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.16% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on JNJ. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price objective on shares of Johnson & Johnson in a research report on Friday, September 20th. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. The Goldman Sachs Group lowered their price objective on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Daiwa America lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Finally, Sanford C. Bernstein increased their price objective on Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $173.21.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $160.50 on Friday. The firm’s 50 day moving average price is $162.61 and its 200-day moving average price is $154.30. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $386.27 billion, a PE ratio of 10.01, a price-to-earnings-growth ratio of 2.69 and a beta of 0.53. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $168.85.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The firm had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. During the same quarter in the previous year, the firm posted $2.80 EPS. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. Equities research analysts expect that Johnson & Johnson will post 10.02 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend was Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio is currently 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.