First Bancorp Inc ME Has $1.37 Million Stock Position in Johnson & Johnson (NYSE:JNJ)

First Bancorp Inc ME lifted its stake in Johnson & Johnson (NYSE:JNJ) by 8.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,675 shares of the company’s stock after purchasing an additional 654 shares during the quarter. Johnson & Johnson accounts for about 1.0% of First Bancorp Inc ME’s investment portfolio, making the stock its 20th largest holding. First Bancorp Inc ME’s holdings in Johnson & Johnson were worth $1,372,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Prentice Wealth Management LLC raised its stake in shares of Johnson & Johnson by 7.6% during the 1st quarter. Prentice Wealth Management LLC now owns 5,011 shares of the company’s stock worth $793,000 after purchasing an additional 355 shares in the last quarter. Thompson Investment Management Inc. grew its holdings in shares of Johnson & Johnson by 1.1% during the 1st quarter. Thompson Investment Management Inc. now owns 45,466 shares of the company’s stock worth $7,192,000 after purchasing an additional 502 shares in the last quarter. DLK Investment Management LLC grew its holdings in shares of Johnson & Johnson by 4.4% during the 1st quarter. DLK Investment Management LLC now owns 31,527 shares of the company’s stock worth $4,987,000 after purchasing an additional 1,326 shares in the last quarter. Beech Hill Advisors Inc. grew its holdings in shares of Johnson & Johnson by 2.3% during the 1st quarter. Beech Hill Advisors Inc. now owns 19,831 shares of the company’s stock worth $3,137,000 after purchasing an additional 439 shares in the last quarter. Finally, Evanson Asset Management LLC grew its holdings in shares of Johnson & Johnson by 1.2% during the 1st quarter. Evanson Asset Management LLC now owns 13,731 shares of the company’s stock worth $2,172,000 after purchasing an additional 169 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Trading Down 0.2 %

Shares of JNJ stock traded down $0.35 on Wednesday, reaching $146.84. 3,168,633 shares of the stock were exchanged, compared to its average volume of 7,391,220. The stock has a market cap of $353.40 billion, a PE ratio of 9.13, a P/E/G ratio of 2.45 and a beta of 0.53. Johnson & Johnson has a one year low of $143.13 and a one year high of $175.97. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94. The stock has a 50 day moving average price of $148.13 and a 200 day moving average price of $154.24.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The business had revenue of $21.38 billion during the quarter, compared to analysts’ expectations of $21.39 billion. During the same period in the previous year, the firm earned $2.68 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities research analysts forecast that Johnson & Johnson will post 10.63 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.38%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend was Monday, May 20th. Johnson & Johnson’s payout ratio is presently 30.92%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Morgan Stanley decreased their price objective on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. Royal Bank of Canada restated an “outperform” rating and set a $175.00 target price on shares of Johnson & Johnson in a research report on Monday, June 17th. HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and raised their target price for the stock from $169.00 to $170.00 in a research report on Thursday, April 18th. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Thursday, June 20th. Finally, The Goldman Sachs Group began coverage on Johnson & Johnson in a research report on Thursday, May 30th. They issued a “neutral” rating and a $160.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $174.07.

Johnson & Johnson Profile

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.