First Bancorp Inc ME Grows Stake in Johnson & Johnson (NYSE:JNJ)

First Bancorp Inc ME raised its position in Johnson & Johnson (NYSE:JNJ) by 1.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,279 shares of the company’s stock after buying an additional 93 shares during the period. Johnson & Johnson comprises about 0.8% of First Bancorp Inc ME’s portfolio, making the stock its 28th largest holding. First Bancorp Inc ME’s holdings in Johnson & Johnson were worth $1,197,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Dark Forest Capital Management LP purchased a new position in Johnson & Johnson during the second quarter worth approximately $223,000. Invst LLC boosted its position in shares of Johnson & Johnson by 11.7% during the 2nd quarter. Invst LLC now owns 2,083 shares of the company’s stock valued at $305,000 after acquiring an additional 218 shares during the last quarter. Quarry LP acquired a new stake in Johnson & Johnson during the second quarter worth about $49,000. Gateway Wealth Partners LLC raised its stake in Johnson & Johnson by 12.6% during the second quarter. Gateway Wealth Partners LLC now owns 2,412 shares of the company’s stock worth $352,000 after purchasing an additional 270 shares during the period. Finally, Truist Financial Corp boosted its holdings in Johnson & Johnson by 4.9% in the 2nd quarter. Truist Financial Corp now owns 2,122,856 shares of the company’s stock valued at $310,277,000 after purchasing an additional 98,903 shares during the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on JNJ. Raymond James reduced their price target on shares of Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Wells Fargo & Company decreased their price target on Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Wolfe Research initiated coverage on Johnson & Johnson in a research report on Friday, November 15th. They set an “outperform” rating and a $190.00 price objective for the company. Barclays upped their target price on shares of Johnson & Johnson from $159.00 to $166.00 and gave the company an “equal weight” rating in a research report on Tuesday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $181.00 price target on shares of Johnson & Johnson in a research report on Thursday, January 23rd. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $170.44.

Insider Activity

In other news, Director Mark A. Weinberger acquired 1,000 shares of Johnson & Johnson stock in a transaction on Thursday, December 12th. The stock was bought at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the completion of the purchase, the director now owns 1,000 shares in the company, valued at $147,220. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $150.63 on Wednesday. The stock’s 50-day simple moving average is $147.81 and its 200-day simple moving average is $156.12. The firm has a market capitalization of $362.65 billion, a PE ratio of 22.65, a price-to-earnings-growth ratio of 2.45 and a beta of 0.51. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $168.85. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.05. The company had revenue of $22.52 billion for the quarter, compared to analysts’ expectations of $22.44 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.35%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the company earned $2.29 earnings per share. As a group, equities research analysts forecast that Johnson & Johnson will post 10.56 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 74.59%.

About Johnson & Johnson

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.