The Ipswich Investment Management Co. Inc. reached $6,986,000 position of Johnson & Johnson (JNJ)

The Ipswich Investment Management Co. Inc. reached $6,986,000 position  of Johnson & Johnson (JNJ)

Ipswich Investment Management Co. Inc. reduced its position in shares of Johnson & Johnson (NYSE:JNJ) by 0.5% during the second quarter, Holdings Channel reports. The institutional investor owned 57,590 shares of the company’s stock after selling 281 shares during the period. Johnson & Johnson comprises 3.5% of Ipswich Investment Management Co. Inc.’s investment portfolio, making the stock its 2nd largest position. Ipswich Investment Management Co. Inc.’s holdings in Johnson & Johnson were worth $6,986,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in JNJ. BlackRock Institutional Trust Company N.A. increased its stake in shares of Johnson & Johnson by 2.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 73,530,716 shares of the company’s stock valued at $7,956,023,000 after buying an additional 1,546,408 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of Johnson & Johnson by 0.7% in the first quarter. BlackRock Fund Advisors now owns 39,896,726 shares of the company’s stock valued at $4,316,826,000 after buying an additional 295,112 shares during the last quarter. BlackRock Group LTD increased its stake in shares of Johnson & Johnson by 2.7% in the first quarter. BlackRock Group LTD now owns 25,025,779 shares of the company’s stock valued at $2,707,789,000 after buying an additional 666,384 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake in shares of Johnson & Johnson by 12.5% in the first quarter. TIAA CREF Investment Management LLC now owns 13,848,797 shares of the company’s stock valued at $1,498,440,000 after buying an additional 1,534,277 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Johnson & Johnson by 1.7% in the first quarter. Legal & General Group Plc now owns 13,449,262 shares of the company’s stock valued at $1,455,269,000 after buying an additional 226,357 shares during the last quarter. 65.32% of the stock is currently owned by institutional investors.

Johnson & Johnson (NYSE:JNJ) traded up 0.54% during trading on Monday, hitting $118.20. The stock had a trading volume of 1,757,285 shares. The company has a market cap of $323.38 billion, a price-to-earnings ratio of 22.03 and a beta of 0.62. Johnson & Johnson has a 52 week low of $94.28 and a 52 week high of $126.07. The company has a 50-day moving average of $118.72 and a 200 day moving average of $117.37.

Several equities research analysts have recently issued reports on the stock. RBC Capital Markets restated an “outperform” rating and issued a $133.00 price objective (up previously from $125.00) on shares of Johnson & Johnson in a research note on Wednesday, July 20th. Leerink Swann reiterated an “outperform” rating and set a $140.00 price target (up previously from $125.00) on shares of Johnson & Johnson in a research note on Wednesday, July 20th. Royal Bank Of Canada lifted their price target on shares of Johnson & Johnson from $125.00 to $133.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 20th. BMO Capital Markets reiterated an “outperform” rating and set a $132.00 price target on shares of Johnson & Johnson in a research note on Wednesday, July 20th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $142.00 price target (up previously from $125.00) on shares of Johnson & Johnson in a research note on Thursday, July 21st. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $120.20.

In other Johnson & Johnson news, VP Dominic J. Caruso sold 41,146 shares of the stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $125.01, for a total value of $5,143,661.46. Following the completion of the transaction, the vice president now directly owns 157,819 shares in the company, valued at $19,728,953.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Ronald A. Kapusta sold 2,935 shares of the stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $125.01, for a total value of $366,904.35. Following the completion of the transaction, the chief accounting officer now owns 28,660 shares of the company’s stock, valued at $3,582,786.60. The disclosure for this sale can be found here. 0.11% of the stock is owned by company insiders.

About Johnson & Johnson

Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of a range of products in the healthcare field. The Company’s segments include Consumer, Pharmaceutical and Medical Devices. The Consumer segment includes a range of products used in the baby care, oral care, skin care, over-the-counter pharmaceutical, women’s health and wound care markets.

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