Johnson & Johnson (NYSE:JNJ) Shares Sold by Corbyn Investment Management Inc. MD

Key Points

• Corbyn Investment Management Inc. MD reduced its stake in Johnson & Johnson by 42.8%, now holding 3,148 shares valued at approximately $522,000.
• Vanguard Group Inc. and several other institutional investors increased their positions in Johnson & Johnson, indicating strong institutional support with 69.55% of the stock owned by institutional investors.
• Johnson & Johnson recently reported earnings of $2.77 per share, surpassing expectations, and announced a quarterly dividend of $1.30 per share, reflecting a yield of 3.0%.

Corbyn Investment Management Inc. MD decreased its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 42.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,148 shares of the company's stock after selling 2,359 shares during the quarter. Corbyn Investment Management Inc. MD's holdings in Johnson & Johnson were worth $522,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Bernard Wealth Management Corp. purchased a new position in Johnson & Johnson during the 4th quarter worth $36,000. Highline Wealth Partners LLC raised its holdings in Johnson & Johnson by 51.8% during the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock worth $42,000 after purchasing an additional 86 shares in the last quarter. von Borstel & Associates Inc. acquired a new stake in Johnson & Johnson in the first quarter valued at about $49,000. Harvest Fund Management Co. Ltd purchased a new stake in Johnson & Johnson in the 1st quarter valued at approximately $52,000. Finally, Capital A Wealth Management LLC purchased a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $50,000. Institutional investors and hedge funds own 69.55% of the company's stock.

Johnson & Johnson Trading Up 0.5%

JNJ traded up $0.82 during midday trading on Thursday, hitting $171.41. The company's stock had a trading volume of 9,314,579 shares, compared to its average volume of 9,367,092. The firm has a market cap of $412.81 billion, a P/E ratio of 18.33, a PEG ratio of 2.17 and a beta of 0.41. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $172.18. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average price of $158.89 and a two-hundred day moving average price of $157.27.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping analysts' consensus estimates of $2.68 by $0.09. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The company had revenue of $23.74 billion for the quarter, compared to the consensus estimate of $22.85 billion. During the same quarter last year, the firm posted $2.82 earnings per share. Johnson & Johnson's revenue was up 5.8% on a year-over-year basis. On average, research analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio (DPR) is 55.61%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on JNJ. Morgan Stanley upped their price objective on Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Benchmark upgraded shares of Johnson & Johnson to a "strong-buy" rating in a research note on Thursday, April 24th. Wall Street Zen downgraded shares of Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Finally, Guggenheim reiterated a "neutral" rating and set a $167.00 target price (up from $164.00) on shares of Johnson & Johnson in a research report on Thursday, July 17th. Nine analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Johnson & Johnson has an average rating of "Moderate Buy" and a consensus target price of $174.50.

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.