Grove Bank & Trust reduced its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 14.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,442 shares of the company's stock after selling 3,194 shares during the quarter. Grove Bank & Trust's holdings in Johnson & Johnson were worth $3,224,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the stock. WealthTrak Capital Management LLC purchased a new stake in shares of Johnson & Johnson in the fourth quarter worth $26,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Johnson & Johnson in the 4th quarter valued at about $29,000. Conquis Financial LLC bought a new stake in shares of Johnson & Johnson during the 4th quarter valued at about $33,000. Bernard Wealth Management Corp. purchased a new position in shares of Johnson & Johnson during the fourth quarter worth about $36,000. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of Johnson & Johnson in the fourth quarter worth approximately $38,000. 69.55% of the stock is owned by institutional investors.
Johnson & Johnson Trading Down 1.1%
Shares of Johnson & Johnson stock traded down $1.61 during trading on Wednesday, reaching $150.77. 8,323,506 shares of the stock were exchanged, compared to its average volume of 7,959,915. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99. The company has a quick ratio of 1.03, a current ratio of 1.26 and a debt-to-equity ratio of 0.49. The stock's fifty day moving average is $154.03 and its 200 day moving average is $153.69. The firm has a market cap of $362.76 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 2.35 and a beta of 0.42.
Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, beating analysts' consensus estimates of $2.59 by $0.18. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. The firm had revenue of $21.89 billion for the quarter, compared to analyst estimates of $21.65 billion. As a group, equities research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.
Johnson & Johnson Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th were given a dividend of $1.30 per share. This is a boost from Johnson & Johnson's previous quarterly dividend of $1.24. This represents a $5.20 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend was Tuesday, May 27th. Johnson & Johnson's dividend payout ratio (DPR) is 57.84%.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the stock. Morgan Stanley boosted their price target on shares of Johnson & Johnson from $164.00 to $169.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 16th. Wall Street Zen lowered shares of Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Barclays reduced their target price on Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. Bank of America dropped their price target on Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Finally, Leerink Partnrs lowered Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Eleven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $170.88.
Read Our Latest Stock Report on JNJ
Johnson & Johnson Company Profile
(
Free Report)
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.
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