Corbyn Investment Management Inc. MD Sells 524 Shares of Johnson & Johnson (NYSE:JNJ)

Corbyn Investment Management Inc. MD lowered its position in Johnson & Johnson (NYSE:JNJ) by 7.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,489 shares of the company’s stock after selling 524 shares during the period. Corbyn Investment Management Inc. MD’s holdings in Johnson & Johnson were worth $1,052,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of JNJ. Price T Rowe Associates Inc. MD grew its holdings in shares of Johnson & Johnson by 16.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock worth $3,453,978,000 after purchasing an additional 3,139,499 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Johnson & Johnson by 10.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock worth $2,744,979,000 after buying an additional 1,831,751 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Johnson & Johnson by 5.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 14,374,397 shares of the company’s stock worth $2,100,427,000 after acquiring an additional 754,200 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Johnson & Johnson by 16.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,147,352 shares of the company’s stock valued at $1,921,565,000 after acquiring an additional 1,829,257 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Johnson & Johnson by 5.8% in the second quarter. American Century Companies Inc. now owns 8,014,213 shares of the company’s stock worth $1,171,357,000 after acquiring an additional 437,637 shares during the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on JNJ. Wolfe Research initiated coverage on shares of Johnson & Johnson in a report on Friday. They issued an “outperform” rating and a $190.00 price target for the company. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Citigroup raised their price target on Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Daiwa America cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Finally, Royal Bank of Canada raised their target price on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $175.94.

Johnson & Johnson Price Performance

Shares of JNJ stock opened at $154.00 on Monday. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85. The firm has a fifty day moving average of $161.35 and a 200-day moving average of $156.13. The firm has a market capitalization of $370.77 billion, a price-to-earnings ratio of 22.29, a price-to-earnings-growth ratio of 2.74 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21. The firm had revenue of $22.47 billion during the quarter, compared to analysts’ expectations of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The company’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.66 earnings per share. On average, equities research analysts forecast that Johnson & Johnson will post 9.93 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be issued a dividend of $1.24 per share. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 annualized dividend and a yield of 3.22%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 71.78%.

Insider Buying and Selling at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the sale, the vice president now directly owns 18,973 shares in the company, valued at $3,131,683.38. This trade represents a 22.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.16% of the company’s stock.

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.