Grove Bank & Trust Purchases 322 Shares of Johnson & Johnson (NYSE:JNJ)

Grove Bank & Trust boosted its position in shares of Johnson & Johnson (NYSE:JNJ) by 1.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,478 shares of the company’s stock after buying an additional 322 shares during the quarter. Grove Bank & Trust’s holdings in Johnson & Johnson were worth $3,285,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Christopher J. Hasenberg Inc purchased a new position in shares of Johnson & Johnson during the first quarter valued at approximately $31,000. WFA Asset Management Corp raised its holdings in Johnson & Johnson by 61.4% in the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after purchasing an additional 97 shares in the last quarter. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Johnson & Johnson in the 4th quarter worth about $44,000. Disciplined Equity Management Inc. bought a new stake in shares of Johnson & Johnson during the 4th quarter valued at about $45,000. Finally, MFA Wealth Advisors LLC bought a new position in Johnson & Johnson in the second quarter worth about $43,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Trading Up 1.1 %

NYSE:JNJ opened at $164.13 on Friday. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $167.78. The stock has a market cap of $395.01 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 2.63 and a beta of 0.52. The company’s 50 day moving average price is $153.92 and its 200-day moving average price is $153.24. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. The business had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.80 EPS. On average, equities research analysts forecast that Johnson & Johnson will post 10.07 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th will be issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Tuesday, August 27th. Johnson & Johnson’s payout ratio is presently 30.92%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Sanford C. Bernstein lifted their price objective on Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Morgan Stanley upped their price target on Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price objective on shares of Johnson & Johnson in a research report on Tuesday, July 30th. TD Cowen reduced their target price on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Finally, StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 16th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus target price of $173.21.

Johnson & Johnson Company 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.