Grove Bank & Trust Sells 690 Shares of Johnson & Johnson (NYSE:JNJ)

Grove Bank & Trust lowered its stake in Johnson & Johnson (NYSE:JNJ) by 3.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,788 shares of the company’s stock after selling 690 shares during the quarter. Grove Bank & Trust’s holdings in Johnson & Johnson were worth $3,531,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in JNJ. Summit Wealth Partners LLC boosted its stake in Johnson & Johnson by 0.6% during the 2nd quarter. Summit Wealth Partners LLC now owns 10,007 shares of the company’s stock worth $1,463,000 after purchasing an additional 61 shares during the period. Citizens & Northern Corp raised its holdings in shares of Johnson & Johnson by 3.5% in the second quarter. Citizens & Northern Corp now owns 1,884 shares of the company’s stock valued at $275,000 after buying an additional 63 shares during the last quarter. Eagle Wealth Strategies LLC grew its holdings in shares of Johnson & Johnson by 2.8% during the third quarter. Eagle Wealth Strategies LLC now owns 2,294 shares of the company’s stock worth $372,000 after buying an additional 63 shares during the last quarter. Epic Trust Investment Advisors LLC increased its position in Johnson & Johnson by 3.6% in the 2nd quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock valued at $268,000 after acquiring an additional 64 shares during the period. Finally, Pine Harbor Wealth Management LLC raised its stake in Johnson & Johnson by 1.9% during the 2nd quarter. Pine Harbor Wealth Management LLC now owns 3,472 shares of the company’s stock valued at $507,000 after acquiring an additional 64 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on JNJ. Daiwa America downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada boosted their price objective on shares of Johnson & Johnson from $175.00 to $178.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group reduced their target price on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. TD Cowen dropped their price target on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Finally, Daiwa Capital Markets lowered Johnson & Johnson from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. Six 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. According to data from MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and a consensus price target of $174.31.

Johnson & Johnson Price Performance

Johnson & Johnson stock traded up $0.03 during trading hours on Monday, hitting $161.49. The stock had a trading volume of 2,120,937 shares, compared to its average volume of 7,014,688. The stock has a market capitalization of $388.65 billion, a price-to-earnings ratio of 10.07, a PEG ratio of 2.65 and a beta of 0.52. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85. The stock’s fifty day moving average is $162.59 and its two-hundred day moving average is $154.46.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.11. The firm had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the firm posted $2.80 EPS. As a group, analysts predict that Johnson & Johnson will post 10 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were issued a $1.24 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.07%. Johnson & Johnson’s dividend payout ratio (DPR) is 30.92%.

Insider Activity

In related news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the sale, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.16% of the company’s stock.

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.