Corbyn Investment Management Inc. MD Has $1.05 Million Stock Position in Johnson & Johnson (NYSE:JNJ)

Corbyn Investment Management Inc. MD cut its holdings in Johnson & Johnson (NYSE:JNJ) by 7.5% during the third quarter, according to its most recent disclosure with the Securities & 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 quarter.

A number of other institutional investors have also made changes to their positions in the business. Richard C. Young & CO. LTD. increased its stake in Johnson & Johnson by 1.7% in the 3rd quarter. Richard C. Young & CO. LTD. now owns 74,216 shares of the company’s stock valued at $12,027,000 after buying an additional 1,237 shares during the last quarter. Equity Investment Corp grew its holdings in shares of Johnson & Johnson by 1.2% in the 3rd quarter. Equity Investment Corp now owns 86,613 shares of the company’s stock valued at $14,036,000 after acquiring an additional 1,004 shares in the last quarter. Phillips Financial Management LLC increased its position in shares of Johnson & Johnson by 6.7% in the third quarter. Phillips Financial Management LLC now owns 1,836 shares of the company’s stock valued at $298,000 after acquiring an additional 116 shares during the last quarter. Aljian Capital Management LLC bought a new stake in Johnson & Johnson during the third quarter worth about $567,000. Finally, TrinityPoint Wealth LLC boosted its position in Johnson & Johnson by 0.6% during the third quarter. TrinityPoint Wealth LLC now owns 46,994 shares of the company’s stock valued at $7,616,000 after purchasing an additional 295 shares during the last quarter. Institutional investors own 69.55% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Daiwa Capital Markets lowered shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Citigroup lifted their price objective on shares of Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Wolfe Research assumed coverage on shares of Johnson & Johnson in a report on Friday. They issued an “outperform” rating and a $190.00 target price on the stock. Finally, Morgan Stanley raised their target price on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and a consensus target price of $175.94.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $154.00 on Monday. The business’s 50 day moving average is $161.35 and its 200-day moving average is $156.13. The firm has a market cap of $370.77 billion, a P/E ratio of 22.29, a price-to-earnings-growth ratio of 2.74 and a beta of 0.53. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45.

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

Johnson & Johnson Dividend Announcement

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

Insider Transactions at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the sale, the vice president now directly owns 18,973 shares in the company, valued at approximately $3,131,683.38. The trade was a 22.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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.