Grove Bank & Trust Has $3 Million Holdings in Johnson & Johnson (NYSE:JNJ)

Grove Bank & Trust lifted its position in shares of Johnson & Johnson (NYSE:JNJ) by 1.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,159 shares of the company’s stock after purchasing an additional 315 shares during the period. Grove Bank & Trust’s holdings in Johnson & Johnson were worth $3,003,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in JNJ. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in Johnson & Johnson by 36.8% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 21,544 shares of the company’s stock worth $3,377,000 after acquiring an additional 5,793 shares during the period. River Street Advisors LLC increased its holdings in shares of Johnson & Johnson by 3.9% during the fourth quarter. River Street Advisors LLC now owns 12,080 shares of the company’s stock worth $1,893,000 after purchasing an additional 459 shares during the period. Phocas Financial Corp. acquired a new stake in shares of Johnson & Johnson in the fourth quarter valued at approximately $892,000. Nottingham Advisors Inc. boosted its stake in shares of Johnson & Johnson by 2.6% in the fourth quarter. Nottingham Advisors Inc. now owns 4,640 shares of the company’s stock valued at $727,000 after buying an additional 117 shares during the period. Finally, Aire Advisors LLC increased its stake in Johnson & Johnson by 9.1% during the 4th quarter. Aire Advisors LLC now owns 15,889 shares of the company’s stock worth $2,491,000 after acquiring an additional 1,323 shares during the period. 69.55% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 59,397 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the completion of the transaction, the executive vice president now directly owns 141,416 shares in the company, valued at $22,099,078.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder & Johnson Johnson sold 3,725 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $25.81, for a total transaction of $96,142.25. Following the completion of the sale, the insider now directly owns 4,099,575 shares in the company, valued at $105,810,030.75. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jennifer L. Taubert sold 59,397 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the completion of the transaction, the executive vice president now owns 141,416 shares in the company, valued at approximately $22,099,078.32. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $147.91 on Friday. The firm has a market capitalization of $356.43 billion, a price-to-earnings ratio of 9.22, a PEG ratio of 2.40 and a beta of 0.53. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.38. The business’s 50-day moving average price is $156.15 and its 200-day moving average price is $155.63. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. The firm had revenue of $21.38 billion for the quarter, compared to analyst estimates of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.43%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.68 EPS. Equities research analysts forecast that Johnson & Johnson will post 10.65 EPS for the current year.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st will be issued a dividend of $1.24 per share. The ex-dividend date of this dividend is Monday, May 20th. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a yield of 3.35%. Johnson & Johnson’s payout ratio is presently 29.68%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on JNJ. Royal Bank of Canada cut their target price on Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday. Bank of America dropped their target price on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday. HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and increased their price target for the stock from $169.00 to $170.00 in a research report on Thursday. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Monday, April 15th. Finally, Raymond James lifted their price target on Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, January 3rd. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $175.86.

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.