Corbyn Investment Management Inc. MD Sells 822 Shares of Johnson & Johnson (NYSE:JNJ)

Corbyn Investment Management Inc. MD reduced its stake in Johnson & Johnson (NYSE:JNJ) by 9.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,296 shares of the company’s stock after selling 822 shares during the quarter. Corbyn Investment Management Inc. MD’s holdings in Johnson & Johnson were worth $1,300,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Brown Miller Wealth Management LLC increased its stake in shares of Johnson & Johnson by 3.1% in the third quarter. Brown Miller Wealth Management LLC now owns 18,097 shares of the company’s stock worth $2,818,000 after purchasing an additional 545 shares in the last quarter. Meridian Wealth Management LLC boosted its holdings in Johnson & Johnson by 79.6% in the 3rd quarter. Meridian Wealth Management LLC now owns 101,082 shares of the company’s stock worth $15,745,000 after buying an additional 44,786 shares during the period. B.O.S.S. Retirement Advisors LLC increased its stake in Johnson & Johnson by 9.6% in the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 20,333 shares of the company’s stock worth $3,167,000 after buying an additional 1,773 shares in the last quarter. KFG Wealth Management LLC raised its holdings in Johnson & Johnson by 3.8% during the third quarter. KFG Wealth Management LLC now owns 4,575 shares of the company’s stock valued at $713,000 after acquiring an additional 168 shares during the period. Finally, Nikulski Financial Inc. raised its stake in Johnson & Johnson by 11.0% during the 3rd quarter. Nikulski Financial Inc. now owns 2,125 shares of the company’s stock valued at $331,000 after purchasing an additional 210 shares during the period. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Johnson & Johnson news, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $25.81, for a total value of $96,142.25. Following the transaction, the insider now owns 4,099,575 shares of the company’s stock, valued at approximately $105,810,030.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the transaction, the insider now directly owns 4,099,575 shares in the company, valued at $105,810,030.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 approximately $22,099,078.32. The disclosure for this sale can be found here. 0.16% of the stock is owned by corporate insiders.

Johnson & Johnson Stock Up 0.5 %

Shares of JNJ opened at $146.84 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.38. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $175.97. The company has a market cap of $353.85 billion, a PE ratio of 9.15, a P/E/G ratio of 2.41 and a beta of 0.53. The business has a fifty day moving average of $155.07 and a 200 day moving average of $155.23.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.07. The firm had revenue of $21.38 billion during 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 business’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business earned $2.68 EPS. On average, sell-side analysts expect that Johnson & Johnson will post 10.65 EPS for the current year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be paid a dividend of $1.24 per share. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date is Monday, May 20th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.38%. Johnson & Johnson’s dividend payout ratio is currently 29.68%.

Analyst Ratings Changes

Several research firms have weighed in on JNJ. Morgan Stanley dropped their price target on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Raymond James upped their target price on shares of Johnson & Johnson from $172.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 3rd. HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their price target for the company from $169.00 to $170.00 in a report on Thursday, April 18th. Royal Bank of Canada dropped their price objective on shares of Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. Finally, Bank of America reduced their target price on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.