Grove Bank & Trust Grows Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Grove Bank & Trust raised its stake in shares of Johnson & Johnson (NYSE:JNJ) by 3.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,636 shares of the company’s stock after acquiring an additional 848 shares during the period. Grove Bank & Trust’s holdings in Johnson & Johnson were worth $3,274,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of JNJ. Vinva Investment Management Ltd lifted its position in Johnson & Johnson by 6.8% in the third quarter. Vinva Investment Management Ltd now owns 111,448 shares of the company’s stock valued at $17,988,000 after purchasing an additional 7,110 shares during the period. Financial Counselors Inc. boosted its stake in shares of Johnson & Johnson by 5.3% in the third quarter. Financial Counselors Inc. now owns 185,093 shares of the company’s stock valued at $29,996,000 after buying an additional 9,309 shares in the last quarter. Meridian Investment Counsel Inc. grew its holdings in Johnson & Johnson by 19.6% during the third quarter. Meridian Investment Counsel Inc. now owns 22,629 shares of the company’s stock worth $3,667,000 after acquiring an additional 3,710 shares during the period. Charles Schwab Investment Management Inc. raised its position in Johnson & Johnson by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock worth $2,858,543,000 after acquiring an additional 102,502 shares in the last quarter. Finally, Lord Abbett & CO. LLC purchased a new stake in shares of Johnson & Johnson during the 3rd quarter worth $69,859,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Johnson & Johnson

In related news, Director Mark A. Weinberger acquired 1,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was bought at an average price of $147.22 per share, with a total value of $147,220.00. Following the purchase, the director now directly owns 1,000 shares in the company, valued at $147,220. The trade was a ? increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on JNJ. Royal Bank of Canada raised their price objective on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Wolfe Research assumed coverage on Johnson & Johnson in a research note on Friday, November 15th. They set an “outperform” rating and a $190.00 price target on the stock. Bank of America dropped their price objective on Johnson & Johnson from $166.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. Morgan Stanley upped their target price on Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Finally, Guggenheim lifted their price target on Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Johnson & Johnson currently has an average rating of “Hold” and a consensus target price of $173.27.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $148.10 on Wednesday. The company has a market capitalization of $356.57 billion, a price-to-earnings ratio of 21.43, a PEG ratio of 2.39 and a beta of 0.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $168.85. The company’s 50 day simple moving average is $148.35 and its 200 day simple moving average is $156.11.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio is currently 71.78%.

Johnson & Johnson Company Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.