Corbyn Investment Management Inc. MD Sells 1,012 Shares of Johnson & Johnson (NYSE:JNJ)

Corbyn Investment Management Inc. MD decreased its position in Johnson & Johnson (NYSE:JNJ) by 12.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,284 shares of the company’s stock after selling 1,012 shares during the quarter. Corbyn Investment Management Inc. MD’s holdings in Johnson & Johnson were worth $1,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of JNJ. Christopher J. Hasenberg Inc purchased a new stake in shares of Johnson & Johnson during the first quarter valued at approximately $31,000. Keener Financial Planning LLC purchased a new stake in Johnson & Johnson during the 4th quarter valued at $40,000. WFA Asset Management Corp grew its holdings in Johnson & Johnson by 61.4% in the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after acquiring an additional 97 shares during the last quarter. Vermillion & White Wealth Management Group LLC bought a new position in shares of Johnson & Johnson during the fourth quarter valued at about $44,000. Finally, Disciplined Equity Management Inc. purchased a new stake in shares of Johnson & Johnson during the fourth quarter worth about $45,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analyst Upgrades and Downgrades

JNJ has been the topic of a number of research analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Monday, July 1st. Morgan Stanley decreased their target price on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. 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. Bank of America decreased their price objective on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 price target on shares of Johnson & Johnson in a research report on Monday, June 17th. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.07.

Johnson & Johnson Stock Performance

Johnson & Johnson stock opened at $149.88 on Friday. The stock’s 50 day moving average is $147.94 and its 200 day moving average is $153.48. The company has a market capitalization of $360.71 billion, a P/E ratio of 9.34, a PEG ratio of 2.50 and a beta of 0.52. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $175.97. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The firm had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. During the same period last year, the company earned $2.68 earnings per share. The company’s revenue was up 2.3% on a year-over-year basis. On average, equities research analysts predict that Johnson & Johnson will post 10.5 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were given a dividend of $1.24 per share. The ex-dividend date was Monday, May 20th. This represents a $4.96 annualized dividend and a dividend yield of 3.31%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio (DPR) is 30.92%.

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.