Groesbeck Investment Management Corp NJ Has $234,000 Stock Position in Johnson & Johnson (NYSE:JNJ)

Groesbeck Investment Management Corp NJ cut its stake in Johnson & Johnson (NYSE:JNJ) by 29.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,600 shares of the company’s stock after selling 669 shares during the period. Groesbeck Investment Management Corp NJ’s holdings in Johnson & Johnson were worth $234,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Christopher J. Hasenberg Inc acquired a new stake in shares of Johnson & Johnson in the first quarter valued at $31,000. MFA Wealth Advisors LLC acquired a new position in shares of Johnson & Johnson during the second quarter worth approximately $43,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Johnson & Johnson during the fourth quarter valued at approximately $44,000. Disciplined Equity Management Inc. acquired a new stake in shares of Johnson & Johnson in the fourth quarter valued at approximately $45,000. Finally, Grayhawk Investment Strategies Inc. raised its position in Johnson & Johnson by 528.6% in the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after purchasing an additional 259 shares during the last quarter. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Down 1.0 %

Shares of JNJ traded down $1.60 during trading hours on Tuesday, reaching $163.01. 3,147,782 shares of the stock traded hands, compared to its average volume of 7,274,545. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $166.21. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The stock has a fifty day simple moving average of $154.30 and a 200 day simple moving average of $153.26. The company has a market cap of $392.31 billion, a price-to-earnings ratio of 10.14, a PEG ratio of 2.63 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. The company had revenue of $22.45 billion for the quarter, compared to the consensus estimate of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.80 EPS. On average, equities analysts forecast that Johnson & Johnson will post 10.07 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th will be given a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.04%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 30.92%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on JNJ shares. Daiwa America cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group dropped their price target on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Johnson & Johnson in a research note on Tuesday, July 30th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 16th. Finally, TD Cowen decreased their price objective on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $173.21.

About Johnson & Johnson

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.