Cardinal Point Wealth Management Partners LLC Takes $236,000 Position in Johnson & Johnson (NYSE:JNJ)

Cardinal Point Wealth Management Partners LLC purchased a new stake in Johnson & Johnson (NYSE:JNJ – Get Rating) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,337 shares of the company’s stock, valued at approximately $236,000.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Johnson & Johnson by 1.2% in the third quarter. Vanguard Group Inc. now owns 245,340,875 shares of the company’s stock valued at $40,078,885,000 after purchasing an additional 2,815,655 shares during the period. State Street Corp increased its holdings in Johnson & Johnson by 0.6% in the third quarter. State Street Corp now owns 141,886,311 shares of the company’s stock valued at $23,178,548,000 after purchasing an additional 803,013 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Johnson & Johnson by 3.3% in the third quarter. Price T Rowe Associates Inc. MD now owns 25,428,626 shares of the company’s stock valued at $4,154,022,000 after purchasing an additional 805,831 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Johnson & Johnson by 1.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 17,189,229 shares of the company’s stock worth $3,046,449,000 after acquiring an additional 328,297 shares during the period. Finally, California Public Employees Retirement System grew its holdings in Johnson & Johnson by 2.7% during the 3rd quarter. California Public Employees Retirement System now owns 11,751,504 shares of the company’s stock worth $1,919,726,000 after acquiring an additional 310,473 shares during the period. 67.94% of the stock is currently owned by institutional investors.

Insider Activity at Johnson & Johnson

In related news, insider James D. Swanson sold 1,062 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $154.66, for a total value of $164,248.92. Following the transaction, the insider now owns 9,215 shares in the company, valued at $1,425,191.90. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.20% of the stock is owned by company insiders.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $160.99 on Friday. Johnson & Johnson has a twelve month low of $150.11 and a twelve month high of $183.35. The stock’s 50 day moving average price is $158.97 and its 200-day moving average price is $166.83. The company has a market capitalization of $418.37 billion, a PE ratio of 33.68, a PEG ratio of 2.77 and a beta of 0.53. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.49.

Johnson & Johnson (NYSE:JNJ – Get Rating) last announced its earnings results on Tuesday, April 18th. The company reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $2.51 by $0.17. Johnson & Johnson had a return on equity of 36.13% and a net margin of 13.22%. The firm had revenue of $24.75 billion for the quarter, compared to the consensus estimate of $23.61 billion. During the same quarter in the previous year, the business earned $2.67 EPS. The company’s revenue was up 5.6% compared to the same quarter last year. On average, equities analysts anticipate that Johnson & Johnson will post 10.66 EPS for the current year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 6th. Stockholders of record on Tuesday, May 23rd will be paid a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Monday, May 22nd. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.13. Johnson & Johnson’s payout ratio is presently 94.56%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Wednesday, February 1st. Guggenheim started coverage on Johnson & Johnson in a research note on Tuesday, February 28th. They issued a “neutral” rating and a $161.00 target price for the company. SVB Leerink reduced their target price on Johnson & Johnson from $194.00 to $186.00 and set an “outperform” rating for the company in a research note on Friday, January 20th. Credit Suisse Group raised their target price on Johnson & Johnson from $168.00 to $170.00 in a research note on Friday, May 5th. Finally, StockNews.com started coverage on Johnson & Johnson in a research note on Thursday, March 16th. They issued a “strong-buy” rating for the company. Seven 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 company. Based on data from MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.00.

Johnson & Johnson Company Profile

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Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer Health, Pharmaceutical, and MedTech. The Consumer Health segment includes products focused on personal healthcare used in the Skin Health/Beauty, Over-the-Counter medicines, Baby Care, Oral Care, Women’s Health and Wound Care markets.