Cardinal Capital Management Cuts Position in Johnson & Johnson (NYSE:JNJ)

Cardinal Capital Management decreased its stake in Johnson & Johnson (NYSE:JNJ) by 0.3% during the 4th quarter, HoldingsChannel reports. The firm owned 100,623 shares of the company’s stock after selling 313 shares during the period. Johnson & Johnson comprises 3.0% of Cardinal Capital Management’s holdings, making the stock its 3rd largest position. Cardinal Capital Management’s holdings in Johnson & Johnson were worth $15,772,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in JNJ. DORCHESTER WEALTH MANAGEMENT Co increased its position in Johnson & Johnson by 8.6% in the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 67,618 shares of the company’s stock valued at $14,975,000 after acquiring an additional 5,327 shares during the period. Cantor Fitzgerald Investment Advisor L.P increased its position in Johnson & Johnson by 88.9% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 175,194 shares of the company’s stock valued at $31,049,000 after acquiring an additional 82,429 shares during the period. AMI Investment Management Inc. increased its position in Johnson & Johnson by 8.8% in the 1st quarter. AMI Investment Management Inc. now owns 18,305 shares of the company’s stock valued at $3,244,000 after acquiring an additional 1,475 shares during the period. Equitable Holdings Inc. increased its position in Johnson & Johnson by 4.9% in the 1st quarter. Equitable Holdings Inc. now owns 45,673 shares of the company’s stock valued at $8,095,000 after acquiring an additional 2,119 shares during the period. Finally, USS Investment Management Ltd increased its position in Johnson & Johnson by 2.4% in the 1st quarter. USS Investment Management Ltd now owns 860,371 shares of the company’s stock valued at $152,488,000 after acquiring an additional 20,528 shares during the period. Institutional investors own 69.55% of the company’s stock.

Insider Transactions at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 59,397 shares of Johnson & Johnson stock in a transaction on 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 sale, the executive vice president now owns 141,416 shares of the company’s stock, valued at $22,099,078.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, major shareholder & Johnson Johnson sold 3,725 shares of Johnson & Johnson stock in a transaction on Friday, February 16th. The stock was sold at an average price of $25.81, for a total transaction of $96,142.25. Following the completion of the sale, the insider now owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The transaction was disclosed in a legal filing with the SEC, which is available through 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 shares were sold at an average price of $156.27, for a total value of $9,281,969.19. Following the transaction, the executive vice president now owns 141,416 shares in the company, valued at $22,099,078.32. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by insiders.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock opened at $144.45 on Wednesday. The stock has a market cap of $348.09 billion, a PE ratio of 10.46, a price-to-earnings-growth ratio of 2.48 and a beta of 0.53. The business has a fifty day simple moving average of $156.80 and a 200-day simple moving average of $155.82. 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 12 month low of $143.39 and a 12 month high of $175.97.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, topping the consensus estimate of $2.64 by $0.07. The business had revenue of $21.38 billion during the quarter, compared to analysts’ expectations of $21.39 billion. Johnson & Johnson had a return on equity of 37.27% and a net margin of 37.79%. Johnson & Johnson’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.68 earnings per share. On average, sell-side analysts anticipate that Johnson & Johnson will post 10.66 EPS for the current fiscal 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 given a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Monday, May 20th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio (DPR) is 34.47%.

Analysts Set New Price Targets

JNJ has been the topic of several analyst reports. Raymond James raised their target price on Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, January 3rd. Morgan Stanley lowered their price target on Johnson & Johnson from $170.00 to $169.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 24th. Royal Bank of Canada reiterated an “outperform” rating and set a $181.00 price target on shares of Johnson & Johnson in a research report on Wednesday, February 28th. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 6th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research report on Monday. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus target price of $177.31.

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.