CIBC Asset Management Inc Sells 219,436 Shares of Johnson & Johnson (NYSE:JNJ)

CIBC Asset Management Inc lessened its holdings in shares of Johnson & Johnson (NYSE:JNJFree Report) by 18.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 959,556 shares of the company’s stock after selling 219,436 shares during the period. CIBC Asset Management Inc’s holdings in Johnson & Johnson were worth $150,401,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Keener Financial Planning LLC acquired a new position in shares of Johnson & Johnson during the fourth quarter valued at $40,000. WFA Asset Management Corp lifted its stake in shares of Johnson & Johnson by 61.4% during the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after acquiring an additional 97 shares during the period. Disciplined Equity Management Inc. acquired a new position in shares of Johnson & Johnson during the fourth quarter valued at $45,000. Altshuler Shaham Ltd lifted its stake in Johnson & Johnson by 37.8% in the third quarter. Altshuler Shaham Ltd now owns 317 shares of the company’s stock valued at $49,000 after buying an additional 87 shares during the period. Finally, Pacific Capital Wealth Advisors Inc. acquired a new position in Johnson & Johnson in the fourth quarter valued at about $61,000. Institutional investors own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on JNJ shares. HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and raised their price target for the stock from $169.00 to $170.00 in a research report on Thursday, April 18th. Bank of America decreased their price objective on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. The Goldman Sachs Group started coverage on Johnson & Johnson in a report on Thursday, May 30th. They set a “neutral” rating and a $160.00 price objective for the company. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Monday, May 6th. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $174.07.

Check Out Our Latest Research Report on JNJ

Johnson & Johnson Price Performance

Shares of JNJ traded down $0.98 during midday trading on Tuesday, hitting $146.76. The company’s stock had a trading volume of 4,443,914 shares, compared to its average volume of 7,468,549. Johnson & Johnson has a one year low of $143.13 and a one year high of $175.97. The company’s fifty day simple moving average is $150.13 and its two-hundred day simple moving average is $155.01. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $353.20 billion, a price-to-earnings ratio of 9.17, a price-to-earnings-growth ratio of 2.44 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJGet Free Report) last issued its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. The business had revenue of $21.38 billion for the quarter, compared to analyst estimates of $21.39 billion. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. Johnson & Johnson’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.68 EPS. As a group, equities analysts expect that Johnson & Johnson will post 10.64 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Monday, May 20th. This represents a $4.96 dividend on an annualized basis and a yield of 3.38%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s payout ratio is currently 30.92%.

About Johnson & Johnson

(Free Report)

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.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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