Johnson & Johnson (NYSE:JNJ) Shares Purchased by iA Global Asset Management Inc.

iA Global Asset Management Inc. boosted its position in Johnson & Johnson (NYSE:JNJ) by 27.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 319,787 shares of the company’s stock after purchasing an additional 68,372 shares during the period. Johnson & Johnson makes up about 0.9% of iA Global Asset Management Inc.’s portfolio, making the stock its 21st largest holding. iA Global Asset Management Inc.’s holdings in Johnson & Johnson were worth $51,825,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp boosted its stake in shares of Johnson & Johnson by 0.9% during the 3rd quarter. State Street Corp now owns 134,245,811 shares of the company’s stock worth $21,755,874,000 after acquiring an additional 1,154,088 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Johnson & Johnson by 10.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock valued at $2,744,979,000 after purchasing an additional 1,831,751 shares during the period. FMR LLC raised its holdings in Johnson & Johnson by 7.4% during the 3rd quarter. FMR LLC now owns 18,316,920 shares of the company’s stock worth $2,968,440,000 after buying an additional 1,265,748 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Johnson & Johnson by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock worth $2,858,543,000 after buying an additional 102,502 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in shares of Johnson & Johnson by 5.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 14,374,397 shares of the company’s stock valued at $2,100,427,000 after acquiring an additional 754,200 shares in the last quarter. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

JNJ opened at $149.28 on Friday. The stock has a market cap of $359.41 billion, a PE ratio of 21.60, a P/E/G ratio of 2.67 and a beta of 0.51. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $168.85. The stock’s 50 day simple moving average is $158.33 and its 200-day simple moving average is $156.36. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. The company had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the firm earned $2.66 EPS. Sell-side analysts forecast that Johnson & Johnson will post 9.93 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be given a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 annualized dividend and a yield of 3.32%. Johnson & Johnson’s payout ratio is 71.78%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Wells Fargo & Company upped their price target on Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Citigroup boosted their price target on shares of Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Royal Bank of Canada lifted their price objective on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Finally, StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $175.67.

Johnson & Johnson Company 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.