Cannon Financial Strategists Inc. Raises Stock Position in Johnson & Johnson (NYSE:JNJ)

Cannon Financial Strategists Inc. boosted its position in shares of Johnson & Johnson (NYSE:JNJ) by 7.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,701 shares of the company’s stock after buying an additional 178 shares during the quarter. Cannon Financial Strategists Inc.’s holdings in Johnson & Johnson were worth $391,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. IFS Advisors LLC raised its stake in Johnson & Johnson by 138.9% during the fourth quarter. IFS Advisors LLC now owns 172 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares during the period. Highline Wealth Partners LLC purchased a new position in Johnson & Johnson during the third quarter worth about $31,000. RPg Family Wealth Advisory LLC purchased a new position in Johnson & Johnson during the third quarter worth about $35,000. Bay Harbor Wealth Management LLC purchased a new position in Johnson & Johnson during the fourth quarter worth about $32,000. Finally, Mowery & Schoenfeld Wealth Management LLC raised its stake in shares of Johnson & Johnson by 58.7% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after acquiring an additional 91 shares during the period. 69.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Timothy Schmid sold 403 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $156.15, for a total value of $62,928.45. Following the completion of the sale, the executive vice president now owns 15,098 shares in the company, valued at $2,357,552.70. This represents a 2.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Weinberger purchased 1,000 shares of Johnson & Johnson stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average price of $147.22 per share, with a total value of $147,220.00. Following the transaction, the director now owns 1,000 shares in the company, valued at $147,220. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Barclays boosted their price target on shares of Johnson & Johnson from $159.00 to $166.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 28th. Raymond James reduced their price target on shares of Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Guggenheim boosted their price target on shares of Johnson & Johnson from $162.00 to $166.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Wells Fargo & Company reduced their price target on shares of Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Finally, Leerink Partners reduced their price target on shares of Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.67.

Johnson & Johnson Trading Up 1.7 %

NYSE JNJ opened at $162.35 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $168.85. The stock has a market capitalization of $390.87 billion, a PE ratio of 24.41, a price-to-earnings-growth ratio of 2.56 and a beta of 0.52. The firm has a 50 day moving average of $148.93 and a two-hundred day moving average of $155.88.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.99 by $0.05. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The company had revenue of $22.52 billion during the quarter, compared to analysts’ expectations of $22.44 billion. During the same quarter in the previous year, the business posted $2.29 EPS. The firm’s revenue was up 5.3% on a year-over-year basis. As a group, research analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Tuesday, February 18th. Johnson & Johnson’s payout ratio is 74.59%.

Johnson & Johnson Company Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.