Addenda Capital Inc. Has $10.73 Million Holdings in Johnson & Johnson (NYSE:JNJ)

Addenda Capital Inc. boosted its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 11.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,857 shares of the company’s stock after buying an additional 6,989 shares during the quarter. Addenda Capital Inc.’s holdings in Johnson & Johnson were worth $10,734,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Keener Financial Planning LLC bought a new stake in shares of Johnson & Johnson in the fourth quarter valued at approximately $40,000. WFA Asset Management Corp lifted its stake in Johnson & Johnson by 61.4% during the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after purchasing an additional 97 shares during the last quarter. Vermillion & White Wealth Management Group LLC bought a new stake in Johnson & Johnson during the fourth quarter worth $44,000. Disciplined Equity Management Inc. bought a new stake in Johnson & Johnson during the fourth quarter worth $45,000. Finally, Grayhawk Investment Strategies Inc. lifted its stake in Johnson & Johnson by 528.6% during the fourth quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after purchasing an additional 259 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $146.16 on Friday. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $175.97. The stock has a market cap of $351.76 billion, a price-to-earnings ratio of 9.11, a PEG ratio of 2.43 and a beta of 0.53. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 1.17. The firm’s 50-day simple moving average is $148.14 and its 200 day simple moving average is $154.07.

Johnson & Johnson (NYSE:JNJ) last posted 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. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The firm had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.39 billion. During the same quarter last year, the firm earned $2.68 EPS. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, research analysts anticipate that Johnson & Johnson will post 10.62 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were given a dividend of $1.24 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $4.96 annualized dividend and a dividend yield of 3.39%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio (DPR) is currently 30.92%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Bank of America dropped their price target on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and increased their price target for the company from $169.00 to $170.00 in a research note on Thursday, April 18th. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price objective on shares of Johnson & Johnson in a report on Monday, June 17th. Morgan Stanley decreased their price objective on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Finally, The Goldman Sachs Group initiated coverage on Johnson & Johnson in a report on Thursday, May 30th. They set a “neutral” rating and a $160.00 price target for the company. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Johnson & Johnson has an average rating of “Hold” and an average target price of $174.07.

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.