Cannon Financial Strategists Inc. Purchases New Holdings in Johnson & Johnson (NYSE:JNJ)

Cannon Financial Strategists Inc. purchased a new stake in shares of Johnson & Johnson (NYSE:JNJ) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 2,661 shares of the company’s stock, valued at approximately $389,000.

A number of other large investors also recently bought and sold shares of the business. Wellington Management Group LLP lifted its position in Johnson & Johnson by 16.4% during the 4th quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after acquiring an additional 3,391,657 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Johnson & Johnson by 16.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock worth $3,453,978,000 after buying an additional 3,139,499 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Johnson & Johnson by 10.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock worth $2,744,979,000 after buying an additional 1,831,751 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Johnson & Johnson by 5.5% in the second quarter. Ameriprise Financial Inc. now owns 14,374,397 shares of the company’s stock worth $2,100,427,000 after buying an additional 754,200 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Johnson & Johnson by 16.2% in the second quarter. Dimensional Fund Advisors LP now owns 13,147,352 shares of the company’s stock worth $1,921,565,000 after buying an additional 1,829,257 shares during the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on JNJ. Morgan Stanley lifted their target price on shares of Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Daiwa Capital Markets lowered shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Daiwa America lowered shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Monday. Finally, StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and a consensus target price of $173.21.

Insiders Place Their Bets

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the transaction, the vice president now directly owns 18,973 shares in the company, valued at $3,131,683.38. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ opened at $162.02 on Wednesday. The firm has a 50 day moving average of $162.50 and a 200 day moving average of $154.21. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $389.93 billion, a price-to-earnings ratio of 10.10, a price-to-earnings-growth ratio of 2.69 and a beta of 0.53. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. The business had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The company’s revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.80 earnings per share. On average, research analysts anticipate that Johnson & Johnson will post 10.02 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were given a $1.24 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.06%. Johnson & Johnson’s payout ratio is currently 30.92%.

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.