Johnson & Johnson (NYSE:JNJ) Shares Purchased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lifted its holdings in Johnson & Johnson (NYSE:JNJ) by 14.6% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,996,782 shares of the company’s stock after purchasing an additional 509,619 shares during the period. Canada Pension Plan Investment Board owned approximately 0.17% of Johnson & Johnson worth $584,170,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in JNJ. Benjamin F. Edwards & Company Inc. grew its holdings in Johnson & Johnson by 5.5% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 111,097 shares of the company’s stock worth $16,238,000 after acquiring an additional 5,742 shares in the last quarter. Retirement Investment Advisors Inc. acquired a new position in Johnson & Johnson during the 2nd quarter worth approximately $208,000. Trust Investment Advisors acquired a new position in Johnson & Johnson during the 2nd quarter worth approximately $291,000. Brighton Jones LLC grew its holdings in Johnson & Johnson by 35.9% during the 2nd quarter. Brighton Jones LLC now owns 49,470 shares of the company’s stock worth $7,231,000 after acquiring an additional 13,078 shares in the last quarter. Finally, Burgundy Asset Management Ltd. grew its holdings in Johnson & Johnson by 15.6% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 1,342,734 shares of the company’s stock worth $196,254,000 after acquiring an additional 180,918 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Down 0.8 %

JNJ stock opened at $164.82 on Friday. The company has a fifty day moving average price of $161.02 and a 200 day moving average price of $154.17. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85. The company has a market cap of $396.67 billion, a price-to-earnings ratio of 10.28, a price-to-earnings-growth ratio of 2.71 and a beta of 0.53. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, beating the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The firm had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. During the same quarter in the prior year, the firm earned $2.80 EPS. Johnson & Johnson’s revenue for the quarter was up 4.3% on a year-over-year basis. Sell-side analysts expect that Johnson & Johnson will post 10.02 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were paid a $1.24 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 3.01%. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Analyst Ratings Changes

JNJ has been the subject of several analyst reports. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. TD Securities reduced their price objective on shares of Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Monday. Royal Bank of Canada restated an “outperform” rating and set a $175.00 price objective on shares of Johnson & Johnson in a research report on Tuesday, July 30th. Finally, Daiwa Capital Markets downgraded shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.21.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction 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 transaction, the vice president now directly owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is currently owned by corporate insiders.

About Johnson & Johnson

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.