First Allied Advisory Services Inc. grew its holdings in Canon, Inc. (NYSE:CAJ) by 8.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,686 shares of the technology company’s stock after acquiring an additional 651 shares during the quarter. First Allied Advisory Services Inc.’s holdings in Canon were worth $298,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in CAJ. Proficio Capital Partners LLC boosted its position in shares of Canon by 301.8% in the first quarter. Proficio Capital Partners LLC now owns 3,275 shares of the technology company’s stock valued at $111,000 after acquiring an additional 2,460 shares during the period. Sei Investments Co. raised its stake in Canon by 67.5% in the second quarter. Sei Investments Co. now owns 4,732 shares of the technology company’s stock valued at $161,000 after purchasing an additional 1,907 shares in the last quarter. Advisor Group Inc. raised its stake in Canon by 5.4% in the second quarter. Advisor Group Inc. now owns 5,159 shares of the technology company’s stock valued at $175,000 after purchasing an additional 263 shares in the last quarter. Jarislowsky Fraser Ltd acquired a new position in Canon in the second quarter valued at about $204,000. Finally, Eqis Capital Management Inc. acquired a new position in Canon in the second quarter valued at about $233,000. 1.20% of the stock is owned by institutional investors.
CAJ has been the subject of a number of analyst reports. BidaskClub downgraded Canon from a “buy” rating to a “hold” rating in a research note on Wednesday, June 28th. Zacks Investment Research raised Canon from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a research note on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $39.00.
Canon, Inc. (CAJ) opened at 34.55 on Monday. The firm has a market cap of $37.31 billion, a P/E ratio of 21.09 and a beta of 0.42. The company has a 50-day moving average price of $34.52 and a 200-day moving average price of $33.88. Canon, Inc. has a 1-year low of $27.76 and a 1-year high of $35.91.
Canon (NYSE:CAJ) last issued its earnings results on Thursday, July 27th. The technology company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.56 by $0.01. Canon had a return on equity of 6.48% and a net margin of 5.17%. The business had revenue of $8.86 billion during the quarter, compared to the consensus estimate of $9.40 billion. On average, equities research analysts forecast that Canon, Inc. will post $1.62 EPS for the current fiscal year.
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Canon Company Profile
Canon Inc (Canon) is a manufacturer of office multifunction devices (MFDs), plain paper copying machines, laser printers, inkjet printers, cameras and lithography equipment. Canon sells its products principally under the Canon brand name and through sales subsidiaries. Each of these subsidiaries is responsible for marketing and distribution to retail dealers in an assigned territory.
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