Canoe Financial LP Increases Stake in Johnson & Johnson (NYSE:JNJ)

Canoe Financial LP increased its position in shares of Johnson & Johnson (NYSE:JNJ) by 3.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 92,626 shares of the company’s stock after buying an additional 2,900 shares during the period. Canoe Financial LP’s holdings in Johnson & Johnson were worth $13,396,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vinva Investment Management Ltd lifted its holdings in Johnson & Johnson by 6.8% during the 3rd quarter. Vinva Investment Management Ltd now owns 111,448 shares of the company’s stock worth $17,988,000 after buying an additional 7,110 shares during the last quarter. Financial Counselors Inc. raised its position in shares of Johnson & Johnson by 5.3% during the 3rd quarter. Financial Counselors Inc. now owns 185,093 shares of the company’s stock worth $29,996,000 after acquiring an additional 9,309 shares in the last quarter. Meridian Investment Counsel Inc. lifted its stake in Johnson & Johnson by 19.6% during the third quarter. Meridian Investment Counsel Inc. now owns 22,629 shares of the company’s stock worth $3,667,000 after purchasing an additional 3,710 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Johnson & Johnson by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock valued at $2,858,543,000 after purchasing an additional 102,502 shares in the last quarter. Finally, Lord Abbett & CO. LLC purchased a new position in Johnson & Johnson in the third quarter valued at approximately $69,859,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

Shares of JNJ opened at $147.03 on Monday. The firm has a market capitalization of $353.99 billion, a PE ratio of 21.28, a P/E/G ratio of 2.30 and a beta of 0.51. The stock’s 50 day moving average is $148.51 and its two-hundred day moving average is $156.03. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $168.85. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio is presently 71.78%.

Insiders Place Their Bets

In related news, Director Mark A. Weinberger purchased 1,000 shares of the stock in a transaction dated Thursday, December 12th. The shares were acquired at an average cost of $147.22 per share, with a total value of $147,220.00. Following the purchase, the director now directly owns 1,000 shares in the company, valued at $147,220. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.16% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on JNJ shares. Wells Fargo & Company upped their target price on shares of Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Citigroup cut their target price on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Royal Bank of Canada lifted their price target on Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a report on Wednesday, October 16th. Finally, Wolfe Research assumed coverage on shares of Johnson & Johnson in a report on Friday, November 15th. They issued an “outperform” rating and a $190.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Johnson & Johnson presently has an average rating of “Moderate Buy” and an average target price of $174.29.

Johnson & Johnson 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.