Mackenzie Financial Corp Trims Stake in Johnson & Johnson (NYSE:JNJ)

Mackenzie Financial Corp cut its stake in Johnson & Johnson (NYSE:JNJ) by 7.3% during the fourth quarter, HoldingsChannel reports. The fund owned 3,105,606 shares of the company’s stock after selling 243,789 shares during the quarter. Mackenzie Financial Corp’s holdings in Johnson & Johnson were worth $449,133,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MRP Capital Investments LLC lifted its holdings in shares of Johnson & Johnson by 4.1% in the 4th quarter. MRP Capital Investments LLC now owns 1,640 shares of the company’s stock valued at $237,000 after buying an additional 65 shares during the period. Syverson Strege & Co grew its position in shares of Johnson & Johnson by 4.9% in the fourth quarter. Syverson Strege & Co now owns 1,394 shares of the company’s stock valued at $202,000 after purchasing an additional 65 shares in the last quarter. Werba Rubin Papier Wealth Management lifted its holdings in Johnson & Johnson by 3.3% in the fourth quarter. Werba Rubin Papier Wealth Management now owns 2,080 shares of the company’s stock valued at $301,000 after acquiring an additional 66 shares during the last quarter. Denali Advisors LLC lifted its stake in Johnson & Johnson by 1.3% during the fourth quarter. Denali Advisors LLC now owns 5,128 shares of the company’s stock worth $742,000 after purchasing an additional 67 shares in the last quarter. Finally, Sage Mountain Advisors LLC increased its holdings in Johnson & Johnson by 0.5% in the fourth quarter. Sage Mountain Advisors LLC now owns 14,564 shares of the company’s stock valued at $2,106,000 after buying an additional 67 shares during the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 6,999 shares of Johnson & Johnson stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the completion of the sale, the vice president now directly owns 21,001 shares in the company, valued at $3,483,645.88. The trade was a 25.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group upgraded shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and raised their price objective for the company from $157.00 to $172.00 in a research report on Wednesday, April 9th. Raymond James dropped their price objective on shares of Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Argus raised shares of Johnson & Johnson to a “strong-buy” rating in a research note on Friday, January 24th. Finally, Wall Street Zen cut shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Eleven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $170.88.

Johnson & Johnson Trading Up 0.3%

JNJ stock opened at $153.12 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99. The company has a market capitalization of $368.41 billion, a PE ratio of 23.02, a price-to-earnings-growth ratio of 2.56 and a beta of 0.42. The company’s 50-day simple moving average is $155.24 and its 200 day simple moving average is $153.72.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.18. The business had revenue of $21.89 billion during the quarter, compared to analyst estimates of $21.65 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.24. This represents a $5.20 annualized dividend and a yield of 3.40%. Johnson & Johnson’s dividend payout ratio is 57.84%.

Johnson & Johnson Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.