CIBC Asset Management Inc Purchases 33,454 Shares of Johnson & Johnson (NYSE:JNJ)

CIBC Asset Management Inc grew its holdings in Johnson & Johnson (NYSE:JNJ) by 5.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 634,722 shares of the company’s stock after buying an additional 33,454 shares during the quarter. CIBC Asset Management Inc’s holdings in Johnson & Johnson were worth $102,851,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. FUKOKU MUTUAL LIFE INSURANCE Co lifted its holdings in Johnson & Johnson by 0.3% during the 3rd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 129,872 shares of the company’s stock worth $21,047,000 after purchasing an additional 410 shares in the last quarter. Intellectus Partners LLC lifted its holdings in shares of Johnson & Johnson by 5.2% in the third quarter. Intellectus Partners LLC now owns 9,315 shares of the company’s stock worth $1,510,000 after buying an additional 461 shares in the last quarter. Balboa Wealth Partners boosted its position in shares of Johnson & Johnson by 3.7% in the third quarter. Balboa Wealth Partners now owns 7,549 shares of the company’s stock valued at $1,223,000 after acquiring an additional 267 shares during the period. Oak Harbor Wealth Partners LLC grew its stake in Johnson & Johnson by 2.6% during the third quarter. Oak Harbor Wealth Partners LLC now owns 30,359 shares of the company’s stock valued at $4,920,000 after acquiring an additional 760 shares in the last quarter. Finally, Neumann Capital Management LLC lifted its stake in Johnson & Johnson by 1.1% in the 3rd quarter. Neumann Capital Management LLC now owns 13,319 shares of the company’s stock worth $2,158,000 after purchasing an additional 140 shares in the last quarter. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Price Performance

NYSE JNJ opened at $151.86 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $365.62 billion, a P/E ratio of 21.98, a PEG ratio of 2.72 and a beta of 0.53. The company has a 50-day moving average price of $161.82 and a 200-day moving average price of $155.99. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.21. The business had revenue of $22.47 billion for the quarter, compared to analysts’ expectations of $22.17 billion. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.66 EPS. Equities research analysts anticipate that Johnson & Johnson will post 9.93 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be given a dividend of $1.24 per share. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.27%. Johnson & Johnson’s payout ratio is currently 71.78%.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the transaction, the vice president now owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The trade was a 22.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on JNJ. Guggenheim upped their target price on Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. TD Securities reduced their price target on Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a report on Wednesday, October 16th. Daiwa America cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Morgan Stanley lifted their price target on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $175.94.

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.