Johnson & Johnson (NYSE:JNJ) Shares Purchased by Cardinal Capital Management

Cardinal Capital Management boosted its stake in shares of Johnson & Johnson (NYSE:JNJ) by 3.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 111,345 shares of the company’s stock after buying an additional 3,892 shares during the quarter. Johnson & Johnson accounts for approximately 2.8% of Cardinal Capital Management’s portfolio, making the stock its 5th largest holding. Cardinal Capital Management’s holdings in Johnson & Johnson were worth $18,045,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Innealta Capital LLC acquired a new position in Johnson & Johnson during the second quarter worth $27,000. MFA Wealth Advisors LLC purchased a new stake in shares of Johnson & Johnson in the 2nd quarter worth about $43,000. Fairfield Financial Advisors LTD purchased a new position in Johnson & Johnson during the 2nd quarter valued at about $46,000. Fairway Wealth LLC lifted its holdings in shares of Johnson & Johnson by 217.1% in the second quarter. Fairway Wealth LLC now owns 333 shares of the company’s stock valued at $49,000 after purchasing an additional 228 shares in the last quarter. Finally, Quarry LP purchased a new stake in Johnson & Johnson in the 2nd quarter valued at approximately $49,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $164.49 on Friday. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $168.85. The firm has a market capitalization of $395.87 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 2.65 and a beta of 0.52. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The firm’s fifty day simple moving average is $162.89 and its 200 day simple moving average is $154.66.

Johnson & Johnson (NYSE:JNJ) last issued its 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. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The company had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. During the same quarter in the prior year, the business earned $2.66 earnings per share. The company’s revenue was up 5.2% compared to the same quarter last year. As a group, equities research analysts expect that Johnson & Johnson will post 10 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be paid 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 3.02%. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Citigroup lifted their target price on shares of Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday. TD Securities reduced their price target on Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. Royal Bank of Canada upped their target price on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Wells Fargo & Company lifted their price target on Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a report on Wednesday. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.93.

Insider Transactions at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction 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 sale, the vice president now owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.16% of the company’s stock.

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.