Cannon Financial Strategists Inc. Boosts Holdings in Johnson & Johnson (NYSE:JNJ)

Cannon Financial Strategists Inc. boosted its position in shares of Johnson & Johnson (NYSE:JNJ) by 7.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,701 shares of the company’s stock after acquiring an additional 178 shares during the period. Cannon Financial Strategists Inc.’s holdings in Johnson & Johnson were worth $391,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. IFS Advisors LLC raised its holdings in shares of Johnson & Johnson by 138.9% in the fourth quarter. IFS Advisors LLC now owns 172 shares of the company’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Highline Wealth Partners LLC purchased a new position in shares of Johnson & Johnson in the third quarter worth $31,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Johnson & Johnson in the third quarter worth $35,000. Bay Harbor Wealth Management LLC purchased a new position in shares of Johnson & Johnson in the fourth quarter worth $32,000. Finally, Mowery & Schoenfeld Wealth Management LLC raised its holdings in shares of Johnson & Johnson by 58.7% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after buying an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Up 1.7 %

Shares of NYSE JNJ opened at $162.35 on Friday. The company’s 50-day simple moving average is $148.93 and its 200-day simple moving average is $155.88. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $168.85. The firm has a market cap of $390.87 billion, a price-to-earnings ratio of 24.41, a price-to-earnings-growth ratio of 2.56 and a beta of 0.52. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.05. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The business had revenue of $22.52 billion for the quarter, compared to analyst estimates of $22.44 billion. During the same quarter last year, the business earned $2.29 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities analysts predict that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be given a $1.24 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $4.96 annualized dividend and a dividend yield of 3.06%. Johnson & Johnson’s dividend payout ratio (DPR) is 74.59%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on JNJ shares. Argus raised shares of Johnson & Johnson to a “strong-buy” rating in a report on Friday, January 24th. Wells Fargo & Company reduced their target price on shares of Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Guggenheim raised their target price on shares of Johnson & Johnson from $162.00 to $166.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Barclays raised their target price on shares of Johnson & Johnson from $159.00 to $166.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 28th. Finally, Morgan Stanley reduced their target price on shares of Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Nine 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 stock. According to MarketBeat.com, Johnson & Johnson presently has an average rating of “Moderate Buy” and a consensus target price of $170.67.

Insider Activity

In other Johnson & Johnson news, Director Mark A. Weinberger purchased 1,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were purchased at an average cost of $147.22 per share, with a total value of $147,220.00. Following the completion of the purchase, the director now owns 1,000 shares in the company, valued at approximately $147,220. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Timothy Schmid sold 403 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total transaction of $62,928.45. Following the completion of the transaction, the executive vice president now directly owns 15,098 shares in the company, valued at approximately $2,357,552.70. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

About Johnson & Johnson

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.