Canal Capital Management LLC Reduces Position in Johnson & Johnson (NYSE:JNJ)

Canal Capital Management LLC lessened its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 11.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 41,939 shares of the company's stock after selling 5,416 shares during the quarter. Canal Capital Management LLC's holdings in Johnson & Johnson were worth $6,065,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. IFS Advisors LLC raised its stake in 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 in the last quarter. WealthTrak Capital Management LLC bought a new position in shares of Johnson & Johnson in the 4th quarter worth $26,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Johnson & Johnson during the 4th quarter worth $29,000. Bay Harbor Wealth Management LLC bought a new stake in Johnson & Johnson during the fourth quarter valued at about $32,000. Finally, Conquis Financial LLC purchased a new position in Johnson & Johnson in the fourth quarter valued at about $33,000. Hedge funds and other institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Performance

Shares of NYSE:JNJ traded down $2.40 during midday trading on Wednesday, reaching $155.35. The company's stock had a trading volume of 9,097,317 shares, compared to its average volume of 7,923,271. The firm has a market capitalization of $374.36 billion, a PE ratio of 23.36, a P/E/G ratio of 2.56 and a beta of 0.49. The stock has a fifty day moving average of $159.52 and a 200 day moving average of $154.95. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99. 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 - Get Free Report) last issued its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.18. The business had revenue of $21.89 billion during the quarter, compared to analysts' expectations of $21.65 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. On average, equities analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend is Tuesday, May 27th. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.24. Johnson & Johnson's payout ratio is currently 57.84%.

Wall Street Analyst Weigh In

JNJ has been the topic of a number of analyst reports. Morgan Stanley lifted their price objective on shares of Johnson & Johnson from $164.00 to $169.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 16th. Guggenheim reaffirmed a "neutral" rating on shares of Johnson & Johnson in a research report on Wednesday, April 2nd. Wells Fargo & Company decreased their price objective on Johnson & Johnson from $166.00 to $152.00 and set an "equal weight" rating for the company in a report on Thursday, January 23rd. Stifel Nicolaus dropped their target price on Johnson & Johnson from $170.00 to $155.00 and set a "hold" rating on the stock in a research note on Thursday, January 23rd. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $181.00 price target on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $171.82.

Insiders Place Their Bets

In other Johnson & Johnson news, VP Robert J. Decker sold 6,999 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the completion of the transaction, the vice president now owns 21,001 shares of the company's stock, valued at $3,483,645.88. This represents a 25.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Timothy Schmid sold 403 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $156.15, for a total value of $62,928.45. Following the completion of the transaction, the executive vice president now owns 15,098 shares in the company, valued at approximately $2,357,552.70. This trade represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by company insiders.

Johnson & Johnson Company 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.