Canoe Financial LP Increases Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Canoe Financial LP raised its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 3.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,626 shares of the company's stock after purchasing an additional 2,900 shares during the period. Canoe Financial LP's holdings in Johnson & Johnson were worth $13,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in JNJ. State Street Corp increased its holdings in Johnson & Johnson by 0.9% in the third quarter. State Street Corp now owns 134,245,811 shares of the company's stock valued at $21,755,874,000 after buying an additional 1,154,088 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Johnson & Johnson by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 56,106,884 shares of the company's stock worth $9,064,149,000 after acquiring an additional 1,004,763 shares in the last quarter. FMR LLC increased its holdings in shares of Johnson & Johnson by 7.4% in the 3rd quarter. FMR LLC now owns 18,316,920 shares of the company's stock valued at $2,968,440,000 after acquiring an additional 1,265,748 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Johnson & Johnson by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company's stock worth $2,858,543,000 after purchasing an additional 102,502 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Johnson & Johnson by 11.4% in the third quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company's stock valued at $2,721,355,000 after purchasing an additional 1,729,281 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company's stock.

Insider Transactions at Johnson & Johnson

In related news, Director Mark A. Weinberger acquired 1,000 shares of the firm's stock in a transaction that occurred on Thursday, December 12th. The shares were purchased at an average price of $147.22 per share, with a total value of $147,220.00. Following the completion of the acquisition, the director now owns 1,000 shares in the company, valued at approximately $147,220. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.16% of the company's stock.

Johnson & Johnson Stock Performance

Shares of JNJ stock traded down $0.74 during mid-day trading on Monday, hitting $147.03. The stock had a trading volume of 10,678,393 shares, compared to its average volume of 6,880,262. The firm has a market cap of $353.99 billion, a PE ratio of 21.28, a PEG ratio of 2.30 and a beta of 0.51. The company's 50-day simple moving average is $148.51 and its 200-day simple moving average is $156.10. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $168.85.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend is Tuesday, February 18th. Johnson & Johnson's dividend payout ratio is presently 71.78%.

Analysts Set New Price Targets

A number of research firms have weighed in on JNJ. Bank of America cut their price objective on shares of Johnson & Johnson from $166.00 to $160.00 and set a "neutral" rating on the stock in a report on Friday. Wolfe Research started coverage on shares of Johnson & Johnson in a research report on Friday, November 15th. They issued an "outperform" rating and a $190.00 price target for the company. Royal Bank of Canada raised their price objective on Johnson & Johnson from $178.00 to $181.00 and gave the stock an "outperform" rating in a report on Wednesday, October 16th. Citigroup reduced their target price on Johnson & Johnson from $185.00 to $175.00 and set a "buy" rating for the company in a report on Wednesday, December 11th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $215.00 price target on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $174.29.

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.