Cardinal Capital Management Increases Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Cardinal Capital Management raised its holdings in Johnson & Johnson (NYSE:JNJ) by 5.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 106,239 shares of the company’s stock after purchasing an additional 5,616 shares during the period. Johnson & Johnson accounts for about 2.7% of Cardinal Capital Management’s holdings, making the stock its 3rd biggest position. Cardinal Capital Management’s holdings in Johnson & Johnson were worth $16,806,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of JNJ. Keener Financial Planning LLC purchased a new position in shares of Johnson & Johnson during the 4th quarter valued at $40,000. WFA Asset Management Corp grew its position in Johnson & Johnson by 61.4% during the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after buying an additional 97 shares in the last quarter. Vermillion & White Wealth Management Group LLC bought a new position in Johnson & Johnson in the 4th quarter worth about $44,000. Disciplined Equity Management Inc. bought a new stake in shares of Johnson & Johnson during the 4th quarter valued at about $45,000. Finally, Grayhawk Investment Strategies Inc. grew its holdings in shares of Johnson & Johnson by 528.6% during the fourth quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after purchasing an additional 259 shares in the last quarter. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Down 0.7 %

Shares of NYSE:JNJ opened at $145.82 on Friday. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $175.97. The company has a market cap of $350.94 billion, a PE ratio of 9.09, a P/E/G ratio of 2.44 and a beta of 0.53. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94. The stock’s 50-day moving average is $148.17 and its 200 day moving average is $154.19.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The company had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.39 billion. During the same quarter in the previous year, the business earned $2.68 EPS. Johnson & Johnson’s revenue was up 2.3% compared to the same quarter last year. Sell-side analysts anticipate that Johnson & Johnson will post 10.62 EPS for the current year.

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were issued a dividend of $1.24 per share. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend was Monday, May 20th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.40%. Johnson & Johnson’s dividend payout ratio is 30.92%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on JNJ shares. StockNews.com lowered shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 22nd. Bank of America cut their target price on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. The Goldman Sachs Group started coverage on Johnson & Johnson in a research note on Thursday, May 30th. They issued a “neutral” rating and a $160.00 target price for the company. Morgan Stanley reduced their price target on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 target price on shares of Johnson & Johnson in a report on Monday, June 17th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Hold” and an average price target of $174.07.

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.