Cannon Financial Strategists Inc. Invests $389,000 in Johnson & Johnson (NYSE:JNJ)

Cannon Financial Strategists Inc. bought a new position in Johnson & Johnson (NYSE:JNJ) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,661 shares of the company’s stock, valued at approximately $389,000.

Other hedge funds have also recently modified their holdings of the company. Meridian Financial Partners LLC purchased a new position in shares of Johnson & Johnson in the second quarter worth $1,626,000. Summit Financial Wealth Advisors LLC raised its stake in Johnson & Johnson by 26.3% during the first quarter. Summit Financial Wealth Advisors LLC now owns 5,392 shares of the company’s stock valued at $853,000 after purchasing an additional 1,122 shares in the last quarter. Franklin Parlapiano Turner & Welch LLC raised its stake in Johnson & Johnson by 0.7% during the first quarter. Franklin Parlapiano Turner & Welch LLC now owns 47,186 shares of the company’s stock valued at $7,464,000 after purchasing an additional 325 shares in the last quarter. Capital Asset Advisory Services LLC raised its stake in Johnson & Johnson by 8.8% during the first quarter. Capital Asset Advisory Services LLC now owns 26,539 shares of the company’s stock valued at $4,044,000 after purchasing an additional 2,151 shares in the last quarter. Finally, NTV Asset Management LLC raised its stake in Johnson & Johnson by 1.6% during the first quarter. NTV Asset Management LLC now owns 36,000 shares of the company’s stock valued at $5,695,000 after purchasing an additional 565 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on JNJ shares. Sanford C. Bernstein upped their price target on shares of Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. TD Securities decreased their price target on shares of Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. The Goldman Sachs Group cut their price objective on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Daiwa Capital Markets cut shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Finally, StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus target price of $173.21.

Johnson & Johnson Trading Down 0.0 %

NYSE JNJ opened at $162.02 on Wednesday. The company’s 50-day moving average price is $162.50 and its 200-day moving average price is $154.21. 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 stock has a market cap of $389.93 billion, a PE ratio of 10.10, a PEG ratio of 2.69 and a beta of 0.53. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The firm had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $22.33 billion. During the same period in the prior year, the business posted $2.80 earnings per share. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. Equities research analysts forecast that Johnson & Johnson will post 10.02 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.06%. The ex-dividend date was Tuesday, August 27th. Johnson & Johnson’s payout ratio is 30.92%.

Insiders Place Their Bets

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the sale, the vice president now directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.16% of the stock is owned by company insiders.

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.