Mackenzie Financial Corp Raises Stock Position in Johnson & Johnson (NYSE:JNJ)

Mackenzie Financial Corp increased its holdings in Johnson & Johnson (NYSE:JNJ) by 1.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,441,335 shares of the company’s stock after purchasing an additional 57,511 shares during the quarter. Mackenzie Financial Corp’s holdings in Johnson & Johnson were worth $502,986,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of JNJ. Innealta Capital LLC purchased a new position in shares of Johnson & Johnson during the second quarter valued at approximately $27,000. MFA Wealth Advisors LLC purchased a new stake in Johnson & Johnson during the second quarter worth approximately $43,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Johnson & Johnson in the fourth quarter valued at about $44,000. Fairfield Financial Advisors LTD purchased a new stake in Johnson & Johnson during the 2nd quarter worth $46,000. Finally, Grayhawk Investment Strategies Inc. boosted its stake in shares of Johnson & Johnson by 528.6% during the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock valued at $48,000 after buying an additional 259 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Up 0.5 %

Shares of NYSE:JNJ opened at $161.35 on Friday. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85. The company has a fifty day moving average of $162.02 and a 200-day moving average of $154.27. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07. The company has a market capitalization of $388.32 billion, a PE ratio of 10.06, a price-to-earnings-growth ratio of 2.69 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The company had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. During the same quarter last year, the firm posted $2.80 EPS. The company’s quarterly revenue was up 4.3% on a year-over-year basis. On average, equities analysts predict that Johnson & Johnson will post 10.02 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were issued a dividend of $1.24 per share. The ex-dividend date was Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 3.07%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 30.92%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on JNJ shares. Sanford C. Bernstein lifted their target price on Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. The Goldman Sachs Group decreased their price target on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company 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 decreased their price target for the stock from $160.00 to $150.00 in a report on Tuesday, July 23rd. TD Securities lowered their target price on shares of Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Monday. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $173.21.

Insider Activity

In other news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction on Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the sale, the vice president now directly owns 18,973 shares in the company, valued at approximately $3,131,683.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is currently owned by corporate insiders.

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.