Cannon Financial Strategists Inc. Has $366,000 Position in Johnson & Johnson (NYSE:JNJ)

Cannon Financial Strategists Inc. lessened its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 12.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 2,334 shares of the company’s stock after selling 327 shares during the period. Cannon Financial Strategists Inc.’s holdings in Johnson & Johnson were worth $366,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the stock. Marshall Wace LLP lifted its stake in Johnson & Johnson by 506.9% in the second quarter. Marshall Wace LLP now owns 3,884,962 shares of the company’s stock valued at $567,826,000 after buying an additional 3,244,862 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Johnson & Johnson by 16.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock valued at $3,453,978,000 after acquiring an additional 3,139,499 shares during the period. Ninety One UK Ltd grew its holdings in Johnson & Johnson by 59.0% during the second quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock valued at $980,579,000 after purchasing an additional 2,489,925 shares during the period. Swedbank AB bought a new position in shares of Johnson & Johnson during the first quarter worth $331,178,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Johnson & Johnson by 10.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock worth $2,744,979,000 after acquiring an additional 1,831,751 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on JNJ shares. Morgan Stanley increased their target price on Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Wells Fargo & Company raised their price objective on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Royal Bank of Canada upped their target price on shares of Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Daiwa America lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Finally, Sanford C. Bernstein increased their price objective on Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $175.93.

Insider Buying and Selling

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the sale, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.16% of the stock is owned by insiders.

Johnson & Johnson Stock Up 0.4 %

JNJ opened at $165.12 on Monday. 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’s fifty day simple moving average is $162.98 and its 200 day simple moving average is $154.69. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85. The stock has a market cap of $397.39 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The business had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. During the same quarter in the previous year, the firm posted $2.66 EPS. Johnson & Johnson’s revenue was up 5.2% compared to the same quarter last year. As a group, research analysts expect that Johnson & Johnson will post 10 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be given a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.00%. Johnson & Johnson’s payout ratio is presently 30.92%.

Johnson & Johnson Company 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.