Canoe Financial LP Has $11.63 Million Holdings in Johnson & Johnson $JNJ

Key Points

• Canoe Financial LP reduced its stake in Johnson & Johnson by 12.3% in Q2, now holding 76,126 shares valued at approximately $11.63 million.
• Analysts have raised target prices for Johnson & Johnson, with Bank of America setting a new target at $175, while JPMorgan and Citigroup both raised their targets to $200.
• Johnson & Johnson announced a quarterly dividend of $1.30 per share, with an annualized yield of 3.0% and a payout ratio of 55.61%.

Canoe Financial LP lowered its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 12.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,126 shares of the company's stock after selling 10,700 shares during the quarter. Canoe Financial LP's holdings in Johnson & Johnson were worth $11,628,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Highline Wealth Partners LLC increased its position in shares of Johnson & Johnson by 51.8% during the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock valued at $42,000 after purchasing an additional 86 shares during the last quarter. Stone House Investment Management LLC bought a new stake in shares of Johnson & Johnson in the 1st quarter worth approximately $47,000. 1248 Management LLC bought a new stake in shares of Johnson & Johnson in the 1st quarter worth approximately $48,000. von Borstel & Associates Inc. purchased a new position in shares of Johnson & Johnson in the 1st quarter valued at approximately $49,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in Johnson & Johnson during the first quarter valued at $52,000. Institutional investors own 69.55% of the company's stock.

Insider Transactions at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the firm's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total value of $10,041,108.51. Following the transaction, the executive vice president directly owned 178,013 shares in the company, valued at approximately $31,652,491.53. This trade represents a 24.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.16% of the company's stock.

Analyst Ratings Changes

JNJ has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on Johnson & Johnson from $185.00 to $200.00 and gave the stock a "neutral" rating in a report on Tuesday, September 16th. The Goldman Sachs Group increased their price target on Johnson & Johnson from $185.00 to $186.00 and gave the stock a "buy" rating in a report on Friday. Barclays increased their target price on Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. UBS Group lifted their price target on Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Finally, Erste Group Bank raised Johnson & Johnson from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $181.40.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ traded up $2.68 during midday trading on Tuesday, hitting $176.89. 1,645,416 shares of the company's stock were exchanged, compared to its average volume of 8,906,436. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $181.16. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. The firm has a market cap of $426.00 billion, a P/E ratio of 18.88, a PEG ratio of 2.24 and a beta of 0.40. The stock's 50 day moving average price is $173.14 and its 200-day moving average price is $161.69.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.09. The business had revenue of $23.74 billion during the quarter, compared to analysts' expectations of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The business's revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm posted $2.82 earnings per share. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. Equities research analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th were issued a dividend of $1.30 per share. The ex-dividend date was Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.9%. Johnson & Johnson's dividend payout ratio (DPR) is currently 55.61%.

Johnson & Johnson Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.