Canoe Financial LP Lowers Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Canoe Financial LP lessened its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 6.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,826 shares of the company's stock after selling 5,800 shares during the quarter. Canoe Financial LP's holdings in Johnson & Johnson were worth $14,399,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. MRP Capital Investments LLC lifted its stake in shares of Johnson & Johnson by 4.1% during the 4th quarter. MRP Capital Investments LLC now owns 1,640 shares of the company's stock worth $237,000 after purchasing an additional 65 shares during the period. Syverson Strege & Co lifted its position in Johnson & Johnson by 4.9% during the fourth quarter. Syverson Strege & Co now owns 1,394 shares of the company's stock worth $202,000 after buying an additional 65 shares during the period. Werba Rubin Papier Wealth Management boosted its stake in Johnson & Johnson by 3.3% in the 4th quarter. Werba Rubin Papier Wealth Management now owns 2,080 shares of the company's stock worth $301,000 after buying an additional 66 shares during the last quarter. Denali Advisors LLC grew its holdings in Johnson & Johnson by 1.3% in the 4th quarter. Denali Advisors LLC now owns 5,128 shares of the company's stock valued at $742,000 after buying an additional 67 shares during the period. Finally, Sage Mountain Advisors LLC increased its stake in shares of Johnson & Johnson by 0.5% during the 4th quarter. Sage Mountain Advisors LLC now owns 14,564 shares of the company's stock valued at $2,106,000 after acquiring an additional 67 shares during the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Johnson & Johnson Stock Performance

Johnson & Johnson stock opened at $149.81 on Friday. The firm has a market capitalization of $360.44 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 2.27 and a beta of 0.42. Johnson & Johnson has a one year low of $140.68 and a one year high of $169.99. The stock's 50 day moving average price is $154.07 and its 200 day moving average price is $153.65. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.26.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its earnings results on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, topping analysts' consensus estimates of $2.59 by $0.18. The business had revenue of $21.89 billion for the quarter, compared to analysts' expectations of $21.65 billion. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. As a group, sell-side analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th were paid a dividend of $1.30 per share. The ex-dividend date was Tuesday, May 27th. This is an increase from Johnson & Johnson's previous quarterly dividend of $1.24. This represents a $5.20 annualized dividend and a dividend yield of 3.47%. Johnson & Johnson's dividend payout ratio (DPR) is currently 57.84%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a report on Saturday. Raymond James Financial lowered their price objective on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Royal Bank Of Canada restated an "outperform" rating and set a $181.00 price objective on shares of Johnson & Johnson in a report on Thursday, June 5th. The Goldman Sachs Group upgraded Johnson & Johnson from a "neutral" rating to a "buy" rating and lifted their target price for the company from $157.00 to $172.00 in a report on Wednesday, April 9th. Finally, Benchmark upgraded Johnson & Johnson to a "strong-buy" rating in a research note on Thursday, April 24th. Eleven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $170.88.

Johnson & Johnson Company 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.

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