Johnson & Johnson (NYSE:JNJ) Shares Bought by Cardinal Capital Management

Cardinal Capital Management grew its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 9.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 113,144 shares of the company's stock after acquiring an additional 9,577 shares during the period. Johnson & Johnson accounts for 2.9% of Cardinal Capital Management's portfolio, making the stock its 4th largest holding. Cardinal Capital Management's holdings in Johnson & Johnson were worth $18,764,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Lantz Financial LLC raised its position in Johnson & Johnson by 3.3% in the 1st quarter. Lantz Financial LLC now owns 11,974 shares of the company's stock worth $1,986,000 after purchasing an additional 377 shares during the last quarter. Sulzberger Capital Advisors Inc. bought a new position in Johnson & Johnson in the 4th quarter worth approximately $453,000. Horan Securities Inc. raised its position in shares of Johnson & Johnson by 1.3% during the 4th quarter. Horan Securities Inc. now owns 7,178 shares of the company's stock valued at $1,038,000 after acquiring an additional 90 shares during the last quarter. Strategic Financial Concepts LLC raised its position in shares of Johnson & Johnson by 57.9% during the 4th quarter. Strategic Financial Concepts LLC now owns 3,467 shares of the company's stock valued at $501,000 after acquiring an additional 1,271 shares during the last quarter. Finally, State of Wyoming raised its position in shares of Johnson & Johnson by 205,580.0% during the 4th quarter. State of Wyoming now owns 10,284 shares of the company's stock valued at $1,487,000 after acquiring an additional 10,279 shares during the last quarter. Institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Down 0.6%

NYSE JNJ traded down $0.92 on Friday, reaching $149.81. The company had a trading volume of 22,591,152 shares, compared to its average volume of 7,993,824. The firm has a market capitalization of $360.44 billion, a price-to-earnings ratio of 16.66, a price-to-earnings-growth ratio of 2.27 and a beta of 0.42. 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 has a 1-year low of $140.68 and a 1-year high of $169.99. The company's fifty day moving average is $154.07 and its 200-day moving average is $153.65.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, topping analysts' consensus estimates of $2.59 by $0.18. The firm had revenue of $21.89 billion during the quarter, compared to analyst estimates of $21.65 billion. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. On average, research analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th were paid a $1.30 dividend. The ex-dividend date was Tuesday, May 27th. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.24. This represents a $5.20 dividend on an annualized basis and a yield of 3.47%. Johnson & Johnson's dividend payout ratio is presently 57.84%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Benchmark upgraded shares of Johnson & Johnson to a "strong-buy" rating in a research report on Thursday, April 24th. Wall Street Zen upgraded shares of Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Bank of America dropped their target price on shares of Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Royal Bank Of Canada reiterated an "outperform" rating and set a $181.00 target price on shares of Johnson & Johnson in a research report on Thursday, June 5th. Finally, Raymond James Financial dropped their target price on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Eleven research 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. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $170.88.

About Johnson & Johnson

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.