iA Global Asset Management Inc. Raises Position in Johnson & Johnson (NYSE:JNJ)

Key Points

• iA Global Asset Management Inc. has increased its stake in Johnson & Johnson by 8.7%, now owning 356,782 shares, which are valued at approximately $59.2 million.
• Several institutional investors, including Bernard Wealth Management and Highline Wealth Partners LLC, have also made significant moves to acquire or increase their holdings in Johnson & Johnson.
• Johnson & Johnson recently reported earnings per share of $2.77, exceeding analysts' expectations, and declared a quarterly dividend of $1.30, reflecting a yield of 3.0% for shareholders.

iA Global Asset Management Inc. lifted its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 8.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 356,782 shares of the company's stock after purchasing an additional 28,537 shares during the quarter. Johnson & Johnson comprises 1.0% of iA Global Asset Management Inc.'s portfolio, making the stock its 24th biggest holding. iA Global Asset Management Inc.'s holdings in Johnson & Johnson were worth $59,169,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. Bernard Wealth Management Corp. purchased a new position in Johnson & Johnson during the 4th quarter valued at $36,000. Highline Wealth Partners LLC boosted its stake in shares of Johnson & Johnson by 51.8% during the first 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 period. von Borstel & Associates Inc. purchased a new position in Johnson & Johnson in the 1st quarter worth about $49,000. Capital A Wealth Management LLC bought a new stake in Johnson & Johnson during the 4th quarter valued at about $50,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Johnson & Johnson in the 1st quarter valued at about $52,000. Institutional investors own 69.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Leerink Partnrs lowered shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Sanford C. Bernstein restated a "market perform" rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Barclays boosted their price target on shares of Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Benchmark raised shares of Johnson & Johnson to a "strong-buy" rating in a report on Thursday, April 24th. Finally, Leerink Partners lowered Johnson & Johnson from an "outperform" rating to a "market perform" rating and lowered their target price for the stock from $169.00 to $153.00 in a report on Tuesday, May 13th. Nine investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Johnson & Johnson currently has a consensus rating of "Moderate Buy" and an average target price of $174.50.

Johnson & Johnson Trading Up 2.2%

Shares of Johnson & Johnson stock opened at $171.08 on Tuesday. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $171.19. The firm's 50 day simple moving average is $157.82 and its two-hundred day simple moving average is $156.91. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $412.02 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 2.13 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.09. The company had revenue of $23.74 billion during the quarter, compared to analysts' expectations of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The firm's revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.82 EPS. Analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.0%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson's payout ratio is presently 55.61%.

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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