Scotia Capital Inc. Buys 4,913 Shares of Johnson & Johnson (NYSE:JNJ)

Key Points

• Scotia Capital Inc. has increased its stake in Johnson & Johnson by 0.4%, owning 1,307,306 shares worth approximately $216.8 million, making it the firm's 25th largest holding.
• Johnson & Johnson reported a 5.8% year-over-year revenue increase of $23.74 billion for the last quarter, exceeding analyst expectations and achieving an earnings per share of $2.77.
• The company declared a quarterly dividend of $1.30, representing an annualized yield of 3.1%, with the payment scheduled for September 9th to shareholders of record by August 26th.

Scotia Capital Inc. raised its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 0.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,307,306 shares of the company's stock after purchasing an additional 4,913 shares during the quarter. Johnson & Johnson makes up about 1.2% of Scotia Capital Inc.'s portfolio, making the stock its 25th biggest holding. Scotia Capital Inc. owned 0.05% of Johnson & Johnson worth $216,804,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC increased its position in Johnson & Johnson by 13.9% during the fourth quarter. Brighton Jones LLC now owns 51,876 shares of the company's stock worth $7,502,000 after buying an additional 6,332 shares during the last quarter. Hudson Value Partners LLC increased its position in Johnson & Johnson by 2.5% during the fourth quarter. Hudson Value Partners LLC now owns 41,403 shares of the company's stock worth $5,648,000 after buying an additional 1,022 shares during the last quarter. PAX Financial Group LLC grew its position in shares of Johnson & Johnson by 2.3% in the fourth quarter. PAX Financial Group LLC now owns 4,492 shares of the company's stock valued at $650,000 after purchasing an additional 103 shares during the last quarter. Islay Capital Management LLC grew its position in shares of Johnson & Johnson by 2.6% in the fourth quarter. Islay Capital Management LLC now owns 9,247 shares of the company's stock valued at $1,337,000 after purchasing an additional 235 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. acquired a new position in shares of Johnson & Johnson in the fourth quarter valued at approximately $117,401,000. 69.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

JNJ has been the topic of several research reports. Bank of America upped their target price on Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. The Goldman Sachs Group raised Johnson & Johnson from a "neutral" rating to a "buy" rating and upped their target price for the company from $157.00 to $172.00 in a research report on Wednesday, April 9th. Barclays upped 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. Leerink Partners downgraded Johnson & Johnson from an "outperform" rating to a "market perform" rating and decreased their target price for the company from $169.00 to $153.00 in a research report on Tuesday, May 13th. Finally, Royal Bank Of Canada boosted their price target on Johnson & Johnson from $181.00 to $185.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Nine equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $174.50.

Johnson & Johnson Stock Up 1.6%

NYSE JNJ opened at $167.33 on Friday. The business has a fifty day moving average price of $157.46 and a two-hundred day moving average price of $156.68. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $169.99. The stock has a market capitalization of $402.99 billion, a PE ratio of 17.90, a PEG ratio of 2.13 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.09. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The firm had revenue of $23.74 billion during the quarter, compared to analysts' expectations of $22.85 billion. During the same period in the prior year, the company earned $2.82 earnings per share. The company's quarterly revenue was up 5.8% on a year-over-year basis. Equities analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio is presently 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.

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