Investment Management Corp of Ontario Grows Position in Johnson & Johnson (NYSE:JNJ)

Investment Management Corp of Ontario boosted its holdings in Johnson & Johnson (NYSE:JNJ) by 13.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 211,928 shares of the company’s stock after buying an additional 24,305 shares during the period. Johnson & Johnson accounts for approximately 0.8% of Investment Management Corp of Ontario’s holdings, making the stock its 20th biggest position. Investment Management Corp of Ontario’s holdings in Johnson & Johnson were worth $34,345,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of JNJ. Vinva Investment Management Ltd raised its position in shares of Johnson & Johnson by 6.8% during the 3rd quarter. Vinva Investment Management Ltd now owns 111,448 shares of the company’s stock valued at $17,988,000 after buying an additional 7,110 shares during the period. Financial Counselors Inc. raised its stake in shares of Johnson & Johnson by 5.3% in the 3rd quarter. Financial Counselors Inc. now owns 185,093 shares of the company’s stock valued at $29,996,000 after purchasing an additional 9,309 shares in the last quarter. Meridian Financial Partners LLC bought a new stake in shares of Johnson & Johnson during the second quarter valued at approximately $1,626,000. Meridian Investment Counsel Inc. raised its holdings in shares of Johnson & Johnson by 19.6% in the 3rd quarter. Meridian Investment Counsel Inc. now owns 22,629 shares of the company’s stock valued at $3,667,000 after purchasing an additional 3,710 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Johnson & Johnson by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock worth $2,858,543,000 after purchasing an additional 102,502 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

JNJ has been the topic of several analyst reports. Morgan Stanley lifted their price target on shares of Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Guggenheim upped their price target on shares of Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Wells Fargo & Company increased their price target on Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Wolfe Research began coverage on Johnson & Johnson in a research report on Friday, November 15th. They set an “outperform” rating and a $190.00 price target for the company. Finally, Royal Bank of Canada upped their target price on Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.67.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ opened at $154.55 on Tuesday. The stock’s fifty day simple moving average is $159.15 and its 200 day simple moving average is $156.46. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85. The stock has a market capitalization of $372.10 billion, a price-to-earnings ratio of 22.40, a PEG ratio of 2.75 and a beta of 0.51.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The firm had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. During the same quarter last year, the business posted $2.66 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts forecast that Johnson & Johnson will post 9.93 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be given a $1.24 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a yield of 3.21%. Johnson & Johnson’s dividend payout ratio is presently 71.78%.

Johnson & Johnson Company Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.