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

Cardinal Capital Management cut its stake in Johnson & Johnson (NYSE:JNJ) by 7.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 103,567 shares of the company’s stock after selling 7,778 shares during the period. Johnson & Johnson makes up 2.3% of Cardinal Capital Management’s holdings, making the stock its 5th largest position. Cardinal Capital Management’s holdings in Johnson & Johnson were worth $14,978,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AMF Tjanstepension AB lifted its position in Johnson & Johnson by 14.2% during the 3rd quarter. AMF Tjanstepension AB now owns 425,261 shares of the company’s stock worth $68,985,000 after buying an additional 52,997 shares in the last quarter. Alpha Financial Partners LLC bought a new stake in Johnson & Johnson during the 3rd quarter worth about $209,000. Wealth Group Ltd. bought a new stake in Johnson & Johnson during the 3rd quarter worth about $213,000. Swedbank AB lifted its position in Johnson & Johnson by 5.3% during the 3rd quarter. Swedbank AB now owns 2,215,108 shares of the company’s stock worth $358,980,000 after buying an additional 111,570 shares in the last quarter. Finally, Wallington Asset Management LLC lifted its position in Johnson & Johnson by 3.4% during the 3rd quarter. Wallington Asset Management LLC now owns 88,324 shares of the company’s stock worth $14,314,000 after buying an additional 2,889 shares in the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

JNJ has been the topic of a number of research analyst reports. Stifel Nicolaus dropped their target price on shares of Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Morgan Stanley dropped their target price on shares of Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Leerink Partners dropped their target price on shares of Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $181.00 target price on shares of Johnson & Johnson in a report on Wednesday. Finally, Wells Fargo & Company dropped their target price on shares of Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $170.67.

Insider Buying and Selling

In related news, Director Mark A. Weinberger acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average price of $147.22 per share, with a total value of $147,220.00. Following the purchase, the director now directly owns 1,000 shares in the company, valued at approximately $147,220. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Timothy Schmid sold 403 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $156.15, for a total transaction of $62,928.45. Following the completion of the transaction, the executive vice president now directly owns 15,098 shares of the company’s stock, valued at approximately $2,357,552.70. The trade was a 2.60 % decrease in their position. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by company insiders.

Johnson & Johnson Stock Performance

Shares of NYSE:JNJ opened at $162.35 on Friday. The company’s 50 day moving average price is $148.93 and its two-hundred day moving average price is $155.90. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $168.85. The firm has a market cap of $390.87 billion, a PE ratio of 24.41, a PEG ratio of 2.53 and a beta of 0.52. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.05. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The firm had revenue of $22.52 billion for the quarter, compared to analyst estimates of $22.44 billion. During the same quarter in the prior year, the business posted $2.29 EPS. The business’s revenue was up 5.3% compared to the same quarter last year. Equities research analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given a dividend of $1.24 per share. The ex-dividend date is Tuesday, February 18th. This represents a $4.96 annualized dividend and a dividend yield of 3.06%. Johnson & Johnson’s dividend payout ratio is 74.59%.

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.