Johnson & Johnson (NYSE:JNJ) Shares Bought by Industrial Alliance Investment Management Inc.

Industrial Alliance Investment Management Inc. boosted its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 22.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,056 shares of the company’s stock after acquiring an additional 1,488 shares during the quarter. Johnson & Johnson comprises 0.5% of Industrial Alliance Investment Management Inc.’s holdings, making the stock its 17th largest holding. Industrial Alliance Investment Management Inc.’s holdings in Johnson & Johnson were worth $1,274,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in JNJ. Blackston Financial Advisory Group LLC acquired a new position in Johnson & Johnson during the 4th quarter worth $463,000. Next Level Private LLC acquired a new position in Johnson & Johnson during the 4th quarter worth $276,000. LaFleur & Godfrey LLC grew its stake in Johnson & Johnson by 5.6% during the 4th quarter. LaFleur & Godfrey LLC now owns 125,627 shares of the company’s stock worth $19,691,000 after purchasing an additional 6,709 shares in the last quarter. Bryant Woods Investment Advisors LLC grew its stake in Johnson & Johnson by 13.9% during the 4th quarter. Bryant Woods Investment Advisors LLC now owns 2,057 shares of the company’s stock worth $322,000 after purchasing an additional 251 shares in the last quarter. Finally, Buckley Wealth Management LLC grew its stake in Johnson & Johnson by 9.6% during the 4th quarter. Buckley Wealth Management LLC now owns 53,686 shares of the company’s stock worth $8,415,000 after purchasing an additional 4,684 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on JNJ shares. HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and increased their price objective for the company from $169.00 to $170.00 in a report on Thursday, April 18th. Daiwa America downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. TD Cowen dropped their price objective on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Daiwa Capital Markets downgraded Johnson & Johnson from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. Finally, Bank of America decreased their target price on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average target price of $173.00.

Johnson & Johnson Price Performance

Shares of JNJ traded up $2.74 during mid-day trading on Tuesday, hitting $161.30. The company’s stock had a trading volume of 6,543,286 shares, compared to its average volume of 7,331,918. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The firm has a 50-day simple moving average of $148.88 and a 200 day simple moving average of $153.10. The firm has a market capitalization of $388.29 billion, a P/E ratio of 10.06, a P/E/G ratio of 2.63 and a beta of 0.52. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $175.97.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, beating the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The business had revenue of $22.45 billion during the quarter, compared to analysts’ expectations of $22.33 billion. During the same period last year, the firm earned $2.80 EPS. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. Analysts predict that Johnson & Johnson will post 10.07 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th will be paid a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 3.08%. The ex-dividend date is Tuesday, August 27th. Johnson & Johnson’s payout ratio is currently 30.92%.

About Johnson & Johnson

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.