CIBC Asset Management Inc Buys 33,454 Shares of Johnson & Johnson (NYSE:JNJ)

CIBC Asset Management Inc boosted its stake in Johnson & Johnson (NYSE:JNJ) by 5.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 634,722 shares of the company’s stock after purchasing an additional 33,454 shares during the period. CIBC Asset Management Inc’s holdings in Johnson & Johnson were worth $102,851,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of JNJ. International Assets Investment Management LLC increased its holdings in Johnson & Johnson by 20,130.0% in the 3rd quarter. International Assets Investment Management LLC now owns 3,454,473 shares of the company’s stock worth $559,832,000 after purchasing an additional 3,437,397 shares in the last quarter. Marshall Wace LLP boosted its position in Johnson & Johnson by 506.9% during the 2nd quarter. Marshall Wace LLP now owns 3,884,962 shares of the company’s stock worth $567,826,000 after buying an additional 3,244,862 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Johnson & Johnson by 16.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock worth $3,453,978,000 after acquiring an additional 3,139,499 shares during the last quarter. Ninety One UK Ltd increased its position in Johnson & Johnson by 59.0% in the 2nd quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock valued at $980,579,000 after acquiring an additional 2,489,925 shares during the period. Finally, Swedbank AB acquired a new position in shares of Johnson & Johnson during the first quarter worth $331,178,000. Institutional investors own 69.55% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Morgan Stanley raised their target price on Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Wednesday, October 16th. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Sanford C. Bernstein boosted their price target on shares of Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Finally, Wells Fargo & Company boosted their target price on shares of Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $175.94.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $151.86 on Friday. The stock has a market cap of $365.62 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 2.72 and a beta of 0.53. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $168.85. The firm’s 50-day simple moving average is $161.82 and its 200 day simple moving average is $155.99.

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

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s payout ratio is 71.78%.

Insiders Place Their Bets

In other news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction on Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the sale, the vice president now directly owns 18,973 shares in the company, valued at $3,131,683.38. The trade was a 22.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.16% of the company’s stock.

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.