Intact Investment Management Inc. Sells 19,700 Shares of Johnson & Johnson (NYSE:JNJ)

Intact Investment Management Inc. reduced its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 22.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 67,189 shares of the company’s stock after selling 19,700 shares during the period. Intact Investment Management Inc.’s holdings in Johnson & Johnson were worth $10,531,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. California Public Employees Retirement System grew its holdings in Johnson & Johnson by 4.9% during the 4th quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock worth $1,664,620,000 after acquiring an additional 498,647 shares during the period. Raymond James & Associates grew its stake in shares of Johnson & Johnson by 0.4% in the 4th quarter. Raymond James & Associates now owns 6,061,707 shares of the company’s stock valued at $950,112,000 after buying an additional 26,982 shares during the period. Ninety One UK Ltd grew its stake in shares of Johnson & Johnson by 0.3% in the 4th quarter. Ninety One UK Ltd now owns 4,436,013 shares of the company’s stock valued at $695,301,000 after buying an additional 12,867 shares during the period. DekaBank Deutsche Girozentrale grew its stake in shares of Johnson & Johnson by 4.8% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 4,396,416 shares of the company’s stock valued at $688,198,000 after buying an additional 200,193 shares during the period. Finally, Stifel Financial Corp grew its stake in shares of Johnson & Johnson by 2.9% in the 3rd quarter. Stifel Financial Corp now owns 4,306,268 shares of the company’s stock valued at $670,726,000 after buying an additional 120,891 shares during the period. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JNJ has been the subject of several research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Monday, April 15th. Raymond James lifted their price target on Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, January 3rd. Royal Bank of Canada cut their price target on Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, April 17th. HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their price target for the company from $169.00 to $170.00 in a research note on Thursday, April 18th. Finally, StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $175.86.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $151.16 on Thursday. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $175.97. The company’s 50 day moving average price is $154.65 and its two-hundred day moving average price is $155.11. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.38. The stock has a market cap of $364.26 billion, a P/E ratio of 9.42, a P/E/G ratio of 2.38 and a beta of 0.55.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. The company had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.43%. Johnson & Johnson’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.68 EPS. On average, equities analysts predict that Johnson & Johnson will post 10.65 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.28%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend is Monday, May 20th. Johnson & Johnson’s payout ratio is currently 29.68%.

Insider Activity at Johnson & Johnson

In related news, major shareholder & Johnson Johnson sold 3,725 shares of Johnson & Johnson stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the completion of the transaction, the insider now directly owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder & Johnson Johnson sold 3,725 shares of Johnson & Johnson stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the completion of the transaction, the insider now directly owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jennifer L. Taubert sold 59,397 shares of Johnson & Johnson stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the completion of the transaction, the executive vice president now owns 141,416 shares of the company’s stock, valued at $22,099,078.32. The disclosure for this sale can be found here. 0.16% of the stock is owned by company insiders.

Johnson & Johnson 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.