Johnson & Johnson (NYSE:JNJ) shares bought by Canada Pension Plan Investment Board

VaselineSeptember 21, 2024

0 4 minutes read

Canada Pension Plan Investment Board boosted its holdings in Johnson & Johnson (NYSE:JNJ – Free Report) by 14.6% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,996,782 shares of the company’s stock after purchasing an additional 509,619 shares during the period. Canada Pension Plan Investment Board owned about 0.17% of Johnson & Johnson worth $584,170,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in JNJ. Benjamin F. Edwards & Company Inc. raised its holdings in Johnson & Johnson by 5.5% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 111,097 shares of the company’s stock worth $16,238,000 after purchasing an additional 5,742 shares during the last quarter. Retirement Investment Advisors Inc. purchased a new position in Johnson & Johnson in the second quarter valued at about $208,000. Trust Investment Advisors acquired a new position in Johnson & Johnson during the second quarter valued at about $291,000. Brighton Jones LLC boosted its holdings in Johnson & Johnson by 35.9% during the second quarter. Brighton Jones LLC now owns 49,470 shares of the company’s stock worth $7,231,000 after purchasing an additional 13,078 shares in the last quarter. Finally, Burgundy Asset Management Ltd. boosted its holdings in Johnson & Johnson by 15.6% during the second quarter. Burgundy Asset Management Ltd. now owns 1,342,734 shares of the company’s stock worth $196,254,000 after acquiring an additional 180,918 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s shares.

Johnson & Johnson shares fell 0.8%

Shares of JNJ stock opened at $164.82 on Friday. The company has a fifty day moving average price of $161.02 and a 200 day moving average price of $154.17. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85. The company has a market cap of $396.67 billion, a price-to-earnings ratio of 10.28, a price-to-earnings-growth ratio of 2.71 and a beta of 0.53. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07, and a quick ratio of 0.85.

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Johnson & Johnson (NYSE:JNJ – Get Your Free Report ) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The firm had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. In the same quarter last year, the firm earned $2.80 EPS. Johnson & Johnson’s revenue for the quarter was up 4.3% on a year-over-year basis. sell-side analysts expect that Johnson & Johnson will post 10.02 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were paid a $1.24 dividend. The ex-dividend date was Tuesday, August 27th. This represents an annualized dividend of $4.96 and a yield of 3.01%. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Changes in Analyst Ratings

JNJ has been the subject of several analyst reports. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. TD Securities reduced their price objective on shares of Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Monday. Royal Bank of Canada restated an “outperform” rating and set a $175.00 price objective on shares of Johnson & Johnson in a research report on Tuesday, July 30th. Finally, Daiwa Capital Markets downgraded shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.21, according to MarketBeat.com.

Read our latest report on Johnson & Johnson

Insider buying and selling at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the transaction, the vice president now directly owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this link. 0.16% of shares are currently held by corporate insiders.

About Johnson & Johnson

(Free Report)

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