Cibc World Markets Corp Sells 70,054 Shares of Johnson & Johnson (NYSE:JNJ)

Cibc World Markets Corp lessened its position in shares of Johnson & Johnson (NYSE:JNJ) by 8.0% in the fourth quarter, HoldingsChannel reports. The fund owned 803,360 shares of the company’s stock after selling 70,054 shares during the period. Johnson & Johnson accounts for approximately 0.7% of Cibc World Markets Corp’s investment portfolio, making the stock its 26th largest holding. Cibc World Markets Corp’s holdings in Johnson & Johnson were worth $116,182,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in JNJ. IFS Advisors LLC boosted its holdings in shares of Johnson & Johnson by 138.9% during the fourth quarter. IFS Advisors LLC now owns 172 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares during the period. Bay Harbor Wealth Management LLC bought a new stake in shares of Johnson & Johnson in the fourth quarter valued at approximately $32,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Johnson & Johnson in the third quarter valued at approximately $35,000. Activest Wealth Management bought a new stake in shares of Johnson & Johnson in the third quarter valued at approximately $40,000. Finally, NewSquare Capital LLC boosted its stake in shares of Johnson & Johnson by 145.8% in the fourth quarter. NewSquare Capital LLC now owns 290 shares of the company’s stock valued at $42,000 after buying an additional 172 shares during the period. Institutional investors own 69.55% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on JNJ shares. Citigroup cut their price target on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Barclays boosted their price target on Johnson & Johnson from $159.00 to $166.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 28th. Wells Fargo & Company cut their price target on Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Argus upgraded shares of Johnson & Johnson to a “strong-buy” rating in a research report on Friday, January 24th. Finally, Guggenheim restated a “neutral” rating on shares of Johnson & Johnson in a research report on Monday, March 10th. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $171.33.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $162.94 on Monday. The company has a market capitalization of $392.29 billion, a price-to-earnings ratio of 24.50, a PEG ratio of 2.56 and a beta of 0.47. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99. The stock has a fifty day simple moving average of $154.98 and a 200 day simple moving average of $156.27. 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 posted its quarterly earnings data on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.05. The business had revenue of $22.52 billion during the quarter, compared to the consensus estimate of $22.44 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. Johnson & Johnson’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.29 earnings per share. Sell-side analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were issued a $1.24 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a yield of 3.04%. Johnson & Johnson’s payout ratio is 74.59%.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 6,999 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the sale, the vice president now owns 21,001 shares of the company’s stock, valued at approximately $3,483,645.88. This represents a 25.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Timothy Schmid sold 403 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 15,098 shares in the company, valued at $2,357,552.70. This trade represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

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.