Burgundy Asset Management Ltd. Acquires 23,902 Shares of Johnson & Johnson (NYSE:JNJ)

Burgundy Asset Management Ltd. boosted its holdings in Johnson & Johnson (NYSE:JNJ) by 2.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,161,816 shares of the company’s stock after purchasing an additional 23,902 shares during the period. Johnson & Johnson accounts for approximately 1.9% of Burgundy Asset Management Ltd.’s portfolio, making the stock its 17th largest position. Burgundy Asset Management Ltd.’s holdings in Johnson & Johnson were worth $183,788,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc bought a new stake in shares of Johnson & Johnson during the first quarter valued at approximately $31,000. Keener Financial Planning LLC bought a new stake in shares of Johnson & Johnson during the fourth quarter valued at approximately $40,000. WFA Asset Management Corp increased its position in shares of Johnson & Johnson by 61.4% during the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after purchasing an additional 97 shares during the period. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Johnson & Johnson during the fourth quarter valued at approximately $44,000. Finally, Disciplined Equity Management Inc. bought a new stake in shares of Johnson & Johnson during the fourth quarter valued at approximately $45,000. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Trading Up 2.6 %

Shares of JNJ traded up $3.93 during trading hours on Wednesday, hitting $156.28. 6,862,118 shares of the stock traded hands, compared to its average volume of 7,321,671. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $175.97. The firm has a market capitalization of $376.12 billion, a PE ratio of 9.74, a price-to-earnings-growth ratio of 2.53 and a beta of 0.52. The business has a fifty day moving average of $148.51 and a 200-day moving average of $153.20.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.79% and a net margin of 46.34%. The business had revenue of $22.45 billion for the quarter, compared to analyst estimates of $22.33 billion. During the same quarter in the prior year, the firm posted $2.80 earnings per share. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. Analysts expect that Johnson & Johnson will post 10.07 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th will be paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on JNJ. Bank of America decreased their price target on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 30th. Morgan Stanley boosted their price target on Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Monday, July 1st. Finally, The Goldman Sachs Group decreased their price target on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Eight analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.00.

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.