Canvas Wealth Advisors LLC Reduces Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Canvas Wealth Advisors LLC decreased its stake in Johnson & Johnson (NYSE:JNJ) by 30.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,431 shares of the company’s stock after selling 1,045 shares during the period. Canvas Wealth Advisors LLC’s holdings in Johnson & Johnson were worth $352,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. IFS Advisors LLC lifted its stake in Johnson & Johnson by 138.9% in the fourth quarter. IFS Advisors LLC now owns 172 shares of the company’s stock valued at $25,000 after buying an additional 100 shares during the last quarter. Highline Wealth Partners LLC purchased a new stake in Johnson & Johnson in the 3rd quarter valued at $31,000. Bay Harbor Wealth Management LLC acquired a new stake in Johnson & Johnson during the 4th quarter worth $32,000. RPg Family Wealth Advisory LLC purchased a new position in Johnson & Johnson during the 3rd quarter worth $35,000. Finally, Mowery & Schoenfeld Wealth Management LLC increased its stake in Johnson & Johnson by 58.7% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after purchasing an additional 91 shares during the period. 69.55% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Mark A. Weinberger purchased 1,000 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were bought at an average price of $147.22 per share, with a total value of $147,220.00. Following the completion of the purchase, the director now directly owns 1,000 shares in the company, valued at approximately $147,220. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on JNJ shares. Guggenheim upped their price objective on Johnson & Johnson from $162.00 to $166.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Argus raised Johnson & Johnson to a “strong-buy” rating in a report on Friday, January 24th. Bank of America dropped their price objective on shares of Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating on the stock in a research note on Thursday, January 23rd. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 25th. Finally, Citigroup dropped their price target on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $170.67.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $155.23 on Thursday. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $168.85. The company’s 50 day simple moving average is $147.48 and its 200 day simple moving average is $156.01. The company has a market capitalization of $373.73 billion, a price-to-earnings ratio of 23.34, a PEG ratio of 2.46 and a beta of 0.52. 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 (NYSE:JNJ) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.05. The business had revenue of $22.52 billion for the quarter, compared to analysts’ expectations of $22.44 billion. Johnson & Johnson had a return on equity of 34.35% and a net margin of 18.20%. The business’s revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.29 earnings per share. On average, sell-side analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $4.96 annualized dividend and a dividend yield of 3.20%. Johnson & Johnson’s payout ratio is currently 74.59%.

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.