Connor Clark & Lunn Investment Management Ltd. Buys 633,486 Shares of Johnson & Johnson (NYSE:JNJ)

Connor Clark & Lunn Investment Management Ltd. raised its stake in Johnson & Johnson (NYSE:JNJ – Get Rating) by 288.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 852,893 shares of the company’s stock after buying an additional 633,486 shares during the quarter. Johnson & Johnson comprises approximately 0.9% of Connor Clark & Lunn Investment Management Ltd.’s investment portfolio, making the stock its 27th biggest holding. Connor Clark & Lunn Investment Management Ltd.’s holdings in Johnson & Johnson were worth $150,664,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Veracity Capital LLC increased its position in shares of Johnson & Johnson by 1.2% during the fourth quarter. Veracity Capital LLC now owns 5,027 shares of the company’s stock worth $888,000 after purchasing an additional 59 shares in the last quarter. Sandy Cove Advisors LLC increased its position in shares of Johnson & Johnson by 1.6% during the third quarter. Sandy Cove Advisors LLC now owns 3,703 shares of the company’s stock worth $605,000 after purchasing an additional 60 shares in the last quarter. LCM Capital Management Inc increased its position in shares of Johnson & Johnson by 0.7% during the fourth quarter. LCM Capital Management Inc now owns 9,437 shares of the company’s stock worth $1,667,000 after purchasing an additional 61 shares in the last quarter. Arbor Investment Advisors LLC increased its position in Johnson & Johnson by 2.3% in the 4th quarter. Arbor Investment Advisors LLC now owns 2,697 shares of the company’s stock valued at $476,000 after acquiring an additional 61 shares during the period. Finally, Sierra Capital LLC increased its position in Johnson & Johnson by 0.6% in the 4th quarter. Sierra Capital LLC now owns 10,036 shares of the company’s stock valued at $1,773,000 after acquiring an additional 61 shares during the period. Institutional investors own 67.94% of the company’s stock.

Johnson & Johnson Price Performance

JNJ stock opened at $154.41 on Friday. Johnson & Johnson has a 1 year low of $150.11 and a 1 year high of $183.35. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.85 and a current ratio of 1.07. The stock’s 50 day moving average price is $159.89 and its 200 day moving average price is $165.86. The firm has a market cap of $401.27 billion, a P/E ratio of 32.30, a PEG ratio of 2.67 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ – Get Rating) last issued its quarterly earnings results on Tuesday, April 18th. The company reported $2.68 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.17. The company had revenue of $24.75 billion during the quarter, compared to the consensus estimate of $23.61 billion. Johnson & Johnson had a return on equity of 36.13% and a net margin of 13.22%. Johnson & Johnson’s revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.67 EPS. On average, sell-side analysts expect that Johnson & Johnson will post 10.66 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 6th. Investors of record on Tuesday, May 23rd will be given a $1.19 dividend. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.13. This represents a $4.76 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend is Monday, May 22nd. Johnson & Johnson’s dividend payout ratio (DPR) is 99.58%.

Insider Buying and Selling

In other Johnson & Johnson news, insider James D. Swanson sold 1,062 shares of the firm’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $154.66, for a total value of $164,248.92. Following the transaction, the insider now directly owns 9,215 shares of the company’s stock, valued at $1,425,191.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

JNJ has been the topic of several recent research reports. Piper Sandler dropped their price target on Johnson & Johnson from $55.00 to $52.00 in a research report on Monday, February 6th. Morgan Stanley boosted their price target on Johnson & Johnson from $179.00 to $183.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 19th. Raymond James dropped their price target on Johnson & Johnson from $185.00 to $181.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 19th. Atlantic Securities lowered their price objective on Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating on the stock in a report on Wednesday, April 19th. Finally, Credit Suisse Group lifted their price objective on Johnson & Johnson from $168.00 to $170.00 in a report on Friday, May 5th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and an average target price of $173.00.

Johnson & Johnson Company Profile

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Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer Health, Pharmaceutical, and MedTech. The Consumer Health segment includes products focused on personal healthcare used in the Skin Health/Beauty, Over-the-Counter medicines, Baby Care, Oral Care, Women’s Health and Wound Care markets.