With the CDN pushing against 30 year highs I decided to increase my position in JNJ. I’ve posted these reasons before but here they are again:
-44 years of consistent dividend growth.
-Dividends issued to shareowners every quarter since 1944.
-Dividend raised each year for 44 consecutive years.
-Sales have increased each year for 73 consecutive years.
-Double digit Earnings increases for 21 consecutive years.
-Current yield of 2.50%
-44% of sales outside of North America
-ROE levels of above 21% for the past 10 years
-Current P/E – 16.18
-Projected 2007 P/E – 15.3
-Projected 2008 P/E – 13.44
-4 Star rating from S&P - $74 one year target
-Argus rates it a buy with a $76 one year target
I like their diversified holdings within the healthcare sector particularly their consumer products.
(Disclaimer: I’m not your boss or your spouse so do you own research and make your opinions on when to buy or sell. Nothing I say should be bastardized or construed in any way to be advice)