The Manufacturers Life Insurance Company Grows Position in Johnson & Johnson (NYSE:JNJ)

The Manufacturers Life Insurance Company grew its position in Johnson & Johnson (NYSE:JNJ) by 7.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,891,911 shares of the company’s stock after acquiring an additional 205,789 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.12% of Johnson & Johnson worth $468,662,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Innealta Capital LLC acquired a new position in Johnson & Johnson in the second quarter valued at $27,000. Highline Wealth Partners LLC acquired a new position in Johnson & Johnson in the 3rd quarter valued at about $31,000. Mowery & Schoenfeld Wealth Management LLC raised its stake in Johnson & Johnson by 58.7% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after acquiring an additional 91 shares during the last quarter. Activest Wealth Management acquired a new stake in Johnson & Johnson during the 3rd quarter worth approximately $40,000. Finally, Morton Brown Family Wealth LLC increased its holdings in shares of Johnson & Johnson by 400.0% in the third quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock valued at $41,000 after purchasing an additional 200 shares during the period. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

JNJ has been the topic of a number of analyst reports. Citigroup lifted their price objective on shares of Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Royal Bank of Canada lifted their target price on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Wolfe Research began coverage on Johnson & Johnson in a research report on Friday, November 15th. They set an “outperform” rating and a $190.00 target price on the stock. Finally, Wells Fargo & Company raised their price target on Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $175.94.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $155.75 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $374.99 billion, a P/E ratio of 22.54, a price-to-earnings-growth ratio of 2.76 and a beta of 0.53. The firm has a 50-day moving average price of $159.98 and a two-hundred day moving average price of $156.36. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $168.85.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. The business had revenue of $22.47 billion during the quarter, compared to analysts’ expectations of $22.17 billion. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The company’s revenue was up 5.2% on a year-over-year basis. During the same period last year, the company posted $2.66 EPS. As a group, research analysts expect that Johnson & Johnson will post 9.93 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio is presently 71.78%.

Insider Activity at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the transaction, the vice president now owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The trade was a 22.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Johnson & Johnson Company Profile

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.