Johnson & Johnson (NYSE:JNJ) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its stake in shares of Johnson & Johnson (NYSE:JNJ) by 7.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,891,911 shares of the company’s stock after acquiring an additional 205,789 shares during the period. The Manufacturers Life Insurance Company’s holdings in Johnson & Johnson were worth $468,662,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. China Universal Asset Management Co. Ltd. acquired a new position in shares of Johnson & Johnson in the 1st quarter valued at about $765,000. Coppell Advisory Solutions Corp. acquired a new stake in shares of Johnson & Johnson in the first quarter worth $2,069,000. Adalta Capital Management LLC raised its stake in shares of Johnson & Johnson by 4.0% in the 1st quarter. Adalta Capital Management LLC now owns 18,271 shares of the company’s stock valued at $2,890,000 after acquiring an additional 700 shares during the period. Beacon Capital Management LLC boosted its position in Johnson & Johnson by 20.6% during the 1st quarter. Beacon Capital Management LLC now owns 6,332 shares of the company’s stock worth $1,002,000 after purchasing an additional 1,081 shares during the period. Finally, Jaffetilchin Investment Partners LLC raised its position in Johnson & Johnson by 3.5% in the first quarter. Jaffetilchin Investment Partners LLC now owns 33,954 shares of the company’s stock valued at $5,371,000 after purchasing an additional 1,142 shares during the period. 69.55% of the stock is owned by institutional investors and hedge funds.

Johnson & Johnson Stock Performance

Johnson & Johnson stock opened at $155.75 on Tuesday. The company has a market cap of $374.99 billion, a PE ratio of 22.54, a P/E/G ratio of 2.76 and a beta of 0.53. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85. The company has a fifty day moving average price of $159.98 and a two-hundred day moving average price of $156.36. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The business had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. During the same quarter in the prior year, the firm earned $2.66 EPS. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. Research analysts expect that Johnson & Johnson will post 9.93 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

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. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a yield of 3.18%. Johnson & Johnson’s dividend payout ratio is currently 71.78%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on JNJ shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a report on Wednesday, October 16th. Wolfe Research assumed coverage on shares of Johnson & Johnson in a research report on Friday, November 15th. They set an “outperform” rating and a $190.00 target price on the stock. Wells Fargo & Company raised their price target on shares of Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Guggenheim boosted their price objective on shares of Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada lifted their target price on Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average price target of $175.94.

Insiders Place Their Bets

In other news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the transaction, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. This represents a 22.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is owned by corporate insiders.

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.