Manning & Napier Advisors LLC reduced its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 15.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,166,824 shares of the company's stock after selling 217,885 shares during the period. Johnson & Johnson makes up about 2.4% of Manning & Napier Advisors LLC's holdings, making the stock its 8th largest position. Manning & Napier Advisors LLC's holdings in Johnson & Johnson were worth $193,506,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. WealthTrak Capital Management LLC acquired a new stake in Johnson & Johnson in the fourth quarter valued at $26,000. Mountain Hill Investment Partners Corp. purchased a new stake in Johnson & Johnson in the 4th quarter worth approximately $29,000. Conquis Financial LLC acquired a new stake in shares of Johnson & Johnson during the fourth quarter worth $33,000. Bernard Wealth Management Corp. purchased a new stake in shares of Johnson & Johnson in the fourth quarter valued at $36,000. Finally, Highline Wealth Partners LLC increased its stake in Johnson & Johnson by 51.8% in the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock valued at $42,000 after purchasing an additional 86 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company's stock.
Johnson & Johnson Stock Up 0.1%
Johnson & Johnson stock traded up $0.14 during trading on Wednesday, reaching $152.33. 7,149,773 shares of the company's stock were exchanged, compared to its average volume of 8,004,092. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $169.99. The firm has a market cap of $366.52 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 2.31 and a beta of 0.42. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.26. The company's 50-day moving average is $153.95 and its two-hundred day moving average is $153.67.
Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.18. Johnson & Johnson had a return on equity of 33.46% and a net margin of 24.42%. The company had revenue of $21.89 billion during the quarter, compared to the consensus estimate of $21.65 billion. On average, analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.
Johnson & Johnson Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th were given a $1.30 dividend. This is an increase from Johnson & Johnson's previous quarterly dividend of $1.24. The ex-dividend date was Tuesday, May 27th. This represents a $5.20 annualized dividend and a yield of 3.41%. Johnson & Johnson's dividend payout ratio (DPR) is 57.84%.
Analysts Set New Price Targets
A number of analysts have issued reports on JNJ shares. Benchmark raised Johnson & Johnson to a "strong-buy" rating in a research note on Thursday, April 24th. Bank of America cut their price objective on shares of Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Barclays lowered their target price on shares of Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Guggenheim reaffirmed a "neutral" rating on shares of Johnson & Johnson in a research note on Wednesday, April 2nd. Finally, Raymond James Financial decreased their price target on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Eleven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $170.88.
Read Our Latest Stock Report on Johnson & Johnson
About Johnson & Johnson
(
Free Report)
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.
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