Manhattan West Asset Management LLC Boosts Holdings in Johnson & Johnson (NYSE:JNJ)

Key Points

• Manhattan West Asset Management LLC increased its stake in Johnson & Johnson by 27.9%, acquiring an additional 2,657 shares to total 12,182 shares valued at approximately $2,020,000.
• Johnson & Johnson reported earnings of $2.77 per share, exceeding estimates, with a quarterly revenue of $23.74 billion, marking a 5.8% year-over-year increase.
• The company announced a quarterly dividend of $1.30 per share, which represents an annualized dividend of $5.20 and a yield of 3.0%.

Manhattan West Asset Management LLC boosted its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 27.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,182 shares of the company's stock after purchasing an additional 2,657 shares during the period. Manhattan West Asset Management LLC's holdings in Johnson & Johnson were worth $2,020,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Johnson & Johnson by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 233,962,679 shares of the company's stock worth $38,800,371,000 after acquiring an additional 1,170,120 shares in the last quarter. Northern Trust Corp lifted its position in shares of Johnson & Johnson by 12.3% in the 4th quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock worth $4,456,201,000 after purchasing an additional 3,363,235 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Johnson & Johnson by 26.4% in the 1st quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock worth $3,844,580,000 after purchasing an additional 4,842,582 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Johnson & Johnson by 3.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,899,263 shares of the company's stock worth $3,133,602,000 after purchasing an additional 712,181 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in Johnson & Johnson by 2.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 18,282,410 shares of the company's stock valued at $3,031,955,000 after acquiring an additional 448,666 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Stock Up 1.1%

Shares of NYSE:JNJ traded up $1.87 during trading hours on Friday, reaching $173.40. The stock had a trading volume of 7,686,049 shares, compared to its average volume of 9,496,232. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $173.96. The firm's 50 day moving average is $159.26 and its 200-day moving average is $157.52. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01. The stock has a market capitalization of $417.61 billion, a price-to-earnings ratio of 18.55, a P/E/G ratio of 2.21 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $0.09. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The company had revenue of $23.74 billion for the quarter, compared to the consensus estimate of $22.85 billion. During the same period in the prior year, the firm posted $2.82 EPS. The company's quarterly revenue was up 5.8% compared to the same quarter last year. Research analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio (DPR) is 55.61%.

Analyst Upgrades and Downgrades

JNJ has been the topic of a number of research reports. UBS Group increased their price objective on shares of Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Raymond James Financial dropped their price objective on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Royal Bank Of Canada boosted their target price on shares of Johnson & Johnson from $181.00 to $185.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Guggenheim restated a "neutral" rating and issued a $167.00 price objective (up from $164.00) on shares of Johnson & Johnson in a report on Thursday, July 17th. Finally, Benchmark upgraded shares of Johnson & Johnson to a "strong-buy" rating in a report on Thursday, April 24th. Nine investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Johnson & Johnson has a consensus rating of "Moderate Buy" and an average target price of $174.50.

Johnson & Johnson Profile

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.