The Manufacturers Life Insurance Company Boosts Stock Position in Johnson & Johnson $JNJ

Key Points

• The Manufacturers Life Insurance Company increased its stake in Johnson & Johnson by 13.5%, owning over 3.3 million shares valued at approximately $561.8 million.
• Johnson & Johnson reported earnings of $2.77 per share for the last quarter, exceeding analysts' expectations and showing a 5.8% year-over-year revenue increase to $23.74 billion.
• The company declared a quarterly dividend of $1.30 per share, resulting in an annualized dividend yield of 3.0%, with a payout ratio of 55.61%.

The Manufacturers Life Insurance Company grew its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 13.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,387,563 shares of the company's stock after acquiring an additional 402,725 shares during the period. The Manufacturers Life Insurance Company owned 0.14% of Johnson & Johnson worth $561,793,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Johnson & Johnson by 0.5% in the first quarter. Vanguard Group Inc. now owns 233,962,679 shares of the company's stock worth $38,800,371,000 after buying an additional 1,170,120 shares in the last quarter. Northern Trust Corp increased its stake in Johnson & Johnson by 0.4% in the first quarter. Northern Trust Corp now owns 30,943,820 shares of the company's stock valued at $5,131,723,000 after acquiring an additional 130,645 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Johnson & Johnson by 26.4% in the first quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock valued at $3,844,580,000 after acquiring an additional 4,842,582 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Johnson & Johnson by 3.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,899,263 shares of the company's stock valued at $3,133,602,000 after acquiring an additional 712,181 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Johnson & Johnson by 2.5% in 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. Hedge funds and other institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Performance

Johnson & Johnson stock opened at $175.50 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average of $165.45 and a 200-day moving average of $159.86. The firm has a market cap of $422.67 billion, a P/E ratio of 18.77, a P/E/G ratio of 2.25 and a beta of 0.41. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $181.16.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping analysts' consensus estimates of $2.68 by $0.09. The company had revenue of $23.74 billion during the quarter, compared to analyst estimates of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. Johnson & Johnson's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.82 earnings per share. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. Sell-side analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson's payout ratio is presently 55.61%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Citigroup increased their target price on Johnson & Johnson from $185.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. Royal Bank Of Canada raised their price objective on Johnson & Johnson from $181.00 to $185.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Leerink Partners cut Johnson & Johnson from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $169.00 to $153.00 in a research note on Tuesday, May 13th. Morgan Stanley raised their price objective on Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Finally, Piper Sandler reaffirmed an "overweight" rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Johnson & Johnson has a consensus rating of "Moderate Buy" and an average target price of $176.29.

About Johnson & Johnson

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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