Manning & Napier Group LLC Sells 83,184 Shares of Johnson & Johnson (NYSE:JNJ)

Manning & Napier Group LLC decreased its position in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 4.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,613,631 shares of the company’s stock after selling 83,184 shares during the quarter. Johnson & Johnson accounts for about 3.3% of Manning & Napier Group LLC’s holdings, making the stock its 2nd biggest position. Manning & Napier Group LLC’s holdings in Johnson & Johnson were worth $286,435,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Family CFO Inc acquired a new position in Johnson & Johnson in the 4th quarter valued at $26,000. RE Dickinson Investment Advisors LLC increased its holdings in shares of Johnson & Johnson by 163.3% during the 1st quarter. RE Dickinson Investment Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after buying an additional 98 shares during the last quarter. Advanced Research Investment Solutions LLC increased its holdings in Johnson & Johnson by 200.0% in the 1st quarter. Advanced Research Investment Solutions LLC now owns 180 shares of the company’s stock valued at $32,000 after purchasing an additional 120 shares in the last quarter. Professional Financial Advisors LLC increased its holdings in Johnson & Johnson by 47.9% in the 1st quarter. Professional Financial Advisors LLC now owns 210 shares of the company’s stock valued at $37,000 after purchasing an additional 68 shares in the last quarter. Finally, Joseph P. Lucia & Associates LLC acquired a new stake in Johnson & Johnson in the 1st quarter valued at $38,000. Hedge funds and other institutional investors own 68.59% of the company’s stock.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $166.18 on Friday. The firm’s 50-day moving average is $168.06 and its 200-day moving average is $174.12. Johnson & Johnson has a 52-week low of $155.72 and a 52-week high of $186.69. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.17 and a current ratio of 1.42. The company has a market cap of $436.92 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 2.95 and a beta of 0.61.

Johnson & Johnson (NYSE:JNJGet Rating) last issued its earnings results on Tuesday, July 19th. The company reported $2.59 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.02. The business had revenue of $24.02 billion for the quarter, compared to analyst estimates of $23.85 billion. Johnson & Johnson had a net margin of 19.21% and a return on equity of 36.14%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.48 EPS. Equities research analysts anticipate that Johnson & Johnson will post 10.7 earnings per share for the current year.

Johnson & Johnson announced that its Board of Directors has approved a stock buyback plan on Wednesday, September 14th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to reacquire up to 1.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Tuesday, August 23rd were paid a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend was Monday, August 22nd. Johnson & Johnson’s dividend payout ratio (DPR) is 65.79%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. UBS Group decreased their price objective on shares of Johnson & Johnson from $185.00 to $180.00 in a research report on Thursday, July 21st. Daiwa Capital Markets initiated coverage on shares of Johnson & Johnson in a report on Wednesday, June 22nd. They issued an “outperform” rating on the stock. SVB Leerink cut their target price on shares of Johnson & Johnson from $200.00 to $194.00 in a report on Wednesday, July 20th. Wells Fargo & Company raised their price target on shares of Johnson & Johnson from $190.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, July 13th. Finally, Citigroup dropped their price target on shares of Johnson & Johnson from $205.00 to $201.00 in a research note on Wednesday, July 20th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $189.78.

About Johnson & Johnson

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Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment offers baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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