Manning & Napier Advisors LLC Cuts Stake in Johnson & Johnson (JNJ)
Manning & Napier Advisors LLC cut its position in Johnson & Johnson (NYSE:JNJ) by 5.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,832,479 shares of the company’s stock after selling 100,726 shares during the period. Johnson & Johnson makes up 2.1% of Manning & Napier Advisors LLC’s holdings, making the stock its 11th largest position. Manning & Napier Advisors LLC owned approximately 0.07% of Johnson & Johnson worth $242,418,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in JNJ. Pittenger & Anderson Inc. boosted its stake in shares of Johnson & Johnson by 2.5% in the fourth quarter. Pittenger & Anderson Inc. now owns 64,939 shares of the company’s stock worth $7,482,000 after buying an additional 1,565 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Johnson & Johnson by 267.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 533,201 shares of the company’s stock worth $61,435,000 after buying an additional 388,050 shares during the last quarter. Advantage Investment Management LLC purchased a new stake in shares of Johnson & Johnson in the fourth quarter worth about $1,398,000. Wills Financial Group Inc. lifted its position in shares of Johnson & Johnson by 3.7% in the fourth quarter. Wills Financial Group Inc. now owns 50,139 shares of the company’s stock valued at $5,776,000 after acquiring an additional 1,776 shares in the last quarter. Finally, PagnatoKarp Partners LLC purchased a new position in shares of Johnson & Johnson in the fourth quarter valued at approximately $1,176,000. 66.00% of the stock is currently owned by institutional investors and hedge funds.
JNJ has been the topic of several research reports. UBS Group AG restated a “buy” rating and issued a $136.00 target price on shares of Johnson & Johnson in a research report on Monday, May 15th. Cowen and Company restated a “buy” rating and issued a $143.00 target price (up previously from $138.00) on shares of Johnson & Johnson in a research report on Friday, May 19th. Vetr upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and set a $132.33 target price on the stock in a research report on Thursday, May 18th. BMO Capital Markets restated a “buy” rating and issued a $132.00 target price on shares of Johnson & Johnson in a research report on Friday, June 2nd. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $128.00 target price on shares of Johnson & Johnson in a research report on Thursday, June 15th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $134.60.
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Johnson & Johnson (NYSE JNJ) traded down 1.01% during midday trading on Monday, reaching $131.03. The company’s stock had a trading volume of 3,820,814 shares. Johnson & Johnson has a 52 week low of $109.32 and a 52 week high of $137.08. The stock has a market capitalization of $351.68 billion, a PE ratio of 22.17 and a beta of 0.79. The firm’s 50-day moving average price is $132.89 and its 200-day moving average price is $128.36.
Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, July 18th. The company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.04. Johnson & Johnson had a return on equity of 26.76% and a net margin of 22.52%. The company had revenue of $18.84 billion for the quarter, compared to analyst estimates of $18.94 billion. During the same quarter in the prior year, the company posted $1.74 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, analysts anticipate that Johnson & Johnson will post $7.18 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Tuesday, August 29th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date is Friday, August 25th. Johnson & Johnson’s dividend payout ratio is presently 56.76%.
In other Johnson & Johnson news, VP Dominic J. Caruso sold 82,591 shares of the stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $136.72, for a total transaction of $11,291,841.52. Following the transaction, the vice president now owns 226,693 shares of the company’s stock, valued at approximately $30,993,466.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Paulus Stoffels sold 102,692 shares of the stock in a transaction on Monday, July 24th. The stock was sold at an average price of $133.14, for a total value of $13,672,412.88. Following the transaction, the vice president now directly owns 230,342 shares in the company, valued at approximately $30,667,733.88. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.
Johnson & Johnson Company Profile
Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of a range of products in the healthcare field. It operates through three segments: Consumer, Pharmaceutical and Medical Devices. Its primary focus is products related to human health and well-being.
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