Manitou Investment Management Ltd. Has $89,000 Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Manitou Investment Management Ltd. trimmed its stake in shares of Johnson & Johnson (NYSE:JNJ) by 99.6% during the third quarter, HoldingsChannel reports. The fund owned 549 shares of the company’s stock after selling 153,880 shares during the period. Johnson & Johnson comprises about 0.0% of Manitou Investment Management Ltd.’s investment portfolio, making the stock its 27th largest position. Manitou Investment Management Ltd.’s holdings in Johnson & Johnson were worth $89,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in JNJ. International Assets Investment Management LLC raised its holdings in shares of Johnson & Johnson by 20,130.0% during the third quarter. International Assets Investment Management LLC now owns 3,454,473 shares of the company’s stock worth $559,832,000 after acquiring an additional 3,437,397 shares during the period. Marshall Wace LLP raised its holdings in shares of Johnson & Johnson by 506.9% during the second quarter. Marshall Wace LLP now owns 3,884,962 shares of the company’s stock worth $567,826,000 after acquiring an additional 3,244,862 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Johnson & Johnson by 16.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock worth $3,453,978,000 after acquiring an additional 3,139,499 shares during the period. Ninety One UK Ltd increased its stake in Johnson & Johnson by 59.0% in the 2nd quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock valued at $980,579,000 after buying an additional 2,489,925 shares during the last quarter. Finally, Swedbank AB acquired a new stake in Johnson & Johnson in the 1st quarter valued at $331,178,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Daiwa Capital Markets lowered shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Daiwa America lowered shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada lifted their price objective on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Citigroup lifted their price objective on shares of Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company lifted their price objective on shares of Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $175.93.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $160.13 on Friday. The company has a market capitalization of $385.53 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 2.85 and a beta of 0.52. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03. The company has a 50-day simple moving average of $163.31 and a 200 day simple moving average of $155.44. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The business had revenue of $22.47 billion during the quarter, compared to analysts’ expectations of $22.17 billion. During the same quarter in the previous year, the company earned $2.66 EPS. The business’s revenue was up 5.2% on a year-over-year basis. On average, sell-side analysts predict that Johnson & Johnson will post 9.94 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be paid a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 3.10%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is 71.78%.

Insiders Place Their Bets

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the sale, the vice president now owns 18,973 shares in the company, valued at $3,131,683.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.16% of the company’s stock.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.