Manchester Financial Inc. Has $565,000 Position in Johnson & Johnson (NYSE:JNJ)

Manchester Financial Inc. grew its holdings in Johnson & Johnson (NYSE:JNJ – Get Rating) by 9.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 3,182 shares of the company’s stock after acquiring an additional 278 shares during the quarter. Manchester Financial Inc.’s holdings in Johnson & Johnson were worth $565,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Johnson & Johnson by 1.4% during the first quarter. Vanguard Group Inc. now owns 238,141,110 shares of the company’s stock worth $42,205,749,000 after buying an additional 3,358,478 shares in the last quarter. BlackRock Inc. grew its position in Johnson & Johnson by 0.4% during the first quarter. BlackRock Inc. now owns 200,799,189 shares of the company’s stock worth $35,587,638,000 after buying an additional 777,837 shares in the last quarter. Wellington Management Group LLP grew its position in Johnson & Johnson by 0.8% during the first quarter. Wellington Management Group LLP now owns 32,772,594 shares of the company’s stock worth $5,808,286,000 after buying an additional 265,330 shares in the last quarter. Bank of New York Mellon Corp grew its position in Johnson & Johnson by 1.6% during the first quarter. Bank of New York Mellon Corp now owns 32,070,396 shares of the company’s stock worth $5,683,837,000 after buying an additional 509,818 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Johnson & Johnson by 1.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 17,189,229 shares of the company’s stock worth $3,046,449,000 after buying an additional 328,297 shares in the last quarter. 68.59% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Peter Fasolo sold 22,864 shares of the company’s stock in a transaction dated Wednesday, October 19th. The shares were sold at an average price of $164.50, for a total value of $3,761,128.00. Following the sale, the vice president now directly owns 114,676 shares of the company’s stock, valued at approximately $18,864,202. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.35% of the company’s stock.

Johnson & Johnson Price Performance

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JNJ opened at $168.71 on Friday. The company has a fifty day moving average price of $164.86 and a two-hundred day moving average price of $172.62. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.17 and a current ratio of 1.42. Johnson & Johnson has a 52 week low of $155.72 and a 52 week high of $186.69. The firm has a market capitalization of $443.57 billion, a PE ratio of 23.50, a P/E/G ratio of 3.25 and a beta of 0.56.

Johnson & Johnson (NYSE:JNJ – Get Rating) last announced its quarterly earnings results on Tuesday, October 18th. The company reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.06. Johnson & Johnson had a net margin of 19.95% and a return on equity of 35.32%. The company had revenue of $23.79 billion during the quarter, compared to analyst estimates of $23.44 billion. During the same quarter in the previous year, the business earned $2.60 EPS. The firm’s revenue was up 1.9% on a year-over-year basis. As a group, analysts anticipate that Johnson & Johnson will post 10.05 earnings per share for the current year.

Johnson & Johnson declared that its Board of Directors has initiated a share buyback program on Wednesday, September 14th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 1.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Tuesday, November 22nd will be given a dividend of $1.13 per share. The ex-dividend date is Monday, November 21st. This represents a $4.52 annualized dividend and a yield of 2.68%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 62.95%.

Analysts Set New Price Targets

A number of brokerages have commented on JNJ. Citigroup cut their price target on shares of Johnson & Johnson from $201.00 to $198.00 in a research note on Wednesday, October 5th. Atlantic Securities cut their price target on shares of Johnson & Johnson from $165.00 to $160.00 and set a “neutral” rating for the company in a research note on Wednesday. UBS Group cut their price target on shares of Johnson & Johnson from $185.00 to $180.00 in a research note on Thursday, July 21st. StockNews.com assumed coverage on shares of Johnson & Johnson in a research note on Wednesday, October 12th. They issued a “strong-buy” rating for the company. Finally, Wells Fargo & Company lifted their target price 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. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $184.25.

Johnson & Johnson Company Profile

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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.