Manitou Investment Management Ltd. Purchases 1,100 Shares of Johnson & Johnson (JNJ)

Manitou Investment Management Ltd. boosted its position in Johnson & Johnson (NYSE:JNJ) by 0.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 127,876 shares of the company’s stock after purchasing an additional 1,100 shares during the quarter. Johnson & Johnson comprises 4.4% of Manitou Investment Management Ltd.’s holdings, making the stock its 11th biggest position. Manitou Investment Management Ltd.’s holdings in Johnson & Johnson were worth $17,669,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Selective Wealth Management acquired a new position in Johnson & Johnson during the 3rd quarter valued at about $105,000. WP Advisors LLC acquired a new position in Johnson & Johnson during the 2nd quarter valued at about $108,000. Fusion Family Wealth LLC increased its stake in Johnson & Johnson by 621.4% during the 2nd quarter. Fusion Family Wealth LLC now owns 1,010 shares of the company’s stock valued at $123,000 after buying an additional 870 shares during the period. Cognios Beta Neutral Large Cap Fund LP acquired a new position in shares of Johnson & Johnson in the 2nd quarter worth approximately $203,000. Finally, Exane Asset Management acquired a new position in shares of Johnson & Johnson in the 2nd quarter worth approximately $206,000. Hedge funds and other institutional investors own 68.98% of the company’s stock.

JNJ has been the topic of several recent research reports. Zacks Investment Research raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and set a $165.00 price objective on the stock in a research note on Tuesday, November 20th. ValuEngine raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Thursday, December 13th. Morgan Stanley lowered their price objective on shares of Johnson & Johnson from $153.00 to $130.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 2nd. Finally, Barclays reaffirmed an “equal weight” rating and issued a $135.00 price objective (down previously from $137.00) on shares of Johnson & Johnson in a research note on Wednesday, January 23rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $142.20.

Johnson & Johnson stock opened at $134.31 on Friday. The company has a market capitalization of $360.72 billion, a PE ratio of 16.42, a PEG ratio of 2.15 and a beta of 0.68. The company has a current ratio of 1.72, a quick ratio of 1.40 and a debt-to-equity ratio of 0.46. Johnson & Johnson has a fifty-two week low of $118.62 and a fifty-two week high of $148.99.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, January 22nd. The company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.02. The business had revenue of $20.39 billion for the quarter, compared to the consensus estimate of $20.27 billion. Johnson & Johnson had a net margin of 18.75% and a return on equity of 35.09%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the firm posted $1.74 earnings per share. On average, equities research analysts predict that Johnson & Johnson will post 8.57 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 12th. Stockholders of record on Tuesday, February 26th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Monday, February 25th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 44.01%.

Johnson & Johnson declared that its board has authorized a stock repurchase program on Monday, December 17th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 1.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

In other news, Director Charles Prince bought 2,000 shares of the company’s stock in a transaction dated Friday, December 14th. The shares were acquired at an average cost of $134.37 per share, with a total value of $268,740.00. Following the completion of the transaction, the director now directly owns 28,520 shares in the company, valued at approximately $3,832,232.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Ronald A. Kapusta sold 3,643 shares of Johnson & Johnson stock in a transaction that occurred on Thursday, December 13th. The stock was sold at an average price of $147.31, for a total transaction of $536,650.33. Following the completion of the transaction, the chief accounting officer now directly owns 13,641 shares in the company, valued at $2,009,455.71. The disclosure for this sale can be found here. Over the last three months, insiders sold 201,281 shares of company stock worth $29,350,605. 0.22% of the stock is currently owned by insiders.

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Johnson & Johnson Company Profile

Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. Its Consumer segment offers baby care products under the JOHNSON’S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON’S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, RoC, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.

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