Meiji Yasuda Asset Management Co Ltd. Buys 8,408 Shares of Johnson & Johnson (NYSE:JNJ)

Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Johnson & Johnson (NYSE:JNJ) by 6.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 135,526 shares of the company’s stock after acquiring an additional 8,408 shares during the quarter. Johnson & Johnson comprises approximately 0.8% of Meiji Yasuda Asset Management Co Ltd.’s holdings, making the stock its 20th largest position. Meiji Yasuda Asset Management Co Ltd.’s holdings in Johnson & Johnson were worth $19,808,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Johnson & Johnson during the fourth quarter valued at approximately $4,071,642,000. Wellington Management Group LLP boosted its holdings in shares of Johnson & Johnson by 16.4% during the 4th quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock worth $3,764,852,000 after buying an additional 3,391,657 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Johnson & Johnson by 16.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock valued at $3,453,978,000 after buying an additional 3,139,499 shares during the last quarter. Ninety One UK Ltd raised its holdings 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 worth $980,579,000 after acquiring an additional 2,489,925 shares during the period. Finally, Swedbank AB acquired a new position in Johnson & Johnson during the 1st quarter worth $331,178,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Insider Buying and Selling at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the sale, the vice president now owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on JNJ. Daiwa Capital Markets downgraded 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 report on Tuesday, July 23rd. TD Cowen lowered their target price on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Monday. TD Securities lowered their price objective on shares of Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 target price on shares of Johnson & Johnson in a research report on Tuesday, July 30th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and a consensus target price of $173.21.

Johnson & Johnson Stock Up 0.0 %

Shares of JNJ opened at $167.07 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The company has a 50-day moving average price of $160.38 and a two-hundred day moving average price of $154.01. The stock has a market cap of $402.08 billion, a price-to-earnings ratio of 10.42, a P/E/G ratio of 2.71 and a beta of 0.53. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The business had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. During the same quarter last year, the company earned $2.80 EPS. Johnson & Johnson’s revenue was up 4.3% on a year-over-year basis. Equities analysts predict that Johnson & Johnson will post 10.02 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 2.97%. The ex-dividend date was Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Johnson & Johnson Company Profile

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.