Sumitomo Mitsui DS Asset Management Company Ltd Raises Position in Johnson & Johnson (NYSE:JNJ)

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 3.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 500,971 shares of the company’s stock after buying an additional 17,197 shares during the period. Johnson & Johnson comprises approximately 0.9% of Sumitomo Mitsui DS Asset Management Company Ltd’s portfolio, making the stock its 27th largest position. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Johnson & Johnson were worth $81,187,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TruWealth Advisors LLC boosted its holdings in Johnson & Johnson by 2.4% during the 3rd quarter. TruWealth Advisors LLC now owns 5,491 shares of the company’s stock valued at $890,000 after acquiring an additional 129 shares during the period. Ellsworth Advisors LLC lifted its position in Johnson & Johnson by 249.0% in the third quarter. Ellsworth Advisors LLC now owns 41,109 shares of the company’s stock valued at $6,662,000 after purchasing an additional 29,329 shares during the last quarter. Drake & Associates LLC grew its holdings in shares of Johnson & Johnson by 18.2% in the third quarter. Drake & Associates LLC now owns 3,965 shares of the company’s stock worth $642,000 after purchasing an additional 611 shares during the last quarter. Cardinal Capital Management increased its stake in shares of Johnson & Johnson by 3.6% in the third quarter. Cardinal Capital Management now owns 111,345 shares of the company’s stock worth $18,045,000 after buying an additional 3,892 shares during the period. Finally, Secure Asset Management LLC raised its holdings in Johnson & Johnson by 15.9% during the 3rd quarter. Secure Asset Management LLC now owns 3,844 shares of the company’s stock valued at $623,000 after buying an additional 527 shares during the last quarter. 69.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

JNJ has been the topic of a number of analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research report on Wednesday. Citigroup boosted their price target on Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday. The Goldman Sachs Group dropped their price objective on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Daiwa Capital Markets cut Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Finally, TD Securities cut their target price on shares of Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $175.93.

Johnson & Johnson Price Performance

JNJ opened at $164.49 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07. The company’s 50-day simple moving average is $162.89 and its two-hundred day simple moving average is $154.66. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85. The stock has a market capitalization of $395.87 billion, a P/E ratio of 10.25, a P/E/G ratio of 2.65 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The firm had revenue of $22.47 billion for the quarter, compared to the consensus estimate of $22.17 billion. During the same period last year, the business posted $2.66 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, analysts predict that Johnson & Johnson will post 10 EPS for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be paid a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the transaction, the vice president now directly owns 18,973 shares in the company, valued at approximately $3,131,683.38. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.16% of the stock is currently owned by company insiders.

Johnson & Johnson 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.