Sumitomo Life Insurance Co. Reduces Position in Johnson & Johnson $JNJ

Sumitomo Life Insurance Co. cut its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 5.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 20,028 shares of the company’s stock after selling 1,247 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Johnson & Johnson were worth $3,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of JNJ. Nuveen LLC purchased a new stake in shares of Johnson & Johnson during the first quarter valued at $1,369,188,000. Bank of New York Mellon Corp boosted its position in shares of Johnson & Johnson by 26.4% during the first quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company’s stock valued at $3,844,580,000 after buying an additional 4,842,582 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Johnson & Johnson by 1,382.0% during the first quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company’s stock valued at $502,509,000 after buying an additional 2,825,626 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Johnson & Johnson by 159.6% during the second quarter. Assenagon Asset Management S.A. now owns 4,159,260 shares of the company’s stock valued at $635,327,000 after buying an additional 2,557,388 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new stake in shares of Johnson & Johnson during the second quarter valued at $401,420,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Loop Capital set a $190.00 target price on Johnson & Johnson in a report on Wednesday, October 22nd. Erste Group Bank raised Johnson & Johnson from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Wall Street Zen raised Johnson & Johnson from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Argus set a $210.00 target price on Johnson & Johnson in a research report on Wednesday, October 15th. Finally, Barclays raised their target price on Johnson & Johnson from $165.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 17th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $199.05.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $189.02 on Friday. The stock has a market capitalization of $455.40 billion, a PE ratio of 18.25, a P/E/G ratio of 2.19 and a beta of 0.40. The business has a 50 day simple moving average of $183.28 and a two-hundred day simple moving average of $167.66. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.07 and a quick ratio of 0.80. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $194.48.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. The business had revenue of $24.02 billion during the quarter. Johnson & Johnson had a return on equity of 32.73% and a net margin of 27.26%. On average, research analysts predict that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 25th will be issued a $1.30 dividend. The ex-dividend date is Tuesday, November 25th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.8%. Johnson & Johnson’s payout ratio is 50.19%.

Insider Activity at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $177.81, for a total value of $10,041,108.51. Following the completion of the transaction, the executive vice president owned 178,013 shares in the company, valued at approximately $31,652,491.53. The trade was a 24.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson Company Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.