Sumitomo Life Insurance Co. Sells 1,547 Shares of Johnson & Johnson (NYSE:JNJ)

Sumitomo Life Insurance Co. lowered its holdings in Johnson & Johnson (NYSE:JNJ) by 4.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 29,896 shares of the company’s stock after selling 1,547 shares during the period. Sumitomo Life Insurance Co.’s holdings in Johnson & Johnson were worth $4,686,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. DORCHESTER WEALTH MANAGEMENT Co lifted its holdings in Johnson & Johnson by 0.6% in the 3rd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 75,495 shares of the company’s stock worth $11,758,000 after buying an additional 414 shares during the period. OneAscent Financial Services LLC lifted its stake in shares of Johnson & Johnson by 82.8% in the 4th quarter. OneAscent Financial Services LLC now owns 9,838 shares of the company’s stock valued at $1,542,000 after purchasing an additional 4,457 shares during the period. TrueMark Investments LLC purchased a new position in shares of Johnson & Johnson in the 4th quarter valued at approximately $1,458,000. RAM Investment Partners LLC lifted its stake in shares of Johnson & Johnson by 4.5% in the 4th quarter. RAM Investment Partners LLC now owns 1,688 shares of the company’s stock valued at $265,000 after purchasing an additional 73 shares during the period. Finally, RFG Advisory LLC lifted its stake in shares of Johnson & Johnson by 12.6% in the 3rd quarter. RFG Advisory LLC now owns 18,758 shares of the company’s stock valued at $2,921,000 after purchasing an additional 2,102 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on JNJ shares. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. Bank of America lowered their target price on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday. Raymond James raised their target price on Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, January 3rd. HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and raised their target price for the company from $169.00 to $170.00 in a research note on Thursday. Finally, Royal Bank of Canada lowered their price objective on Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.86.

Johnson & Johnson Stock Up 1.5 %

Johnson & Johnson stock opened at $147.93 on Friday. The firm has a market cap of $356.48 billion, a price-to-earnings ratio of 9.22, a PEG ratio of 2.39 and a beta of 0.53. The stock has a fifty day simple moving average of $156.15 and a two-hundred day simple moving average of $155.63. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.38.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.43% and a net margin of 45.26%. The business had revenue of $21.38 billion during the quarter, compared to analyst estimates of $21.39 billion. During the same quarter last year, the company earned $2.68 EPS. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities analysts predict that Johnson & Johnson will post 10.65 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be issued a $1.24 dividend. The ex-dividend date is Monday, May 20th. This represents a $4.96 annualized dividend and a dividend yield of 3.35%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s payout ratio is presently 30.92%.

Insider Buying and Selling

In related news, major shareholder & Johnson Johnson sold 3,725 shares of Johnson & Johnson stock in a transaction on Friday, February 16th. The stock was sold at an average price of $25.81, for a total value of $96,142.25. Following the completion of the sale, the insider now owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Jennifer L. Taubert sold 59,397 shares of Johnson & Johnson stock in a transaction on Friday, February 9th. The stock was sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the transaction, the executive vice president now directly owns 141,416 shares in the company, valued at $22,099,078.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder & Johnson Johnson sold 3,725 shares of Johnson & Johnson stock in a transaction on Friday, February 16th. The shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the transaction, the insider now owns 4,099,575 shares in the company, valued at $105,810,030.75. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by corporate 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.