Sompo Asset Management Co. Ltd. Has $8.99 Million Stake in Johnson & Johnson (NYSE:JNJ)

Sompo Asset Management Co. Ltd. lowered its stake in Johnson & Johnson (NYSE:JNJ) by 1.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,506 shares of the company’s stock after selling 867 shares during the period. Johnson & Johnson makes up approximately 1.5% of Sompo Asset Management Co. Ltd.’s holdings, making the stock its 15th biggest position. Sompo Asset Management Co. Ltd.’s holdings in Johnson & Johnson were worth $8,990,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Wellington Management Group LLP grew its stake in Johnson & Johnson by 16.4% in the 4th quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after buying an additional 3,391,657 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Johnson & Johnson by 16.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock worth $3,453,978,000 after purchasing an additional 3,139,499 shares during the period. Ninety One UK Ltd lifted its position in shares of Johnson & Johnson by 59.0% during the 2nd quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock worth $980,579,000 after purchasing an additional 2,489,925 shares during the last quarter. Swedbank AB bought a new stake in Johnson & Johnson during the 1st quarter valued at approximately $331,178,000. Finally, Massachusetts Financial Services Co. MA grew its holdings in Johnson & Johnson by 10.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock valued at $2,744,979,000 after buying an additional 1,831,751 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $164.11 on Friday. The business’s fifty day moving average is $161.30 and its two-hundred day moving average is $154.20. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85. The firm has a market cap of $394.96 billion, a P/E ratio of 10.23, a P/E/G ratio of 2.71 and a beta of 0.53.

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

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were paid a $1.24 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $4.96 annualized dividend and a dividend yield of 3.02%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 30.92%.

Analyst Ratings Changes

JNJ has been the topic of a number of research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Monday, September 16th. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. TD Cowen decreased their price target on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. TD Securities dropped 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 reissued an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a research note on Friday. Seven research 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. According to data from MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and an average target price of $173.21.

Insider Activity

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was 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 directly owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is currently owned by 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.