Mitsubishi UFJ Asset Management UK Ltd. Increases Position in Johnson & Johnson (NYSE:JNJ)

Mitsubishi UFJ Asset Management UK Ltd. raised its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 200.0% in the 1st quarter, Holdings Channel reports. The institutional investor owned 4,500 shares of the company’s stock after purchasing an additional 3,000 shares during the quarter. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in Johnson & Johnson were worth $746,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of JNJ. Nuveen LLC purchased a new stake in shares of Johnson & Johnson in the first quarter valued at approximately $1,369,188,000. GAMMA Investing LLC boosted its holdings in shares of Johnson & Johnson by 24,450.4% in the first quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company’s stock valued at $1,196,596,000 after purchasing an additional 7,185,977 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Johnson & Johnson by 26.4% in 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 purchasing an additional 4,842,582 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Johnson & Johnson by 134.5% in the fourth quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company’s stock valued at $1,149,536,000 after purchasing an additional 4,559,147 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Johnson & Johnson by 12.3% in the fourth quarter. Northern Trust Corp now owns 30,813,175 shares of the company’s stock valued at $4,456,201,000 after purchasing an additional 3,363,235 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

NYSE:JNJ opened at $174.29 on Thursday. Johnson & Johnson has a one year low of $140.68 and a one year high of $174.76. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01. The firm has a market cap of $419.75 billion, a price-to-earnings ratio of 18.64, a PEG ratio of 2.20 and a beta of 0.41. The firm’s fifty day moving average is $160.42 and its two-hundred day moving average is $158.01.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.68 by $0.09. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The company had revenue of $23.74 billion for the quarter, compared to analyst estimates of $22.85 billion. During the same period in the prior year, the company earned $2.82 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis. Research analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson’s dividend payout ratio is presently 55.61%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Morgan Stanley boosted their price target on Johnson & Johnson from $171.00 to $176.00 and gave the company an “equal weight” rating in a report on Thursday, July 17th. Piper Sandler reissued an “overweight” rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Wall Street Zen downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 18th. Guggenheim reissued a “neutral” rating and issued a $167.00 price objective (up previously from $164.00) on shares of Johnson & Johnson in a research note on Thursday, July 17th. Finally, UBS Group boosted their price objective on shares of Johnson & Johnson from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. Nine analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $174.50.

Johnson & Johnson 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.