Mitsubishi UFJ Asset Management UK Ltd. Acquires 3,000 Shares of Johnson & Johnson (NYSE:JNJ)

Key Points

• Mitsubishi UFJ Asset Management UK Ltd. has increased its stake in Johnson & Johnson by 200%, now owning 4,500 shares valued at $746,000.
• Several analysts have adjusted their price targets for Johnson & Johnson, with Bank of America raising its target to $175 and maintaining a "neutral" rating.
• Johnson & Johnson declared a quarterly dividend of $1.30, representing a yield of 3.0%, with a payout ratio of 55.61% as of the latest reporting period.

Mitsubishi UFJ Asset Management UK Ltd. raised its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 200.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,500 shares of the company's stock after acquiring 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.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Highline Wealth Partners LLC increased its position in Johnson & Johnson by 51.8% during the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock valued at $42,000 after buying an additional 86 shares in the last quarter. Stone House Investment Management LLC bought a new stake in Johnson & Johnson in the first quarter worth $47,000. von Borstel & Associates Inc. bought a new position in shares of Johnson & Johnson during the first quarter valued at $49,000. Capital A Wealth Management LLC purchased a new position in shares of Johnson & Johnson in the 4th quarter worth about $50,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Johnson & Johnson in the 1st quarter worth about $52,000. Hedge funds and other institutional investors own 69.55% of the company's stock.

Analysts Set New Price Targets

JNJ has been the subject of several recent analyst reports. Leerink Partners cut shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $169.00 to $153.00 in a report on Tuesday, May 13th. Piper Sandler restated an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Morgan Stanley increased their target price on Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Barclays boosted their price target on Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Finally, Guggenheim restated a "neutral" rating and set a $167.00 target price (up previously from $164.00) on shares of Johnson & Johnson in a research note on Thursday, July 17th. Nine research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $174.50.

Johnson & Johnson Stock Performance

Shares of NYSE:JNJ traded up $2.04 during mid-day trading on Friday, reaching $176.76. 9,476,237 shares of the company traded hands, compared to its average volume of 8,427,234. The company's 50 day moving average price is $160.85 and its 200-day moving average price is $158.16. The firm has a market cap of $425.70 billion, a PE ratio of 18.90, a PEG ratio of 2.23 and a beta of 0.41. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $177.27.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.68 by $0.09. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The company had revenue of $23.74 billion during the quarter, compared to the consensus estimate of $22.85 billion. During the same period in the previous year, the company posted $2.82 EPS. The firm's revenue was up 5.8% on a year-over-year basis. On average, equities analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal 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 given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio is currently 55.61%.

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.