Mitsubishi UFJ Trust & Banking Corp Has $256.55 Million Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Key Points

• Mitsubishi UFJ Trust & Banking Corp reduced its stake in Johnson & Johnson by 9.1%, now holding 1,546,993 shares worth approximately $256.55 million, making it the fund's 20th largest holding.
• Johnson & Johnson announced a quarterly dividend of $1.30 per share, with an annualized dividend yield of 3.1%, to be paid on September 9th.
• Recent analyst ratings for Johnson & Johnson show a range of "buy" to "hold", with a consensus rating of "Moderate Buy" and an average price target of $174.50.

Mitsubishi UFJ Trust & Banking Corp lessened its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 9.1% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,546,993 shares of the company's stock after selling 155,265 shares during the quarter. Johnson & Johnson comprises about 0.7% of Mitsubishi UFJ Trust & Banking Corp's portfolio, making the stock its 20th largest holding. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.06% of Johnson & Johnson worth $256,553,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Conquis Financial LLC acquired a new stake in shares of Johnson & Johnson during the 4th quarter worth about $33,000. Bernard Wealth Management Corp. bought a new position in Johnson & Johnson during the fourth quarter worth about $36,000. Highline Wealth Partners LLC increased its position in Johnson & Johnson by 51.8% during the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock worth $42,000 after acquiring an additional 86 shares during the period. von Borstel & Associates Inc. bought a new position in Johnson & Johnson during the first quarter worth about $49,000. Finally, Capital A Wealth Management LLC bought a new position in Johnson & Johnson during the fourth quarter worth about $50,000. Institutional investors and hedge funds own 69.55% of the company's stock.

Analysts Set New Price Targets

JNJ has been the topic of a number of recent research reports. Wall Street Zen lowered shares of Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. Piper Sandler reaffirmed an "overweight" rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Raymond James Financial lowered their price target on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Bank of America raised their price target on shares of Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Finally, The Goldman Sachs Group raised shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and raised their price target for the stock from $157.00 to $172.00 in a research report on Wednesday, April 9th. Nine investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $174.50.

Johnson & Johnson Trading Up 1.6%

Shares of Johnson & Johnson stock opened at $167.33 on Friday. The firm has a market capitalization of $402.99 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 2.10 and a beta of 0.41. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The firm's 50 day moving average is $157.46 and its 200 day moving average is $156.60. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99.

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

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $5.20 annualized dividend and a dividend yield of 3.1%. Johnson & Johnson's payout ratio is 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.

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