Resona Asset Management Co. Ltd. Has $144.06 Million Stock Position in Johnson & Johnson (NYSE:JNJ)

Key Points

• Resona Asset Management Co. Ltd. increased its holdings in Johnson & Johnson by 7.3% in the first quarter, bringing its total to $144.06 million worth of shares.
• Johnson & Johnson's quarterly earnings report revealed an EPS of $2.77, exceeding estimates by $0.09, with revenue growth of 5.8% year-over-year.
• The company declared a quarterly dividend of $1.30 per share, set to be paid on September 9th, offering an annual yield of 3.0%.

Resona Asset Management Co. Ltd. increased its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 7.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 870,420 shares of the company's stock after purchasing an additional 58,973 shares during the quarter. Johnson & Johnson makes up 0.8% of Resona Asset Management Co. Ltd.'s portfolio, making the stock its 18th largest holding. Resona Asset Management Co. Ltd.'s holdings in Johnson & Johnson were worth $144,062,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Johnson & Johnson by 0.5% in the first quarter. Vanguard Group Inc. now owns 233,962,679 shares of the company's stock valued at $38,800,371,000 after buying an additional 1,170,120 shares in the last quarter. Northern Trust Corp increased its position in Johnson & Johnson by 12.3% in the fourth quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock worth $4,456,201,000 after purchasing an additional 3,363,235 shares during the period. Bank of New York Mellon Corp increased its position in 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 worth $3,844,580,000 after purchasing an additional 4,842,582 shares during the period. Charles Schwab Investment Management Inc. increased its position in Johnson & Johnson by 3.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,899,263 shares of the company's stock worth $3,133,602,000 after purchasing an additional 712,181 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in Johnson & Johnson by 2.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 18,282,410 shares of the company's stock worth $3,031,955,000 after purchasing an additional 448,666 shares during the period. 69.55% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on JNJ. Piper Sandler reiterated an "overweight" rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Royal Bank Of Canada lifted their price objective on Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. UBS Group lifted their price objective on Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Bank of America lifted their price objective on Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Finally, Leerink Partners lowered 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 research report on Tuesday, May 13th. Nine investment 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $174.50.

Johnson & Johnson Stock Up 0.3%

Shares of NYSE:JNJ traded up $0.54 during trading on Thursday, hitting $174.96. 8,236,639 shares of the company's stock traded hands, compared to its average volume of 9,039,363. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $175.72. 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 company has a market cap of $421.37 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 2.20 and a beta of 0.41. The company has a 50-day moving average price of $160.42 and a 200-day moving average price of $158.01.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its 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. The firm had revenue of $23.74 billion for the quarter, compared to analysts' expectations of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The business's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.82 EPS. As a group, research analysts forecast 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. Shareholders of record on Tuesday, August 26th will be paid a $1.30 dividend. The ex-dividend date is Tuesday, August 26th. This represents a $5.20 annualized dividend and a yield of 3.0%. Johnson & Johnson's payout ratio is presently 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.