Sumitomo Mitsui Trust Group Inc. Purchases 113,356 Shares of Johnson & Johnson $JNJ

Key Points

• Sumitomo Mitsui Trust Group Inc. increased its holdings in Johnson & Johnson by 1.9%, acquiring an additional 113,356 shares and bringing its total ownership to approximately $940 million as of the latest reporting period.
• Several other hedge funds have also established new positions in Johnson & Johnson, contributing to institutional investors owning 69.55% of the company’s stock.
• Johnson & Johnson's quarterly dividend of $1.30 will be paid to stockholders on December 9th, representing a dividend yield of 2.7%.

Sumitomo Mitsui Trust Group Inc. increased its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 1.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,157,669 shares of the company's stock after acquiring an additional 113,356 shares during the period. Johnson & Johnson comprises about 0.6% of Sumitomo Mitsui Trust Group Inc.'s portfolio, making the stock its 25th biggest position. Sumitomo Mitsui Trust Group Inc. owned about 0.26% of Johnson & Johnson worth $940,584,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of JNJ. GFG Capital LLC bought a new position in shares of Johnson & Johnson during the second quarter worth about $35,000. Stone House Investment Management LLC bought a new position in shares of Johnson & Johnson during the first quarter worth about $47,000. 1248 Management LLC bought a new position in shares of Johnson & Johnson during the first quarter worth about $48,000. von Borstel & Associates Inc. bought a new position in shares of Johnson & Johnson during the first quarter worth about $49,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Johnson & Johnson during the first quarter worth about $52,000. Institutional investors own 69.55% of the company's stock.

Analyst Upgrades and Downgrades

JNJ has been the topic of a number of recent analyst reports. Raymond James Financial boosted their price objective on Johnson & Johnson from $174.00 to $209.00 and gave the company an "outperform" rating in a research note on Wednesday, October 15th. Morgan Stanley set a $190.00 price objective on Johnson & Johnson in a research note on Wednesday, October 15th. Stifel Nicolaus boosted their price objective on Johnson & Johnson from $165.00 to $190.00 and gave the company a "hold" rating in a research note on Wednesday, October 15th. Royal Bank Of Canada reissued an "outperform" rating and issued a $209.00 price objective on shares of Johnson & Johnson in a research note on Friday, October 10th. Finally, Sanford C. Bernstein boosted their price objective on Johnson & Johnson from $172.00 to $193.00 and gave the company a "market perform" rating in a research note on Monday, October 6th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, Johnson & Johnson has a consensus rating of "Moderate Buy" and an average target price of $199.05.

Insider Activity at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $177.81, for a total value of $10,041,108.51. Following the completion of the sale, the executive vice president directly owned 178,013 shares of the company's stock, valued at $31,652,491.53. This represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.16% of the stock is currently owned by company insiders.

Johnson & Johnson Stock Down 1.1%

JNJ stock opened at $190.38 on Friday. The stock's 50 day simple moving average is $182.26 and its 200 day simple moving average is $166.13. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $194.48. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.07. The company has a market cap of $458.69 billion, a P/E ratio of 18.38, a price-to-earnings-growth ratio of 2.26 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. The business had revenue of $24.02 billion for the quarter. Johnson & Johnson had a return on equity of 32.73% and a net margin of 27.26%. On average, research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 25th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $5.20 annualized dividend and a dividend yield of 2.7%. Johnson & Johnson's dividend payout ratio is 50.19%.

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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