Sumitomo Life Insurance Co. Has $4.69 Million Stock Position in Johnson & Johnson (NYSE:JNJ)

Sumitomo Life Insurance Co. reduced its stake in shares of Johnson & Johnson (NYSE:JNJ) by 4.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,896 shares of the company’s stock after selling 1,547 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Johnson & Johnson were worth $4,686,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Moneta Group Investment Advisors LLC boosted its stake in Johnson & Johnson by 90,144.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 54,386,720 shares of the company’s stock valued at $9,607,414,000 after buying an additional 54,326,454 shares in the last quarter. Morgan Stanley boosted its stake in Johnson & Johnson by 12.0% in the fourth quarter. Morgan Stanley now owns 42,224,521 shares of the company’s stock valued at $7,458,962,000 after buying an additional 4,521,062 shares in the last quarter. Norges Bank acquired a new stake in Johnson & Johnson in the fourth quarter valued at about $4,609,399,000. Charles Schwab Investment Management Inc. boosted its stake in Johnson & Johnson by 1.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 17,189,229 shares of the company’s stock valued at $3,046,449,000 after buying an additional 328,297 shares in the last quarter. Finally, Barclays PLC boosted its stake in Johnson & Johnson by 61.0% in the second quarter. Barclays PLC now owns 11,287,765 shares of the company’s stock valued at $1,868,351,000 after buying an additional 4,278,512 shares in the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Johnson & Johnson Trading Up 1.5 %

Shares of Johnson & Johnson stock opened at $147.93 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.91 and a current ratio of 1.16. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $175.97. The stock has a 50 day moving average price of $156.15 and a two-hundred day moving average price of $155.63. The stock has a market capitalization of $356.48 billion, a PE ratio of 9.22, a price-to-earnings-growth ratio of 2.39 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.43% and a net margin of 45.26%. The firm had revenue of $21.38 billion during the quarter, compared to analysts’ expectations of $21.39 billion. During the same quarter last year, the firm posted $2.68 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, equities analysts anticipate that Johnson & Johnson will post 10.65 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be given a dividend of $1.24 per share. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend is Monday, May 20th. This represents a $4.96 annualized dividend and a dividend yield of 3.35%. Johnson & Johnson’s payout ratio is presently 30.92%.

Insider Activity at Johnson & Johnson

In related news, major shareholder & Johnson Johnson sold 3,725 shares of Johnson & Johnson stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $25.81, for a total transaction of $96,142.25. Following the transaction, the insider now owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Jennifer L. Taubert sold 59,397 shares of Johnson & Johnson stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the transaction, the executive vice president now owns 141,416 shares of the company’s stock, valued at $22,099,078.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder & Johnson Johnson sold 3,725 shares of Johnson & Johnson stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the transaction, the insider now directly owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have commented on the company. Bank of America dropped their target price on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday. Raymond James increased their target price on Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, January 3rd. HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and raised their price objective for the stock from $169.00 to $170.00 in a research report on Thursday. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Monday, April 15th. Finally, StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 6th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Johnson & Johnson has an average rating of “Moderate Buy” and a consensus price target of $175.86.

Johnson & Johnson Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.