Todays Report: The Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Boosts Stake in Johnson & Johnson (JNJ)

The Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Boosts Stake in Johnson & Johnson (JNJ)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Johnson & Johnson (NYSE:JNJ) by 5.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 475,653 shares of the company’s stock after buying an additional 23,657 shares during the period. Johnson & Johnson comprises about 1.5% of Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s investment portfolio, making the stock its 6th largest position. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Johnson & Johnson were worth $57,697,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Americafirst Capital Management LLC acquired a new stake in shares of Johnson & Johnson during the second quarter valued at approximately $101,000. INR Advisory Services LLC acquired a new stake in shares of Johnson & Johnson during the second quarter valued at approximately $150,000. Capital Asset Advisory Services LLC acquired a new stake in shares of Johnson & Johnson during the second quarter valued at approximately $202,000. NewSquare Capital LLC boosted its stake in shares of Johnson & Johnson by 4.9% in the second quarter. NewSquare Capital LLC now owns 1,791 shares of the company’s stock valued at $217,000 after buying an additional 83 shares during the last quarter. Finally, Shayne & CO. LLC acquired a new stake in shares of Johnson & Johnson during the second quarter valued at approximately $219,000. 65.32% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson (NYSE:JNJ) traded down 0.32% during trading on Friday, hitting $115.33. 8,813,324 shares of the stock were exchanged. Johnson & Johnson has a 52 week low of $94.28 and a 52 week high of $126.07. The firm has a market cap of $315.53 billion, a PE ratio of 20.24 and a beta of 0.62. The firm’s 50-day moving average is $117.51 and its 200 day moving average is $117.79.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, October 18th. The company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.02. Johnson & Johnson had a net margin of 22.03% and a return on equity of 25.36%. The firm earned $17.80 billion during the quarter, compared to the consensus estimate of $17.71 billion. During the same period in the previous year, the firm posted $1.49 earnings per share. The business’s revenue was up 4.2% compared to the same quarter last year. Analysts expect that Johnson & Johnson will post $6.72 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Tuesday, November 22nd will be paid a $0.80 dividend. This is an increase from Johnson & Johnson’s previous quarterly dividend of $0.29. This represents a $3.20 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Friday, November 18th. Johnson & Johnson’s payout ratio is 56.64%.

JNJ has been the subject of several recent research reports. Vetr upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and set a $124.21 target price for the company in a research report on Monday, August 22nd. Leerink Swann reiterated an “outperform” rating and set a $140.00 target price (up previously from $125.00) on shares of Johnson & Johnson in a research report on Wednesday, July 20th. Zacks Investment Research cut shares of Johnson & Johnson from a “buy” rating to a “hold” rating in a research report on Tuesday, September 20th. RBC Capital Markets reiterated an “outperform” rating and set a $133.00 target price (up previously from $125.00) on shares of Johnson & Johnson in a research report on Wednesday, July 20th. Finally, Argus reiterated a “buy” rating and set a $145.00 target price on shares of Johnson & Johnson in a research report on Friday, October 21st. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the stock. Johnson & Johnson presently has a consensus rating of “Hold” and an average price target of $120.98.

In related news, Director Charles Prince purchased 875 shares of the firm’s stock in a transaction on Friday, October 21st. The stock was purchased at an average cost of $114.11 per share, with a total value of $99,846.25. Following the completion of the purchase, the director now owns 26,520 shares in the company, valued at approximately $3,026,197.20. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.11% of the stock is currently owned by company insiders.

Johnson & Johnson Company Profile

Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of a range of products in the healthcare field. The Company’s segments include Consumer, Pharmaceutical and Medical Devices. The Consumer segment includes a range of products used in the baby care, oral care, skin care, over-the-counter pharmaceutical, women’s health and wound care markets.

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