Sumitomo Mitsui Financial Group Inc. Acquires 1,210 Shares of Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Aug 28th, 2023

Sumitomo Mitsui Financial Group Inc. boosted its holdings in Johnson & Johnson (NYSE:JNJ – Free Report) by 6.3% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,455 shares of the company’s stock after acquiring an additional 1,210 shares during the quarter. Sumitomo Mitsui Financial Group Inc.’s holdings in Johnson & Johnson were worth $3,171,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Sierra Capital LLC increased its holdings in shares of Johnson & Johnson by 0.6% in the 4th quarter. Sierra Capital LLC now owns 10,036 shares of the company’s stock worth $1,773,000 after purchasing an additional 61 shares in the last quarter. MTM Investment Management LLC lifted its position in Johnson & Johnson by 0.5% during the first quarter. MTM Investment Management LLC now owns 11,283 shares of the company’s stock valued at $1,749,000 after purchasing an additional 61 shares in the last quarter. Lockerman Financial Group Inc. lifted its position in Johnson & Johnson by 2.4% during the fourth quarter. Lockerman Financial Group Inc. now owns 2,684 shares of the company’s stock valued at $474,000 after purchasing an additional 62 shares in the last quarter. OneAscent Financial Services LLC lifted its position in shares of Johnson & Johnson by 3.3% in the first quarter. OneAscent Financial Services LLC now owns 1,986 shares of the company’s stock valued at $308,000 after acquiring an additional 63 shares in the last quarter. Finally, Addison Advisors LLC lifted its position in shares of Johnson & Johnson by 0.8% in the fourth quarter. Addison Advisors LLC now owns 7,862 shares of the company’s stock valued at $1,389,000 after acquiring an additional 64 shares in the last quarter. 68.40% of the stock is currently owned by institutional investors.

Johnson & Johnson Stock Up 0.7 %

Johnson & Johnson stock opened at $166.25 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 0.88. The stock has a market capitalization of $432.08 billion, a price-to-earnings ratio of 33.65, a PEG ratio of 2.79 and a beta of 0.54. Johnson & Johnson has a 1-year low of $150.11 and a 1-year high of $181.04. The business has a fifty day moving average price of $166.68 and a 200-day moving average price of $161.48.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last posted its quarterly earnings data on Thursday, July 20th. The company reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.18. Johnson & Johnson had a return on equity of 36.72% and a net margin of 13.35%. The firm had revenue of $25.53 billion during the quarter, compared to analysts’ expectations of $24.63 billion. During the same quarter last year, the firm earned $2.59 EPS. The business’s quarterly revenue was up 6.3% on a year-over-year basis. Equities research analysts forecast that Johnson & Johnson will post 10.75 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Monday, August 28th will be given a dividend of $1.19 per share. The ex-dividend date of this dividend is Friday, August 25th. This represents a $4.76 dividend on an annualized basis and a yield of 2.86%. Johnson & Johnson’s dividend payout ratio is currently 96.36%.

Insiders Place Their Bets

In other Johnson & Johnson news, EVP Kathryn E. Wengel sold 12,465 shares of Johnson & Johnson stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $160.00, for a total transaction of $1,994,400.00. Following the completion of the transaction, the executive vice president now owns 65,934 shares in the company, valued at approximately $10,549,440. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Kathryn E. Wengel sold 12,465 shares of Johnson & Johnson stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $160.00, for a total value of $1,994,400.00. Following the completion of the transaction, the executive vice president now owns 65,934 shares in the company, valued at approximately $10,549,440. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider William Hait sold 14,698 shares of Johnson & Johnson stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $172.00, for a total value of $2,528,056.00. Following the completion of the transaction, the insider now owns 87,747 shares of the company’s stock, valued at approximately $15,092,484. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,163 shares of company stock valued at $7,928,856. 0.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Barclays boosted their target price on Johnson & Johnson from $171.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Monday, July 24th. StockNews.com started coverage on Johnson & Johnson in a research note on Thursday, August 17th. They set a “strong-buy” rating on the stock. TheStreet raised Johnson & Johnson from a “c+” rating to a “b+” rating in a research note on Monday, August 21st. Citigroup started coverage on Johnson & Johnson in a research note on Tuesday, May 30th. They set a “buy” rating and a $185.00 target price on the stock. Finally, Credit Suisse Group raised their price objective on Johnson & Johnson from $170.00 to $175.00 and gave the stock a “neutral” rating in a report on Friday, July 21st. Eight investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Johnson & Johnson currently has an average rating of “Hold” and a consensus target price of $171.80.

Read Our Latest Stock Report on JNJ

Johnson & Johnson Company Profile

(Free Report)

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment provides skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR. CI:LABO, NEUTROGENA, and OGX brands; baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; TYLENOL acetaminophen products; SUDAFED cold, flu, and allergy products; BENADRYL and ZYRTEC allergy products; MOTRIN IB ibuprofen products; NICORETTE smoking cessation products; and PEPCID acid reflux products.