Resona Asset Management Co. Ltd. Buys Shares of 811,447 Johnson & Johnson (NYSE:JNJ)

Resona Asset Management Co. Ltd. purchased a new stake in Johnson & Johnson (NYSE:JNJ) during the 4th quarter, Holdings Channel reports. The fund purchased 811,447 shares of the company’s stock, valued at approximately $117,401,000. Johnson & Johnson accounts for approximately 0.7% of Resona Asset Management Co. Ltd.’s investment portfolio, making the stock its 20th biggest holding.

Several other large investors have also modified their holdings of the business. IFS Advisors LLC increased its position in Johnson & Johnson by 138.9% during the 4th quarter. IFS Advisors LLC now owns 172 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. WealthTrak Capital Management LLC purchased a new stake in shares of Johnson & Johnson during the fourth quarter worth about $26,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Johnson & Johnson in the fourth quarter valued at approximately $29,000. Bay Harbor Wealth Management LLC purchased a new position in shares of Johnson & Johnson during the fourth quarter valued at approximately $32,000. Finally, Conquis Financial LLC acquired a new stake in Johnson & Johnson during the fourth quarter worth approximately $33,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Stock Performance

Johnson & Johnson stock opened at $153.03 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11. Johnson & Johnson has a one year low of $140.68 and a one year high of $169.99. The stock’s 50 day moving average price is $159.75 and its 200 day moving average price is $155.91. The firm has a market capitalization of $368.77 billion, a PE ratio of 23.01, a price-to-earnings-growth ratio of 2.56 and a beta of 0.47.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.05. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The business had revenue of $22.52 billion during the quarter, compared to analyst estimates of $22.44 billion. During the same period last year, the business earned $2.29 EPS. The business’s revenue was up 5.3% on a year-over-year basis. As a group, sell-side analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on JNJ shares. Raymond James cut their price target on Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Barclays increased their target price on Johnson & Johnson from $159.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 28th. Bank of America lifted their price target on Johnson & Johnson from $159.00 to $171.00 and gave the company a “neutral” rating in a report on Wednesday, March 5th. Citigroup decreased their target price on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Finally, Morgan Stanley dropped their price target on shares of Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and an average target price of $171.33.

Insider Buying and Selling

In other news, VP Robert J. Decker sold 6,999 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total value of $1,160,994.12. Following the completion of the sale, the vice president now owns 21,001 shares of the company’s stock, valued at approximately $3,483,645.88. The trade was a 25.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Timothy Schmid sold 403 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total value of $62,928.45. Following the transaction, the executive vice president now directly owns 15,098 shares in the company, valued at approximately $2,357,552.70. This represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

About Johnson & Johnson

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.