Dai ichi Life Insurance Company Ltd Has $37.45 Million Holdings in Johnson & Johnson (NYSE:JNJ)

Dai ichi Life Insurance Company Ltd reduced its position in Johnson & Johnson (NYSE:JNJ) by 18.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 238,916 shares of the company’s stock after selling 53,157 shares during the quarter. Johnson & Johnson makes up about 0.8% of Dai ichi Life Insurance Company Ltd’s investment portfolio, making the stock its 23rd largest holding. Dai ichi Life Insurance Company Ltd’s holdings in Johnson & Johnson were worth $37,448,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in Johnson & Johnson during the 4th quarter valued at approximately $4,071,642,000. International Assets Investment Management LLC lifted its position in shares of Johnson & Johnson by 7,875.8% in the 4th quarter. International Assets Investment Management LLC now owns 2,090,384 shares of the company’s stock worth $327,647,000 after acquiring an additional 2,064,175 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of Johnson & Johnson in the 4th quarter worth approximately $193,050,000. LSV Asset Management lifted its position in shares of Johnson & Johnson by 89.9% in the 3rd quarter. LSV Asset Management now owns 2,251,770 shares of the company’s stock worth $350,713,000 after acquiring an additional 1,065,880 shares during the period. Finally, abrdn plc lifted its position in shares of Johnson & Johnson by 104.1% in the 4th quarter. abrdn plc now owns 2,014,743 shares of the company’s stock worth $315,791,000 after acquiring an additional 1,027,441 shares during the period. 69.55% of the stock is owned by institutional investors and hedge funds.

Johnson & Johnson Stock Performance

NYSE JNJ traded down $1.27 during trading on Thursday, reaching $152.23. 830,891 shares of the company’s stock were exchanged, compared to its average volume of 7,287,731. The business has a 50 day moving average price of $151.73 and a 200-day moving average price of $155.11. The stock has a market capitalization of $366.37 billion, a P/E ratio of 9.57, a PEG ratio of 2.51 and a beta of 0.55. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $175.97.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The company had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.39 billion. During the same quarter in the prior year, the business earned $2.68 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. Sell-side analysts forecast that Johnson & Johnson will post 10.64 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be paid a $1.24 dividend. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a dividend yield of 3.26%. The ex-dividend date is Monday, May 20th. Johnson & Johnson’s payout ratio is 30.92%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on JNJ shares. Morgan Stanley cut their target price on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 6th. Bank of America dropped their price target on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price target on shares of Johnson & Johnson in a report on Wednesday. Finally, HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and raised their price target for the company from $169.00 to $170.00 in a report on Thursday, April 18th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently 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.