State of Michigan Retirement System Has $108.48 Million Holdings in Johnson & Johnson (NYSE:JNJ)

State of Michigan Retirement System increased its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 0.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 685,767 shares of the company’s stock after buying an additional 500 shares during the quarter. State of Michigan Retirement System’s holdings in Johnson & Johnson were worth $108,481,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Kennedy Capital Management LLC raised its stake in shares of Johnson & Johnson by 18.6% in the 3rd quarter. Kennedy Capital Management LLC now owns 20,478 shares of the company’s stock valued at $3,189,000 after purchasing an additional 3,206 shares during the period. Rainsberger Wealth Advisors Inc. grew its holdings in shares of Johnson & Johnson by 2.6% in the 3rd quarter. Rainsberger Wealth Advisors Inc. now owns 14,584 shares of the company’s stock valued at $2,271,000 after acquiring an additional 373 shares in the last quarter. Industrial Alliance Investment Management Inc. grew its holdings in shares of Johnson & Johnson by 125.4% in the 3rd quarter. Industrial Alliance Investment Management Inc. now owns 6,671 shares of the company’s stock valued at $1,039,000 after acquiring an additional 3,711 shares in the last quarter. Annandale Capital LLC grew its holdings in shares of Johnson & Johnson by 6.8% in the 3rd quarter. Annandale Capital LLC now owns 19,171 shares of the company’s stock valued at $2,986,000 after acquiring an additional 1,221 shares in the last quarter. Finally, Dana Investment Advisors Inc. grew its holdings in shares of Johnson & Johnson by 125.4% in the 3rd quarter. Dana Investment Advisors Inc. now owns 106,403 shares of the company’s stock valued at $16,572,000 after acquiring an additional 59,199 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Analyst Upgrades and Downgrades

JNJ has been the subject of a number of research analyst reports. Bank of America reduced 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 reiterated an “outperform” rating and set a $175.00 price target on shares of Johnson & Johnson in a report on Monday, June 17th. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Sunday. HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their price target for the stock from $169.00 to $170.00 in a report on Thursday, April 18th. Finally, The Goldman Sachs Group initiated coverage on Johnson & Johnson in a report on Thursday, May 30th. They set a “neutral” rating and a $160.00 price target for the company. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $174.07.

Johnson & Johnson Stock Down 0.3 %

NYSE JNJ opened at $145.62 on Thursday. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $175.97. The company has a 50 day moving average of $148.02 and a 200-day moving average of $153.91. The company has a market cap of $350.46 billion, a price-to-earnings ratio of 9.08, a PEG ratio of 2.43 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The company had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. During the same period in the previous year, the business earned $2.68 earnings per share. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities research analysts expect that Johnson & Johnson will post 10.62 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.41%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend was Monday, May 20th. Johnson & Johnson’s payout ratio is presently 30.92%.

About Johnson & Johnson

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.