Johnson & Johnson (NYSE:JNJ) Stake Cut by Kentucky Retirement Systems

Kentucky Retirement Systems lessened its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 0.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 181,359 shares of the company’s stock after selling 1,457 shares during the quarter. Johnson & Johnson makes up 0.8% of Kentucky Retirement Systems’ investment portfolio, making the stock its 19th largest holding. Kentucky Retirement Systems’ holdings in Johnson & Johnson were worth $26,507,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Paces Ferry Wealth Advisors LLC grew its stake in Johnson & Johnson by 2.0% in the second quarter. Paces Ferry Wealth Advisors LLC now owns 8,087 shares of the company’s stock valued at $1,182,000 after purchasing an additional 157 shares in the last quarter. Sienna Gestion grew its stake in shares of Johnson & Johnson by 18.5% in the 2nd quarter. Sienna Gestion now owns 100,741 shares of the company’s stock valued at $14,717,000 after buying an additional 15,761 shares in the last quarter. Shariaportfolio Inc. increased its holdings in Johnson & Johnson by 12.7% in the second quarter. Shariaportfolio Inc. now owns 16,513 shares of the company’s stock worth $2,414,000 after buying an additional 1,858 shares during the last quarter. Blair William & Co. IL raised its position in Johnson & Johnson by 12.3% during the second quarter. Blair William & Co. IL now owns 1,045,546 shares of the company’s stock valued at $152,817,000 after acquiring an additional 114,780 shares in the last quarter. Finally, O Brien Greene & Co. Inc lifted its stake in Johnson & Johnson by 9.1% in the second quarter. O Brien Greene & Co. Inc now owns 9,567 shares of the company’s stock valued at $1,398,000 after acquiring an additional 797 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Trading Down 0.5 %

Shares of JNJ stock opened at $166.17 on Thursday. The firm has a market capitalization of $399.92 billion, a P/E ratio of 10.36, a price-to-earnings-growth ratio of 2.71 and a beta of 0.53. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $168.85. The firm’s fifty day simple moving average is $160.71 and its 200 day simple moving average is $154.09. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The company had revenue of $22.45 billion for the quarter, compared to the consensus estimate of $22.33 billion. During the same quarter in the previous year, the firm posted $2.80 EPS. The business’s revenue was up 4.3% compared to the same quarter last year. As a group, sell-side analysts predict that Johnson & Johnson will post 10.02 EPS for the current year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were given a $1.24 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 2.98%. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on JNJ shares. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Monday. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Morgan Stanley upped their price target on Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. TD Securities reduced their target price on Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Finally, The Goldman Sachs Group lowered their price target on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $173.21.

Insider Transactions at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the transaction, the vice president now directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.16% of the stock is owned by insiders.

Johnson & Johnson Company 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.