Public Employees Retirement Association of Colorado Sells 8,414 Shares of Johnson & Johnson (NYSE:JNJ)

Public Employees Retirement Association of Colorado decreased its stake in Johnson & Johnson (NYSE:JNJ) by 2.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 333,420 shares of the company’s stock after selling 8,414 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Johnson & Johnson were worth $48,733,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Gilbert & Cook Inc. increased its stake in shares of Johnson & Johnson by 3.3% in the fourth quarter. Gilbert & Cook Inc. now owns 9,111 shares of the company’s stock valued at $1,428,000 after buying an additional 288 shares during the period. 9258 Wealth Management LLC increased its position in Johnson & Johnson by 2.1% in the 4th quarter. 9258 Wealth Management LLC now owns 22,034 shares of the company’s stock valued at $3,454,000 after acquiring an additional 443 shares during the period. Gryphon Financial Partners LLC lifted its holdings in shares of Johnson & Johnson by 66.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 14,245 shares of the company’s stock worth $2,244,000 after purchasing an additional 5,680 shares during the period. TrinityPoint Wealth LLC lifted its holdings in shares of Johnson & Johnson by 1.9% during the fourth quarter. TrinityPoint Wealth LLC now owns 36,777 shares of the company’s stock worth $5,764,000 after purchasing an additional 700 shares during the period. Finally, Assetmark Inc. increased its holdings in Johnson & Johnson by 2.1% in the fourth quarter. Assetmark Inc. now owns 51,728 shares of the company’s stock valued at $8,108,000 after purchasing an additional 1,060 shares during the period. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Down 0.8 %

Shares of NYSE:JNJ opened at $164.82 on Friday. The firm has a market cap of $396.67 billion, a P/E ratio of 10.28, a PEG ratio of 2.71 and a beta of 0.53. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85. The business’s 50 day simple moving average is $161.02 and its two-hundred day simple moving average is $154.17. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, beating 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 business had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. During the same quarter last year, the firm posted $2.80 EPS. Johnson & Johnson’s revenue was up 4.3% compared to the same quarter last year. As a group, research analysts forecast that Johnson & Johnson will post 10.02 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors 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 annualized dividend and a yield of 3.01%. Johnson & Johnson’s payout ratio is 30.92%.

Insiders Place Their Bets

In other news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now owns 18,973 shares in the company, valued at $3,131,683.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on JNJ shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a research report on Tuesday, July 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Monday. TD Cowen dropped their price target on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. The Goldman Sachs Group decreased their price objective on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Finally, Sanford C. Bernstein boosted their target price on shares of Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.21.

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.