New Mexico Educational Retirement Board Has $24.22 Million Holdings in Johnson & Johnson (NYSE:JNJ)

New Mexico Educational Retirement Board grew its holdings in Johnson & Johnson (NYSE:JNJ) by 21.1% during the first quarter, Holdings Channel.com reports. The firm owned 153,093 shares of the company’s stock after acquiring an additional 26,708 shares during the quarter. Johnson & Johnson accounts for about 0.8% of New Mexico Educational Retirement Board’s portfolio, making the stock its 12th biggest position. New Mexico Educational Retirement Board’s holdings in Johnson & Johnson were worth $24,218,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in JNJ. Norges Bank bought a new position in shares of Johnson & Johnson in the fourth quarter valued at $4,071,642,000. Wellington Management Group LLP grew its stake in shares of Johnson & Johnson by 16.4% in the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after buying an additional 3,391,657 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Johnson & Johnson by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,945,533 shares of the company’s stock valued at $2,483,532,000 after buying an additional 241,799 shares in the last quarter. California Public Employees Retirement System grew its stake in shares of Johnson & Johnson by 4.9% in the fourth quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock valued at $1,664,620,000 after buying an additional 498,647 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Johnson & Johnson by 10.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,169,190 shares of the company’s stock valued at $1,593,908,000 after buying an additional 975,485 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Stock Up 0.2 %

JNJ stock opened at $146.16 on Monday. The company has a market cap of $351.76 billion, a PE ratio of 9.11, a price-to-earnings-growth ratio of 2.43 and a beta of 0.53. The business has a 50-day simple moving average of $148.14 and a 200 day simple moving average of $154.05. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $175.97. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36.

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

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were paid a dividend of $1.24 per share. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date was Monday, May 20th. This represents a $4.96 annualized dividend and a yield of 3.39%. Johnson & Johnson’s payout ratio is presently 30.92%.

Wall Street Analyst Weigh In

A number of research firms have commented on JNJ. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price objective on shares of Johnson & Johnson in a research report on Monday, June 17th. Morgan Stanley reduced their price objective on shares of 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. HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $169.00 to $170.00 in a research report on Thursday, April 18th. Bank of America reduced their price objective on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Thursday, June 20th. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.07.

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.