State of Alaska Department of Revenue Sells 29,095 Shares of Johnson & Johnson (NYSE:JNJ)

State of Alaska Department of Revenue trimmed its position in shares of Johnson & Johnson (NYSE:JNJ) by 7.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 387,638 shares of the company’s stock after selling 29,095 shares during the quarter. Johnson & Johnson makes up about 0.7% of State of Alaska Department of Revenue’s investment portfolio, making the stock its 15th biggest position. State of Alaska Department of Revenue’s holdings in Johnson & Johnson were worth $61,319,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of JNJ. Keener Financial Planning LLC acquired a new position in Johnson & Johnson during the 4th quarter worth about $40,000. WFA Asset Management Corp lifted its position in shares of Johnson & Johnson by 61.4% during the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after purchasing an additional 97 shares in the last quarter. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Johnson & Johnson during the fourth quarter valued at approximately $44,000. Disciplined Equity Management Inc. acquired a new stake in shares of Johnson & Johnson in the fourth quarter valued at approximately $45,000. Finally, Grayhawk Investment Strategies Inc. raised its position in Johnson & Johnson by 528.6% in the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after purchasing an additional 259 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Analysts Set New Price Targets

JNJ has been the subject of several research reports. Morgan Stanley lowered their target price on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $169.00 to $170.00 in a report on Thursday, April 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a research note on Monday, June 17th. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a report on Monday. Finally, StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Sunday, June 30th. Eight 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $174.07.

Johnson & Johnson Stock Performance

JNJ stock opened at $145.69 on Friday. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $175.97. The business’s 50-day moving average price is $147.96 and its two-hundred day moving average price is $153.85. The firm has a market cap of $350.63 billion, a PE ratio of 9.08, a P/E/G ratio of 2.42 and a beta of 0.52. 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 (NYSE:JNJ) last released its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.07. The business had revenue of $21.38 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.68 EPS. As a group, research analysts forecast that Johnson & Johnson will post 10.62 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.40%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date was Monday, May 20th. Johnson & Johnson’s dividend payout ratio (DPR) 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.