Teachers Retirement System of The State of Kentucky Reduces Stock Position in Johnson & Johnson (NYSE:JNJ)

Teachers Retirement System of The State of Kentucky reduced its position in shares of Johnson & Johnson (NYSE:JNJ) by 2.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 193,455 shares of the company’s stock after selling 5,520 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Johnson & Johnson were worth $28,275,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of JNJ. Ariadne Wealth Management LP acquired a new stake in Johnson & Johnson during the second quarter worth approximately $283,000. Aristides Capital LLC acquired a new stake in shares of Johnson & Johnson during the 2nd quarter worth $1,169,000. PVG Asset Management Corp purchased a new position in shares of Johnson & Johnson in the 2nd quarter worth $931,000. Heartland Bank & Trust Co boosted its holdings in Johnson & Johnson by 6.7% in the second quarter. Heartland Bank & Trust Co now owns 8,910 shares of the company’s stock valued at $1,302,000 after acquiring an additional 559 shares during the last quarter. Finally, SPC Financial Inc. grew its position in Johnson & Johnson by 6.6% during the second quarter. SPC Financial Inc. now owns 18,128 shares of the company’s stock valued at $2,650,000 after acquiring an additional 1,120 shares during the period. Institutional investors and hedge funds own 69.55% of the company’s stock.

Insider Buying and Selling at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the business’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 transaction of $930,113.10. Following the completion of the transaction, the vice president now directly owns 18,973 shares in the company, valued at $3,131,683.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.16% of the stock is owned by company insiders.

Analysts Set New Price Targets

JNJ has been the subject of several research reports. 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 note on Friday, July 19th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. TD Cowen decreased their target price on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Daiwa Capital Markets cut Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $160.00 to $150.00 in a report on Tuesday, July 23rd. Finally, Sanford C. Bernstein lifted their price target on shares of Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Seven equities research 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. Based on data from MarketBeat.com, Johnson & Johnson presently has an average rating of “Moderate Buy” and a consensus price target of $173.21.

Johnson & Johnson Trading Up 0.4 %

Johnson & Johnson stock opened at $162.02 on Tuesday. The company has a market cap of $389.93 billion, a P/E ratio of 10.10, a PEG ratio of 2.69 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 50-day moving average is $162.30 and its 200-day moving average is $154.18. 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 released its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The business had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.33 billion. During the same quarter in the previous year, the firm posted $2.80 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, equities analysts expect that Johnson & Johnson will post 10.02 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date was Tuesday, August 27th. Johnson & Johnson’s payout ratio is 30.92%.

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.