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

Teachers Retirement System of The State of Kentucky trimmed its holdings in Johnson & Johnson (NYSE:JNJ) by 5.7% during the third quarter, Holdings Channel reports. The institutional investor owned 182,432 shares of the company’s stock after selling 11,023 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Johnson & Johnson were worth $29,565,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of JNJ. ORG Partners LLC lifted its holdings in shares of Johnson & Johnson by 1,202.2% during the 2nd quarter. ORG Partners LLC now owns 6,589 shares of the company’s stock valued at $967,000 after acquiring an additional 6,083 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of Johnson & Johnson by 3.3% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 129,810 shares of the company’s stock valued at $18,973,000 after buying an additional 4,116 shares in the last quarter. Cornerstone Wealth Management LLC grew its position in Johnson & Johnson by 5.8% in the second quarter. Cornerstone Wealth Management LLC now owns 44,565 shares of the company’s stock valued at $6,514,000 after acquiring an additional 2,456 shares in the last quarter. Keudell Morrison Wealth Management grew its holdings in Johnson & Johnson by 3.4% during the 2nd quarter. Keudell Morrison Wealth Management now owns 8,310 shares of the company’s stock valued at $1,215,000 after purchasing an additional 272 shares in the last quarter. Finally, Country Club Bank increased its stake in Johnson & Johnson by 24.7% during the 2nd quarter. Country Club Bank now owns 121,466 shares of the company’s stock worth $17,710,000 after buying an additional 24,052 shares during the period. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

NYSE JNJ opened at $149.26 on Wednesday. The stock has a 50-day simple moving average of $157.84 and a 200 day simple moving average of $156.40. The stock has a market capitalization of $359.35 billion, a PE ratio of 21.60, a P/E/G ratio of 2.66 and a beta of 0.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $168.85.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The company had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. During the same period last year, the firm earned $2.66 EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. Research analysts anticipate that Johnson & Johnson will post 9.93 EPS for the current year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th were paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend was Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 71.78%.

Analysts Set New Price Targets

A number of analysts recently issued reports on JNJ shares. Citigroup lifted their price target on shares of Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley increased their target price on shares of Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Royal Bank of Canada boosted their price objective on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Wolfe Research started coverage on Johnson & Johnson in a report on Friday, November 15th. They set an “outperform” rating and a $190.00 target price for the company. Finally, StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $175.40.

Johnson & Johnson 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.