Employees Retirement System of Texas reduced its stake in Johnson & Johnson (NYSE:JNJ) by 2.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 499,500 shares of the company’s stock after selling 12,300 shares during the quarter. Johnson & Johnson accounts for 0.8% of Employees Retirement System of Texas’ investment portfolio, making the stock its 15th largest position. Employees Retirement System of Texas’ holdings in Johnson & Johnson were worth $60,609,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of JNJ. Financial Gravity Wealth Inc. acquired a new stake in Johnson & Johnson during the 1st quarter worth approximately $105,000. WP Advisors LLC acquired a new stake in Johnson & Johnson during the 2nd quarter worth approximately $108,000. FNY Investment Advisers LLC acquired a new stake in Johnson & Johnson during the 2nd quarter worth approximately $117,000. Fusion Family Wealth LLC lifted its holdings in Johnson & Johnson by 621.4% during the 2nd quarter. Fusion Family Wealth LLC now owns 1,010 shares of the company’s stock worth $123,000 after buying an additional 870 shares in the last quarter. Finally, Live Your Vision LLC lifted its holdings in Johnson & Johnson by 58.3% during the 2nd quarter. Live Your Vision LLC now owns 1,363 shares of the company’s stock worth $172,000 after buying an additional 502 shares in the last quarter. Hedge funds and other institutional investors own 66.51% of the company’s stock.
In other news, CAO Ronald A. Kapusta sold 8,441 shares of the firm’s stock in a transaction on Thursday, November 8th. The shares were sold at an average price of $145.15, for a total value of $1,225,211.15. Following the sale, the chief accounting officer now directly owns 17,284 shares in the company, valued at approximately $2,508,772.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Alex Gorsky sold 264,465 shares of the firm’s stock in a transaction on Friday, November 16th. The shares were sold at an average price of $145.96, for a total transaction of $38,601,311.40. Following the completion of the sale, the chief executive officer now owns 481,254 shares in the company, valued at $70,243,833.84. The disclosure for this sale can be found here. Insiders sold a total of 510,544 shares of company stock worth $74,414,877 over the last 90 days. Company insiders own 0.22% of the company’s stock.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and set a $164.00 target price on the stock in a report on Wednesday. Citigroup increased their target price on shares of Johnson & Johnson from $137.00 to $148.00 and gave the stock a “neutral” rating in a report on Monday, October 22nd. Credit Suisse Group increased their target price on shares of Johnson & Johnson from $149.00 to $152.00 and gave the stock an “outperform” rating in a report on Wednesday, October 17th. Raymond James increased their target price on shares of Johnson & Johnson from $144.00 to $149.00 and gave the stock an “outperform” rating in a report on Wednesday, October 17th. Finally, Wells Fargo & Co reiterated an “outperform” rating and set a $160.00 target price (up from $155.00) on shares of Johnson & Johnson in a report on Wednesday, October 17th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $143.90.
Shares of JNJ opened at $145.43 on Friday. Johnson & Johnson has a twelve month low of $118.62 and a twelve month high of $148.99. The firm has a market capitalization of $391.78 billion, a PE ratio of 19.92, a PEG ratio of 2.28 and a beta of 0.59. The company has a current ratio of 1.72, a quick ratio of 1.40 and a debt-to-equity ratio of 0.46.
Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, October 16th. The company reported $2.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.03 by $0.02. Johnson & Johnson had a net margin of 1.89% and a return on equity of 34.62%. The business had revenue of $20.35 billion for the quarter, compared to analyst estimates of $20.05 billion. During the same period last year, the business earned $1.90 EPS. The company’s revenue was up 3.6% on a year-over-year basis. Equities analysts expect that Johnson & Johnson will post 8.16 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 11th. Stockholders of record on Tuesday, November 27th will be issued a $0.90 dividend. The ex-dividend date is Monday, November 26th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.48%. Johnson & Johnson’s payout ratio is 49.32%.
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Johnson & Johnson Profile
Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment includes products used in the baby care, oral care, beauty, over-the-counter pharmaceutical, women’s health, and wound care markets.
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