California Public Employees Retirement System Sells 1,095,480 Shares of Johnson & Johnson $JNJ

California Public Employees Retirement System lowered its position in Johnson & Johnson (NYSE:JNJ) by 12.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,643,947 shares of the company’s stock after selling 1,095,480 shares during the quarter. Johnson & Johnson accounts for about 0.7% of California Public Employees Retirement System’s holdings, making the stock its 16th largest position. California Public Employees Retirement System’s holdings in Johnson & Johnson were worth $1,167,613,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC boosted its position in shares of Johnson & Johnson by 13.9% during the 4th quarter. Brighton Jones LLC now owns 51,876 shares of the company’s stock valued at $7,502,000 after acquiring an additional 6,332 shares in the last quarter. Smart Money Group LLC boosted its holdings in Johnson & Johnson by 6.5% during the first quarter. Smart Money Group LLC now owns 6,687 shares of the company’s stock valued at $1,109,000 after purchasing an additional 407 shares in the last quarter. United Bank grew its stake in shares of Johnson & Johnson by 110.7% in the 1st quarter. United Bank now owns 9,279 shares of the company’s stock valued at $1,539,000 after purchasing an additional 4,876 shares during the period. Donoghue Forlines LLC acquired a new position in shares of Johnson & Johnson in the 1st quarter worth approximately $1,482,000. Finally, Koss Olinger Consulting LLC acquired a new stake in Johnson & Johnson in the 1st quarter valued at $1,130,000. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Price Performance

JNJ opened at $201.92 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a market capitalization of $486.48 billion, a P/E ratio of 19.49, a price-to-earnings-growth ratio of 2.25 and a beta of 0.36. The company’s 50 day simple moving average is $194.05 and its 200-day simple moving average is $175.40. Johnson & Johnson has a one year low of $140.68 and a one year high of $207.81.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 earnings per share (EPS) for the quarter. The firm had revenue of $24.02 billion for the quarter. Johnson & Johnson had a return on equity of 32.73% and a net margin of 27.26%. Sell-side analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 25th will be issued a $1.30 dividend. The ex-dividend date is Tuesday, November 25th. This represents a $5.20 annualized dividend and a yield of 2.6%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 50.19%.

Analyst Ratings Changes

Several research firms have issued reports on JNJ. Wells Fargo & Company set a $212.00 price objective on Johnson & Johnson and gave the stock an “overweight” rating in a research note on Friday, October 3rd. Scotiabank initiated coverage on shares of Johnson & Johnson in a report on Thursday, November 13th. They set a “sector outperform” rating and a $230.00 price target for the company. Cowen reaffirmed a “buy” rating on shares of Johnson & Johnson in a research note on Tuesday, October 14th. Morgan Stanley set a $190.00 target price on shares of Johnson & Johnson in a research note on Wednesday, October 15th. Finally, Loop Capital set a $190.00 price target on Johnson & Johnson in a research report on Wednesday, October 22nd. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus price target of $203.15.

Johnson & Johnson Company Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.