State of Tennessee Department of Treasury Decreases Stock Position in Johnson & Johnson (NYSE:JNJ)

State of Tennessee Department of Treasury decreased its stake in shares of Johnson & Johnson (NYSE:JNJ) by 3.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 871,637 shares of the company’s stock after selling 29,324 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Johnson & Johnson were worth $126,056,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Oregon Pacific Wealth Management LLC acquired a new position in Johnson & Johnson during the 4th quarter worth approximately $949,000. Horan Securities Inc. raised its holdings in shares of Johnson & Johnson by 1.3% in the 4th quarter. Horan Securities Inc. now owns 7,178 shares of the company’s stock valued at $1,038,000 after purchasing an additional 90 shares in the last quarter. Strategic Financial Concepts LLC lifted its position in shares of Johnson & Johnson by 57.9% during the 4th quarter. Strategic Financial Concepts LLC now owns 3,467 shares of the company’s stock worth $501,000 after purchasing an additional 1,271 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in Johnson & Johnson in the third quarter valued at $69,859,000. Finally, KPP Advisory Services LLC raised its stake in Johnson & Johnson by 4.7% in the fourth quarter. KPP Advisory Services LLC now owns 11,492 shares of the company’s stock valued at $1,662,000 after buying an additional 515 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insiders Place Their Bets

In other Johnson & Johnson news, VP Robert J. Decker sold 6,999 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the transaction, the vice president now directly owns 21,001 shares in the company, valued at approximately $3,483,645.88. This represents a 25.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Timothy Schmid sold 403 shares of Johnson & Johnson stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $156.15, for a total transaction of $62,928.45. Following the sale, the executive vice president now owns 15,098 shares of the company’s stock, valued at approximately $2,357,552.70. The trade was a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on JNJ. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Johnson & Johnson in a research report on Wednesday. Royal Bank of Canada reissued an “outperform” rating and set a $181.00 price objective on shares of Johnson & Johnson in a report on Wednesday, April 16th. The Goldman Sachs Group upgraded shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and upped their target price for the company from $157.00 to $172.00 in a report on Wednesday, April 9th. Leerink Partners cut their price target on shares of Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Finally, Bank of America decreased their price objective on shares of Johnson & Johnson from $171.00 to $159.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $171.82.

Johnson & Johnson Stock Up 2.3 %

Shares of Johnson & Johnson stock opened at $157.42 on Monday. The company has a market cap of $379.37 billion, a P/E ratio of 23.67, a PEG ratio of 2.56 and a beta of 0.49. The firm has a fifty day moving average of $159.49 and a two-hundred day moving average of $154.95. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11. Johnson & Johnson has a one year low of $140.68 and a one year high of $169.99.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.18. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The firm had revenue of $21.89 billion during the quarter, compared to the consensus estimate of $21.65 billion. On average, analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend is Tuesday, May 27th. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.24. Johnson & Johnson’s dividend payout ratio is currently 74.59%.

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.