South Dakota Investment Council Reduces Position in Johnson & Johnson $JNJ

South Dakota Investment Council decreased its position in Johnson & Johnson (NYSE:JNJ) by 31.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 158,793 shares of the company’s stock after selling 71,623 shares during the period. South Dakota Investment Council’s holdings in Johnson & Johnson were worth $24,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the company. GFG Capital LLC acquired a new stake in shares of Johnson & Johnson in the second quarter worth $35,000. Stone House Investment Management LLC acquired a new stake in Johnson & Johnson during the 1st quarter worth about $47,000. 1248 Management LLC acquired a new stake in Johnson & Johnson during the 1st quarter worth about $48,000. von Borstel & Associates Inc. purchased a new position in shares of Johnson & Johnson during the 1st quarter valued at about $49,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Johnson & Johnson in the first quarter worth about $52,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insider Activity

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $177.81, for a total value of $10,041,108.51. Following the completion of the sale, the executive vice president owned 178,013 shares of the company’s stock, valued at approximately $31,652,491.53. This trade represents a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on JNJ. Barclays boosted their price target on Johnson & Johnson from $165.00 to $176.00 and gave the company an “equal weight” rating in a report on Thursday, July 17th. Raymond James Financial raised their price target on shares of Johnson & Johnson from $174.00 to $209.00 and gave the company an “outperform” rating in a research report on Wednesday, October 15th. Morgan Stanley set a $190.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, October 15th. Erste Group Bank upgraded Johnson & Johnson from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Finally, Johnson Rice set a $190.00 price objective on Johnson & Johnson and gave the company a “hold” rating in a report on Wednesday, October 22nd. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $199.05.

Johnson & Johnson Stock Down 0.0%

NYSE JNJ opened at $189.02 on Friday. The business has a fifty day moving average price of $183.28 and a 200 day moving average price of $167.66. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.80 and a current ratio of 1.07. The company has a market cap of $455.40 billion, a P/E ratio of 18.25, a P/E/G ratio of 2.19 and a beta of 0.40. Johnson & Johnson has a one year low of $140.68 and a one year high of $194.48.

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

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 25th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Tuesday, November 25th. Johnson & Johnson’s payout ratio is currently 50.19%.

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.