Employees Retirement System of Texas cut its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 2.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 499,500 shares of the company’s stock after selling 12,300 shares during the period. Johnson & Johnson comprises approximately 0.8% of Employees Retirement System of Texas’ investment portfolio, making the stock its 15th biggest holding. Employees Retirement System of Texas’ holdings in Johnson & Johnson were worth $60,609,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Financial Gravity Wealth Inc. acquired a new position in shares of Johnson & Johnson in the first quarter worth about $105,000. WP Advisors LLC acquired a new position in shares of Johnson & Johnson in the second quarter worth about $108,000. FNY Investment Advisers LLC acquired a new position in shares of Johnson & Johnson in the second quarter worth about $117,000. Fusion Family Wealth LLC raised its position in shares of Johnson & Johnson by 621.4% in the second quarter. Fusion Family Wealth LLC now owns 1,010 shares of the company’s stock worth $123,000 after acquiring an additional 870 shares during the period. Finally, Live Your Vision LLC raised its position in shares of Johnson & Johnson by 58.3% in the second quarter. Live Your Vision LLC now owns 1,363 shares of the company’s stock worth $172,000 after acquiring an additional 502 shares during the period. Institutional investors own 66.51% of the company’s stock.
In related news, insider Joaquin Duato sold 40,000 shares of the company’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $144.36, for a total transaction of $5,774,400.00. Following the completion of the sale, the insider now owns 112,848 shares of the company’s stock, valued at approximately $16,290,737.28. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Ronald A. Kapusta sold 8,441 shares of the company’s stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $145.15, for a total transaction of $1,225,211.15. Following the sale, the chief accounting officer now directly owns 17,284 shares of the company’s stock, valued at approximately $2,508,772.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 510,544 shares of company stock valued at $74,414,877. 0.22% of the stock is owned by corporate insiders.
JNJ has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and set a $165.00 price objective for the company in a research report on Tuesday, November 20th. HC Wainwright restated a “buy” rating on shares of Johnson & Johnson in a research report on Wednesday, October 17th. Credit Suisse Group set a $149.00 price target on shares of Johnson & Johnson and gave the stock a “buy” rating in a research report on Sunday, October 14th. Citigroup upped their price target on shares of Johnson & Johnson from $137.00 to $148.00 and gave the stock a “neutral” rating in a research report on Monday, October 22nd. Finally, Wells Fargo & Co restated an “outperform” rating and set a $160.00 price target on shares of Johnson & Johnson in a research report on Friday, September 14th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $143.90.
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 company has a debt-to-equity ratio of 0.46, a current ratio of 1.72 and a quick ratio of 1.40. The stock has a market cap of $391.78 billion, a P/E ratio of 19.92, a P/E/G ratio of 2.28 and a beta of 0.59.
Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, October 16th. The company reported $2.05 earnings per share for the quarter, topping the 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 firm had revenue of $20.35 billion during the quarter, compared to the consensus estimate of $20.05 billion. During the same quarter in the prior year, the firm earned $1.90 EPS. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, sell-side analysts expect that Johnson & Johnson will post 8.16 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 11th. Investors of record on Tuesday, November 27th will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Monday, November 26th. This represents a $3.60 annualized dividend and a yield of 2.48%. Johnson & Johnson’s dividend payout ratio is presently 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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