Public Employees Retirement Association of Colorado Sells 8,414 Shares of Johnson & Johnson (NYSE:JNJ)

Public Employees Retirement Association of Colorado lowered its position in shares of Johnson & Johnson (NYSE:JNJ) by 2.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 333,420 shares of the company’s stock after selling 8,414 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Johnson & Johnson were worth $48,733,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Innealta Capital LLC purchased a new position in Johnson & Johnson in the second quarter worth $27,000. Christopher J. Hasenberg Inc bought a new stake in shares of Johnson & Johnson during the 1st quarter worth $31,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Johnson & Johnson in the 4th quarter worth about $44,000. MFA Wealth Advisors LLC bought a new position in Johnson & Johnson during the second quarter valued at about $43,000. Finally, Grayhawk Investment Strategies Inc. increased its holdings in Johnson & Johnson by 528.6% during the fourth quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after buying an additional 259 shares during the last quarter. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Price Performance

JNJ stock opened at $164.82 on Friday. The firm has a 50 day moving average of $161.02 and a 200-day moving average of $154.17. The firm has a market capitalization of $396.67 billion, a P/E ratio of 10.28, a price-to-earnings-growth ratio of 2.71 and a beta of 0.53. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. The firm had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.80 EPS. As a group, sell-side analysts predict that Johnson & Johnson will post 10.02 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were issued a $1.24 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $4.96 annualized dividend and a dividend yield of 3.01%. Johnson & Johnson’s payout ratio is currently 30.92%.

Insider Buying and Selling at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the transaction, the vice president now directly owns 18,973 shares in the company, valued at $3,131,683.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Daiwa Capital Markets downgraded shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $160.00 to $150.00 in a research report on Tuesday, July 23rd. TD Cowen reduced their price objective on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Morgan Stanley boosted their target price on Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. TD Securities cut their price target on Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a report on Monday. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $173.21.

Johnson & Johnson Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.