State of Alaska Department of Revenue Decreases Stock Holdings in Johnson & Johnson (NYSE:JNJ)

State of Alaska Department of Revenue lowered its position in Johnson & Johnson (NYSE:JNJ) by 6.4% during the third quarter, HoldingsChannel.com reports. The fund owned 350,098 shares of the company’s stock after selling 23,925 shares during the quarter. Johnson & Johnson accounts for approximately 0.6% of State of Alaska Department of Revenue’s holdings, making the stock its 19th largest holding. State of Alaska Department of Revenue’s holdings in Johnson & Johnson were worth $56,735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Innealta Capital LLC purchased a new position in shares of Johnson & Johnson during the 2nd quarter worth approximately $27,000. Mowery & Schoenfeld Wealth Management LLC increased its position in Johnson & Johnson by 58.7% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after buying an additional 91 shares in the last quarter. MFA Wealth Advisors LLC acquired a new position in shares of Johnson & Johnson in the second quarter worth $43,000. Fairfield Financial Advisors LTD purchased a new stake in shares of Johnson & Johnson in the second quarter valued at $46,000. Finally, Fairway Wealth LLC increased its position in Johnson & Johnson by 217.1% during the 2nd quarter. Fairway Wealth LLC now owns 333 shares of the company’s stock worth $49,000 after purchasing an additional 228 shares in the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

JNJ has been the topic of several analyst reports. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Royal Bank of Canada lifted their target price on shares of Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Daiwa Capital Markets cut Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $160.00 to $150.00 in a report on Tuesday, July 23rd. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company lifted their target price on Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $175.93.

Johnson & Johnson Stock Performance

Johnson & Johnson stock opened at $161.60 on Tuesday. The firm has a market capitalization of $388.92 billion, a PE ratio of 10.07, a price-to-earnings-growth ratio of 2.90 and a beta of 0.52. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85. The stock’s 50 day moving average price is $163.45 and its 200 day moving average price is $155.19. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. The business had revenue of $22.47 billion for the quarter, compared to analysts’ expectations of $22.17 billion. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.46%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.66 earnings per share. As a group, sell-side analysts expect that Johnson & Johnson will post 9.94 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be paid a dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 annualized dividend and a dividend yield of 3.07%. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Insider Transactions at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the transaction, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

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.