New York State Teachers Retirement System Sells 89,920 Shares of Johnson & Johnson (NYSE:JNJ)

New York State Teachers Retirement System reduced its position in Johnson & Johnson (NYSE:JNJ) by 3.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,250,123 shares of the company’s stock after selling 89,920 shares during the quarter. Johnson & Johnson makes up about 0.8% of New York State Teachers Retirement System’s portfolio, making the stock its 17th largest position. New York State Teachers Retirement System’s holdings in Johnson & Johnson were worth $364,655,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Innealta Capital LLC acquired a new position in Johnson & Johnson in the second quarter valued at approximately $27,000. Highline Wealth Partners LLC acquired a new position in shares of Johnson & Johnson during the 3rd quarter valued at $31,000. Mowery & Schoenfeld Wealth Management LLC boosted its stake 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 acquiring an additional 91 shares in the last quarter. Morton Brown Family Wealth LLC increased its stake in Johnson & Johnson by 400.0% in the third quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock valued at $41,000 after purchasing an additional 200 shares in the last quarter. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Johnson & Johnson during the second quarter valued at about $43,000. Institutional investors own 69.55% of the company’s stock.

Analyst Ratings Changes

JNJ has been the subject of a number of research analyst reports. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Daiwa America lowered shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. TD Cowen dropped their price objective on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Finally, Wells Fargo & Company upped their target price on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $175.93.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock opened at $159.86 on Friday. The firm has a market capitalization of $384.88 billion, a P/E ratio of 23.13, a price-to-earnings-growth ratio of 2.90 and a beta of 0.52. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The business’s fifty day simple moving average is $163.39 and its 200 day simple moving average is $155.35. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85.

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

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is 71.78%.

Insiders Place Their Bets

In other news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the transaction, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company 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.