State Board of Administration of Florida Retirement System lowered its stake in Johnson & Johnson (NYSE:JNJ) by 0.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,551,964 shares of the company’s stock after selling 11,030 shares during the period. Johnson & Johnson makes up approximately 1.2% of State Board of Administration of Florida Retirement System’s holdings, making the stock its 8th biggest position. State Board of Administration of Florida Retirement System owned about 0.13% of Johnson & Johnson worth $528,816,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Hussman Strategic Advisors Inc. acquired a new stake in shares of Johnson & Johnson in the third quarter worth about $1,519,000. Heritage Wealth Advisors lifted its position in shares of Johnson & Johnson by 2.6% during the 3rd quarter. Heritage Wealth Advisors now owns 75,723 shares of the company’s stock worth $11,274,000 after purchasing an additional 1,908 shares during the last quarter. Illinois Municipal Retirement Fund lifted its position in shares of Johnson & Johnson by 379.7% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 46,929 shares of the company’s stock worth $6,987,000 after purchasing an additional 37,146 shares during the last quarter. CWH Capital Management Inc. lifted its position in shares of Johnson & Johnson by 2.5% during the 3rd quarter. CWH Capital Management Inc. now owns 18,694 shares of the company’s stock worth $2,783,000 after purchasing an additional 459 shares during the last quarter. Finally, LFA Lugano Financial Advisors SA acquired a new position in shares of Johnson & Johnson during the 3rd quarter worth about $228,000. 67.44% of the stock is owned by institutional investors.
JNJ has been the subject of several research analyst reports. Cantor Fitzgerald boosted their price objective on Johnson & Johnson from $168.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 14th. Stifel Nicolaus cut Johnson & Johnson from a “buy” rating to a “hold” rating in a research report on Wednesday, August 19th. Raymond James reissued a “buy” rating on shares of Johnson & Johnson in a research report on Friday. Credit Suisse Group boosted their price objective on Johnson & Johnson from $163.00 to $168.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 14th. Finally, ValuEngine upgraded Johnson & Johnson from a “sell” rating to a “hold” rating in a research note on Monday, August 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $164.93.
Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Sunday, October 18th. The company reported $2.20 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.22. The company had revenue of $21.08 billion for the quarter, compared to analyst estimates of $20.15 billion. Johnson & Johnson had a return on equity of 34.64% and a net margin of 21.01%. The company’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.12 EPS. Sell-side analysts forecast that Johnson & Johnson will post 7.99 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Tuesday, November 24th will be issued a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Monday, November 23rd. Johnson & Johnson’s payout ratio is currently 46.54%.
In other news, EVP Kathryn E. Wengel sold 16,115 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $153.52, for a total value of $2,473,974.80. Following the transaction, the executive vice president now directly owns 66,658 shares of the company’s stock, valued at approximately $10,233,336.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.27% of the stock is owned by insiders.
Johnson & Johnson Profile
Johnson & Johnson researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DR.
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