State of New Jersey Common Pension Fund D lifted its position in Johnson & Johnson (NYSE:JNJ) by 4.8% in the second quarter, Holdings Channel.com reports. The institutional investor owned 2,410,000 shares of the company’s stock after purchasing an additional 110,000 shares during the period. Johnson & Johnson makes up about 1.2% of State of New Jersey Common Pension Fund D’s holdings, making the stock its 11th largest holding. State of New Jersey Common Pension Fund D’s holdings in Johnson & Johnson were worth $335,665,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of JNJ. Evolution Wealth Advisors LLC acquired a new position in Johnson & Johnson during the 4th quarter valued at $40,000. Horan Securities Inc. raised its stake in Johnson & Johnson by 122.3% during the 4th quarter. Horan Securities Inc. now owns 438 shares of the company’s stock valued at $56,000 after purchasing an additional 241 shares during the last quarter. FNY Investment Advisers LLC raised its stake in Johnson & Johnson by 594.4% during the 4th quarter. FNY Investment Advisers LLC now owns 500 shares of the company’s stock valued at $64,000 after purchasing an additional 428 shares during the last quarter. Thor Advisors LLC acquired a new position in Johnson & Johnson during the 1st quarter valued at $69,000. Finally, CKW Financial Group raised its stake in Johnson & Johnson by 18.8% during the 4th quarter. CKW Financial Group now owns 810 shares of the company’s stock valued at $105,000 after purchasing an additional 128 shares during the last quarter. Institutional investors and hedge funds own 66.78% of the company’s stock.
Johnson & Johnson stock traded up $0.78 on Friday, hitting $131.07. The company’s stock had a trading volume of 6,573,218 shares, compared to its average volume of 7,301,963. The stock has a market capitalization of $343.67 billion, a price-to-earnings ratio of 16.02, a P/E/G ratio of 2.20 and a beta of 0.69. The company has a current ratio of 1.33, a quick ratio of 1.13 and a debt-to-equity ratio of 0.46. The firm has a fifty day simple moving average of $136.70. Johnson & Johnson has a one year low of $121.00 and a one year high of $148.99.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th will be issued a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Monday, August 26th. Johnson & Johnson’s payout ratio is 46.45%.
In other news, Director Marillyn A. Hewson bought 3,000 shares of the stock in a transaction dated Tuesday, June 11th. The shares were acquired at an average price of $139.68 per share, with a total value of $419,040.00. Following the acquisition, the director now owns 3,000 shares in the company, valued at $419,040. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is currently owned by corporate insiders.
Several equities analysts recently commented on JNJ shares. Barclays started coverage on shares of Johnson & Johnson in a research note on Friday, June 21st. They set a “hold” rating and a $140.00 target price for the company. Credit Suisse Group set a $156.00 price target on shares of Johnson & Johnson and gave the company a “buy” rating in a report on Thursday, July 18th. Zacks Investment Research lowered shares of Johnson & Johnson from a “buy” rating to a “hold” rating and set a $139.00 price target on the stock. in a report on Thursday, July 18th. Raymond James lowered their price target on shares of Johnson & Johnson from $147.00 to $146.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Finally, Morgan Stanley boosted their price target on shares of Johnson & Johnson from $134.00 to $145.00 and gave the company an “equal weight” rating in a report on Wednesday, April 17th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Johnson & Johnson currently has a consensus rating of “Buy” and an average price target of $148.56.
Johnson & Johnson Profile
Johnson & Johnson, together with its subsidiaries, 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, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.
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