Johnson & Johnson (NYSE:JNJ) Shares Purchased by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System increased its position in shares of Johnson & Johnson (NYSE:JNJ) by 13.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,895,757 shares of the company’s stock after buying an additional 332,661 shares during the quarter. Johnson & Johnson comprises approximately 0.8% of State Board of Administration of Florida Retirement System’s portfolio, making the stock its 17th largest position. State Board of Administration of Florida Retirement System owned about 0.12% of Johnson & Johnson worth $448,842,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of JNJ. Dynamic Advisor Solutions LLC increased its position in shares of Johnson & Johnson by 8.2% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 55,945 shares of the company’s stock worth $9,014,000 after purchasing an additional 4,221 shares in the last quarter. Diligent Investors LLC increased its position in Johnson & Johnson by 2.7% during the fourth quarter. Diligent Investors LLC now owns 10,107 shares of the company’s stock worth $1,584,000 after buying an additional 269 shares during the period. Gilman Hill Asset Management LLC lifted its stake in Johnson & Johnson by 24.5% in the fourth quarter. Gilman Hill Asset Management LLC now owns 15,815 shares of the company’s stock valued at $2,479,000 after buying an additional 3,117 shares during the last quarter. Clarity Wealth Advisors LLC boosted its holdings in shares of Johnson & Johnson by 1.5% in the fourth quarter. Clarity Wealth Advisors LLC now owns 22,969 shares of the company’s stock valued at $3,600,000 after acquiring an additional 338 shares during the period. Finally, Kesler Norman & Wride LLC grew its position in shares of Johnson & Johnson by 3.6% during the fourth quarter. Kesler Norman & Wride LLC now owns 45,669 shares of the company’s stock worth $7,158,000 after acquiring an additional 1,594 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ traded up $0.34 during midday trading on Thursday, hitting $156.92. 4,346,047 shares of the company’s stock were exchanged, compared to its average volume of 7,292,670. The firm has a market cap of $377.66 billion, a P/E ratio of 9.77, a PEG ratio of 2.54 and a beta of 0.52. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94. The stock’s 50 day moving average price is $148.15 and its 200-day moving average price is $153.39. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $175.97.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The business had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $22.33 billion. During the same period in the previous year, the firm posted $2.80 EPS. The company’s quarterly revenue was up 4.3% on a year-over-year basis. Equities research analysts anticipate that Johnson & Johnson will post 10.49 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th will be paid a $1.24 dividend. The ex-dividend date is Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.16%. Johnson & Johnson’s payout ratio is presently 30.92%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 price target on shares of Johnson & Johnson in a research note on Thursday. Bank of America dropped their price target on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. The Goldman Sachs Group began coverage on Johnson & Johnson in a research report on Thursday, May 30th. They set a “neutral” rating and a $160.00 price objective for the company. HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and boosted their target price for the company from $169.00 to $170.00 in a report on Thursday, April 18th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research report on Monday, July 1st. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $175.29.

About Johnson & Johnson

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.