Retirement Systems of Alabama Cuts Stock Position in Johnson & Johnson (NYSE:JNJ)

Retirement Systems of Alabama decreased its position in shares of Johnson & Johnson (NYSE:JNJ) by 0.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,242,909 shares of the company’s stock after selling 181 shares during the period. Johnson & Johnson accounts for 0.7% of Retirement Systems of Alabama’s holdings, making the stock its 18th biggest position. Retirement Systems of Alabama owned 0.05% of Johnson & Johnson worth $179,750,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in JNJ. IFS Advisors LLC grew its stake in shares of Johnson & Johnson by 138.9% during the 4th quarter. IFS Advisors LLC now owns 172 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares during the period. Highline Wealth Partners LLC purchased a new stake in shares of Johnson & Johnson during the 3rd quarter worth about $31,000. Bay Harbor Wealth Management LLC acquired a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $32,000. RPg Family Wealth Advisory LLC purchased a new stake in Johnson & Johnson in the 3rd quarter worth $35,000. Finally, Mowery & Schoenfeld Wealth Management LLC lifted its holdings in Johnson & Johnson by 58.7% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after purchasing an additional 91 shares in the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Johnson & Johnson news, Director Mark A. Weinberger bought 1,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was acquired at an average price of $147.22 per share, with a total value of $147,220.00. Following the completion of the transaction, the director now directly owns 1,000 shares in the company, valued at approximately $147,220. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Citigroup dropped their price target on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Raymond James lowered their target price on Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Wolfe Research initiated coverage on shares of Johnson & Johnson in a report on Friday, November 15th. They issued an “outperform” rating and a $190.00 target price on the stock. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 25th. Finally, Bank of America decreased their price objective on shares of Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating for the company in a research note on Thursday, January 23rd. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $170.67.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $153.10 on Friday. The business has a 50 day moving average price of $147.46 and a two-hundred day moving average price of $156.06. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $168.85. The firm has a market cap of $368.61 billion, a PE ratio of 23.02, a price-to-earnings-growth ratio of 2.44 and a beta of 0.52. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.05. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.35%. The company had revenue of $22.52 billion for the quarter, compared to analysts’ expectations of $22.44 billion. During the same period in the prior year, the company earned $2.29 earnings per share. The firm’s revenue was up 5.3% compared to the same quarter last year. Sell-side analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be given a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 74.59%.

Johnson & Johnson Company Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.