Kentucky Retirement Systems Sells 10,134 Shares of Johnson & Johnson $JNJ

Kentucky Retirement Systems cut its position in Johnson & Johnson (NYSE:JNJ) by 6.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 154,631 shares of the company’s stock after selling 10,134 shares during the period. Johnson & Johnson makes up about 0.7% of Kentucky Retirement Systems’ investment portfolio, making the stock its 20th largest position. Kentucky Retirement Systems’ holdings in Johnson & Johnson were worth $23,620,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Monarch Capital Management Inc. grew its position in shares of Johnson & Johnson by 0.7% in the 2nd quarter. Monarch Capital Management Inc. now owns 62,282 shares of the company’s stock valued at $9,514,000 after acquiring an additional 426 shares during the period. North Dallas Bank & Trust Co. acquired a new stake in Johnson & Johnson in the 2nd quarter valued at about $2,274,000. Coppell Advisory Solutions LLC bought a new position in Johnson & Johnson during the second quarter worth about $1,947,000. Marex Group plc acquired a new position in Johnson & Johnson during the second quarter worth approximately $634,000. Finally, MRP Capital Investments LLC raised its stake in Johnson & Johnson by 51.4% in the second quarter. MRP Capital Investments LLC now owns 4,390 shares of the company’s stock valued at $671,000 after buying an additional 1,490 shares during the period. Institutional investors and hedge funds own 69.55% of the company’s stock.

Analysts Set New Price Targets

JNJ has been the topic of a number of recent analyst reports. Loop Capital set a $190.00 target price on Johnson & Johnson in a report on Wednesday, October 22nd. Bank of America upped their price objective on shares of Johnson & Johnson from $198.00 to $204.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. UBS Group raised their target price on shares of Johnson & Johnson from $190.00 to $214.00 and gave the stock a “buy” rating in a research note on Tuesday, October 14th. Argus set a $210.00 price target on shares of Johnson & Johnson in a research note on Wednesday, October 15th. Finally, Daiwa Capital Markets upgraded shares of Johnson & Johnson from a “neutral” rating to an “outperform” rating and set a $203.00 price objective for the company in a research report on Monday, October 20th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus target price of $207.55.

Johnson & Johnson Price Performance

NYSE:JNJ opened at $211.65 on Monday. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $212.27. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.80 and a current ratio of 1.07. The firm’s 50-day simple moving average is $196.09 and its 200 day simple moving average is $177.42. The firm has a market cap of $509.93 billion, a price-to-earnings ratio of 20.43, a P/E/G ratio of 2.36 and a beta of 0.36.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 earnings per share (EPS) for the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 32.73%. The firm had revenue of $24.02 billion during the quarter. As a group, sell-side analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 9th. Investors of record on Tuesday, November 25th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, November 25th. This represents a $5.20 dividend on an annualized basis and a yield of 2.5%. Johnson & Johnson’s dividend payout ratio is currently 50.19%.

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.