State of New Jersey Common Pension Fund D Has $135.12 Million Position in Johnson & Johnson $JNJ

Key Points

• The State of New Jersey Common Pension Fund D has reduced its holdings in Johnson & Johnson by 8.3%, now owning approximately $135.12 million worth of shares.
• Johnson & Johnson reported $2.77 EPS for the quarter, surpassing analysts' expectations of $2.68, alongside a revenue increase of 5.8% year-over-year.
• The company recently declared a quarterly dividend of $1.30 per share, which equates to an annualized dividend of $5.20 and a yield of 3.0%.

State of New Jersey Common Pension Fund D decreased its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 8.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 814,770 shares of the company's stock after selling 73,563 shares during the period. Johnson & Johnson comprises about 0.6% of State of New Jersey Common Pension Fund D's portfolio, making the stock its 23rd largest holding. State of New Jersey Common Pension Fund D's holdings in Johnson & Johnson were worth $135,121,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC boosted its holdings in shares of Johnson & Johnson by 51.8% during the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock valued at $42,000 after acquiring an additional 86 shares during the period. Stone House Investment Management LLC acquired a new position in shares of Johnson & Johnson during the first quarter valued at $47,000. von Borstel & Associates Inc. acquired a new position in shares of Johnson & Johnson during the first quarter valued at $49,000. Capital A Wealth Management LLC acquired a new position in shares of Johnson & Johnson during the fourth quarter valued at $50,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Johnson & Johnson during the first quarter valued at $52,000. Institutional investors own 69.55% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on JNJ. Bank of America boosted their price target on shares of Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Leerink Partnrs downgraded shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Barclays upped their price objective on shares of Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Guggenheim reaffirmed a "neutral" rating and issued a $167.00 price objective (up previously from $164.00) on shares of Johnson & Johnson in a report on Thursday, July 17th. Finally, Erste Group Bank raised shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Nine equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $174.50.

Johnson & Johnson Trading Down 0.2%

JNJ stock traded down $0.38 during mid-day trading on Monday, reaching $176.26. 9,201,759 shares of the stock traded hands, compared to its average volume of 9,011,734. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $177.57. The company has a market cap of $424.49 billion, a P/E ratio of 18.85, a P/E/G ratio of 2.25 and a beta of 0.41. The stock's fifty day moving average is $161.28 and its 200-day moving average is $158.43.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $0.09. The company had revenue of $23.74 billion during the quarter, compared to analyst estimates of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The business's quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.82 earnings per share. As a group, sell-side analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be issued a $1.30 dividend. The ex-dividend date is Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.0%. Johnson & Johnson's dividend payout ratio is currently 55.61%.

About Johnson & Johnson

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.