Johnson & Johnson (NYSE:JNJ) Shares Sold by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board cut its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 2.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,485 shares of the company's stock after selling 2,300 shares during the quarter. Johnson & Johnson makes up approximately 0.7% of New Mexico Educational Retirement Board's holdings, making the stock its 20th largest holding. New Mexico Educational Retirement Board's holdings in Johnson & Johnson were worth $18,655,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. WealthTrak Capital Management LLC purchased a new position in shares of Johnson & Johnson during the fourth quarter valued at approximately $26,000. Mountain Hill Investment Partners Corp. bought a new stake in Johnson & Johnson in the 4th quarter worth approximately $29,000. Conquis Financial LLC bought a new stake in shares of Johnson & Johnson during the 4th quarter valued at $33,000. Bernard Wealth Management Corp. purchased a new position in shares of Johnson & Johnson during the 4th quarter valued at $36,000. Finally, Runnymede Capital Advisors Inc. purchased a new position in shares of Johnson & Johnson during the 4th quarter valued at $38,000. 69.55% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on JNJ. Royal Bank Of Canada reiterated an "outperform" rating and issued a $181.00 price target on shares of Johnson & Johnson in a research note on Thursday, June 5th. The Goldman Sachs Group upgraded shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and upped their price target for the company from $157.00 to $172.00 in a report on Wednesday, April 9th. Leerink Partners downgraded shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $169.00 to $153.00 in a research note on Tuesday, May 13th. Benchmark upgraded shares of Johnson & Johnson to a "strong-buy" rating in a research note on Thursday, April 24th. Finally, Morgan Stanley reaffirmed an "underperform" rating on shares of Johnson & Johnson in a research report on Thursday. Eleven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Johnson & Johnson presently has a consensus rating of "Moderate Buy" and an average price target of $171.00.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ traded down $0.82 during midday trading on Friday, reaching $156.87. The company had a trading volume of 7,866,488 shares, compared to its average volume of 8,066,975. The business's 50-day simple moving average is $153.73 and its 200 day simple moving average is $154.35. The stock has a market cap of $377.44 billion, a P/E ratio of 17.45, a P/E/G ratio of 2.15 and a beta of 0.41. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99. The company has a current ratio of 1.26, a quick ratio of 1.03 and a debt-to-equity ratio of 0.49.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.59 by $0.18. The business had revenue of $21.89 billion during the quarter, compared to analysts' expectations of $21.65 billion. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. On average, analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th were paid a $1.30 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.31%. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.24. Johnson & Johnson's dividend payout ratio is presently 57.84%.

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.