New York State Teachers Retirement System Sells 20,705 Shares of Johnson & Johnson $JNJ

Key Points

• The New York State Teachers Retirement System reduced its holdings in Johnson & Johnson by selling 20,705 shares, bringing its total ownership to approximately 2,050,762 shares, which accounts for 0.7% of its portfolio.
• Johnson & Johnson announced a quarterly dividend of $1.30 per share, which will be paid on December 9th, representing a 2.7% dividend yield.
• Several analysts have upgraded their ratings on Johnson & Johnson, with a consensus rating of "Moderate Buy" and an average target price of $199.59.

New York State Teachers Retirement System decreased its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 1.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,050,762 shares of the company's stock after selling 20,705 shares during the quarter. Johnson & Johnson comprises approximately 0.7% of New York State Teachers Retirement System's portfolio, making the stock its 19th biggest position. New York State Teachers Retirement System owned 0.09% of Johnson & Johnson worth $313,254,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in JNJ. GFG Capital LLC purchased a new stake in Johnson & Johnson in the second quarter worth $35,000. Stone House Investment Management LLC purchased a new position in Johnson & Johnson during the first quarter valued at $47,000. 1248 Management LLC purchased a new position in Johnson & Johnson during the first quarter valued at $48,000. von Borstel & Associates Inc. purchased a new position in Johnson & Johnson during the first quarter valued at $49,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in Johnson & Johnson during the first quarter valued at $52,000. Hedge funds and other institutional investors own 69.55% of the company's stock.

Insider Activity

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the business's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the completion of the sale, the executive vice president directly owned 178,013 shares in the company, valued at $31,652,491.53. The trade was a 24.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Johnson & Johnson Price Performance

NYSE JNJ opened at $193.27 on Friday. Johnson & Johnson has a one year low of $140.68 and a one year high of $194.40. The stock has a 50-day moving average of $180.49 and a 200 day moving average of $164.80. The company has a market capitalization of $465.45 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 2.26 and a beta of 0.40. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. Johnson & Johnson had a return on equity of 33.08% and a net margin of 27.26%.The company had revenue of $24.02 billion during the quarter. On average, sell-side analysts forecast that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Tuesday, November 25th. Johnson & Johnson's payout ratio is currently 55.61%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on JNJ shares. Cowen reissued a "buy" rating on shares of Johnson & Johnson in a research report on Tuesday. UBS Group raised their price objective on Johnson & Johnson from $190.00 to $214.00 and gave the company a "buy" rating in a research report on Tuesday. Barclays raised their price objective on Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Sanford C. Bernstein raised their price objective on Johnson & Johnson from $172.00 to $193.00 and gave the company a "market perform" rating in a research report on Monday, October 6th. Finally, Piper Sandler restated an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $199.59.

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.

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