Public Employees Retirement System of Ohio Sells 33,276 Shares of Johnson & Johnson $JNJ

Key Points

• The Public Employees Retirement System of Ohio decreased its stake in Johnson & Johnson by 2.9%, selling 33,276 shares to hold a total of 1,112,978 shares, valued at approximately $170 million.
• Analysts have shown increased confidence in Johnson & Johnson, with multiple firms upgrading their ratings and target prices, including Citigroup raising its target from $185 to $200.
• Johnson & Johnson announced a quarterly dividend of $1.30 per share, reflecting an annualized yield of 2.9%, with a payout ratio of approximately 55.61%.

Public Employees Retirement System of Ohio cut its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 2.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,112,978 shares of the company's stock after selling 33,276 shares during the quarter. Johnson & Johnson comprises approximately 0.6% of Public Employees Retirement System of Ohio's holdings, making the stock its 23rd largest holding. Public Employees Retirement System of Ohio's holdings in Johnson & Johnson were worth $170,007,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of JNJ. Elios Financial Group Inc. lifted its position in shares of Johnson & Johnson by 1.5% during the first quarter. Elios Financial Group Inc. now owns 4,496 shares of the company's stock worth $746,000 after purchasing an additional 66 shares during the last quarter. Atlantic Family Wealth LLC lifted its position in shares of Johnson & Johnson by 4.4% during the first quarter. Atlantic Family Wealth LLC now owns 1,603 shares of the company's stock worth $266,000 after purchasing an additional 67 shares during the last quarter. MBA Advisors LLC lifted its position in shares of Johnson & Johnson by 1.2% during the first quarter. MBA Advisors LLC now owns 5,553 shares of the company's stock worth $921,000 after purchasing an additional 68 shares during the last quarter. Sovereign Financial Group Inc. lifted its position in shares of Johnson & Johnson by 1.8% during the first quarter. Sovereign Financial Group Inc. now owns 3,928 shares of the company's stock worth $651,000 after purchasing an additional 69 shares during the last quarter. Finally, Nabity Jensen Investment Management Inc lifted its position in shares of Johnson & Johnson by 1.5% during the first quarter. Nabity Jensen Investment Management Inc now owns 4,624 shares of the company's stock worth $767,000 after purchasing an additional 69 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors.

Insider Transactions at Johnson & Johnson

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $177.81, for a total value of $10,041,108.51. Following the transaction, the executive vice president owned 178,013 shares in the company, valued at $31,652,491.53. The trade was a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. UBS Group lifted their target price on Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. The Goldman Sachs Group lifted their target price on Johnson & Johnson from $185.00 to $186.00 and gave the stock a "buy" rating in a research report on Friday, September 19th. Wall Street Zen upgraded Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. Citigroup lifted their price objective on Johnson & Johnson from $185.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, August 21st. Finally, Guggenheim upgraded Johnson & Johnson from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $167.00 to $206.00 in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $181.40.

Johnson & Johnson Price Performance

JNJ opened at $176.62 on Thursday. The business's 50-day moving average is $173.80 and its two-hundred day moving average is $161.90. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $181.16. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. The firm has a market capitalization of $425.35 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 2.25 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.09. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%.The company had revenue of $23.74 billion for the quarter, compared to analyst estimates of $22.85 billion. During the same quarter in the previous year, the firm earned $2.82 earnings per share. The firm's quarterly revenue was up 5.8% compared to the same quarter last year. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. Research analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 2.9%. The ex-dividend date was Tuesday, August 26th. Johnson & Johnson's payout ratio is 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.

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