Retirement Systems of Alabama Sells 12,046 Shares of Johnson & Johnson (NYSE:JNJ)

Retirement Systems of Alabama decreased its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 1.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,230,863 shares of the company's stock after selling 12,046 shares during the quarter. Johnson & Johnson comprises about 0.8% of Retirement Systems of Alabama's portfolio, making the stock its 16th largest holding. Retirement Systems of Alabama owned approximately 0.05% of Johnson & Johnson worth $204,126,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. WealthTrak Capital Management LLC bought a new position in Johnson & Johnson during the fourth quarter valued at $26,000. Mountain Hill Investment Partners Corp. bought a new position in Johnson & Johnson during the fourth quarter valued at $29,000. Conquis Financial LLC bought a new position in Johnson & Johnson during the fourth quarter valued at $33,000. Bernard Wealth Management Corp. bought a new position in Johnson & Johnson during the fourth quarter valued at $36,000. Finally, Runnymede Capital Advisors Inc. bought a new position in Johnson & Johnson during the fourth quarter valued at $38,000. Institutional investors own 69.55% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Royal Bank Of Canada reiterated an "outperform" rating and set a $181.00 price objective on shares of Johnson & Johnson in a research report on Thursday, June 5th. Bank of America lowered their target price on shares of Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Morgan Stanley raised their target price on shares of Johnson & Johnson from $164.00 to $169.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 16th. Leerink Partnrs lowered shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, Leerink Partners lowered shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and lowered their target price for the stock from $169.00 to $153.00 in a report on Tuesday, May 13th. Eleven research analysts have rated the stock with a hold rating, seven have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Johnson & Johnson has a consensus rating of "Moderate Buy" and an average target price of $170.88.

Johnson & Johnson Stock Down 0.6%

NYSE:JNJ opened at $149.81 on Friday. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $169.99. The stock has a market capitalization of $360.44 billion, a P/E ratio of 16.66, a P/E/G ratio of 2.28 and a beta of 0.42. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.26. The company's 50-day simple moving average is $154.07 and its 200-day simple moving average is $153.63.

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

Johnson & Johnson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th were issued a $1.30 dividend. This is a boost from Johnson & Johnson's previous quarterly dividend of $1.24. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend was Tuesday, May 27th. Johnson & Johnson's dividend payout ratio (DPR) is currently 57.84%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.