State of Alaska Department of Revenue Acquires 44,600 Shares of Johnson & Johnson (NYSE:JNJ)

State of Alaska Department of Revenue lifted its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 14.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 352,378 shares of the company's stock after purchasing an additional 44,600 shares during the quarter. Johnson & Johnson comprises 0.7% of State of Alaska Department of Revenue's investment portfolio, making the stock its 21st biggest holding. State of Alaska Department of Revenue's holdings in Johnson & Johnson were worth $58,437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. WealthTrak Capital Management LLC bought a new position in Johnson & Johnson in the 4th quarter valued at about $26,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Johnson & Johnson during the 4th quarter worth approximately $29,000. Conquis Financial LLC purchased a new position in Johnson & Johnson in the 4th quarter valued at approximately $33,000. Bernard Wealth Management Corp. purchased a new position in Johnson & Johnson in the 4th quarter valued at approximately $36,000. Finally, Runnymede Capital Advisors Inc. purchased a new position in Johnson & Johnson in the 4th quarter valued at approximately $38,000. Institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Performance

Johnson & Johnson stock traded down $0.92 during midday trading on Friday, reaching $149.81. 22,591,152 shares of the company traded hands, compared to its average volume of 8,022,554. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $169.99. The firm has a market capitalization of $360.44 billion, a price-to-earnings ratio of 16.66, a price-to-earnings-growth ratio of 2.28 and a beta of 0.42. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.03. The business has a 50 day moving average of $154.11 and a two-hundred day moving average of $153.64.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its earnings results on Tuesday, April 15th. The company reported $2.77 EPS 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 during the quarter, compared to analysts' expectations of $21.65 billion. As a group, research analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th were issued a dividend of $1.30 per share. 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 yield of 3.47%. The ex-dividend date was Tuesday, May 27th. Johnson & Johnson's dividend payout ratio is currently 57.84%.

Analyst Ratings Changes

JNJ has been the subject of a number of research analyst reports. Leerink Partnrs downgraded shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Barclays reduced their price target on shares of Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Bank of America dropped their target price on shares of Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Raymond James Financial dropped their target price on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Finally, Sanford C. Bernstein reiterated a "market perform" rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Eleven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Johnson & Johnson currently has a consensus rating of "Moderate Buy" and a consensus price target of $170.88.

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.