Teacher Retirement System of Texas Lowers Position in Johnson & Johnson (NYSE:JNJ)

Teacher Retirement System of Texas lessened its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 7.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 936,135 shares of the company's stock after selling 72,321 shares during the period. Johnson & Johnson accounts for approximately 0.6% of Teacher Retirement System of Texas' portfolio, making the stock its 19th largest holding. Teacher Retirement System of Texas' holdings in Johnson & Johnson were worth $155,249,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Johnson & Johnson by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 232,792,559 shares of the company's stock worth $33,666,460,000 after buying an additional 1,772,706 shares in the last quarter. Geode Capital Management LLC raised its position in Johnson & Johnson by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 57,667,920 shares of the company's stock valued at $8,321,881,000 after purchasing an additional 1,561,036 shares in the last quarter. Northern Trust Corp raised its position in Johnson & Johnson by 12.3% during the fourth quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock valued at $4,456,201,000 after purchasing an additional 3,363,235 shares in the last quarter. Norges Bank purchased a new stake in Johnson & Johnson during the fourth quarter valued at about $4,390,037,000. Finally, Wellington Management Group LLP raised its position in Johnson & Johnson by 1.8% during the fourth quarter. Wellington Management Group LLP now owns 24,356,572 shares of the company's stock valued at $3,522,447,000 after purchasing an additional 431,205 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Up 0.2%

NYSE JNJ opened at $155.90 on Friday. 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 stock has a market capitalization of $375.11 billion, a PE ratio of 17.34, a PEG ratio of 2.36 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 business's 50-day moving average is $153.68 and its 200 day moving average is $154.03.

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

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.34%. This is a boost from Johnson & Johnson's previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Tuesday, May 27th. Johnson & Johnson's payout ratio is presently 57.84%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on JNJ shares. Morgan Stanley raised their price target on Johnson & Johnson from $164.00 to $169.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 16th. Wall Street Zen upgraded Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 21st. Leerink Partners downgraded Johnson & Johnson from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $169.00 to $153.00 in a research report on Tuesday, May 13th. Barclays lowered their price target on 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. Finally, Raymond James Financial lowered their price target on Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Eleven investment analysts have rated the stock with a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Johnson & Johnson currently has an average rating of "Moderate Buy" and an average price target of $170.88.

Johnson & Johnson 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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