Johnson & Johnson (NYSE:JNJ) Shares Acquired by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky increased its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 4.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 185,977 shares of the company's stock after buying an additional 7,462 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Johnson & Johnson were worth $30,843,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Johnson & Johnson in the fourth quarter worth about $4,390,037,000. GAMMA Investing LLC increased its holdings in Johnson & Johnson by 24,450.4% in the 1st quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company's stock worth $1,196,596,000 after buying an additional 7,185,977 shares during the period. Bank of New York Mellon Corp raised its position in Johnson & Johnson by 26.4% during the 1st quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock worth $3,844,580,000 after buying an additional 4,842,582 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Johnson & Johnson by 134.5% during the 4th quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company's stock valued at $1,149,536,000 after acquiring an additional 4,559,147 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Johnson & Johnson by 12.3% in the fourth quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock worth $4,456,201,000 after acquiring an additional 3,363,235 shares during the period. 69.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on JNJ shares. The Goldman Sachs Group raised shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and upped their price target for the company from $157.00 to $172.00 in a report on Wednesday, April 9th. Bank of America boosted their price target on Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Piper Sandler reissued an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Finally, Leerink Partners downgraded Johnson & Johnson from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $169.00 to $153.00 in a research report on Tuesday, May 13th. Eleven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $172.87.

Johnson & Johnson Trading Up 1.7%

JNJ stock traded up $2.82 during trading on Tuesday, reaching $167.18. 5,003,485 shares of the stock were exchanged, compared to its average volume of 8,130,434. The company has a current ratio of 1.26, a quick ratio of 1.03 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $402.26 billion, a price-to-earnings ratio of 17.87, a P/E/G ratio of 2.08 and a beta of 0.41. The business has a 50 day moving average price of $154.29 and a 200-day moving average price of $155.12. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $0.09. Johnson & Johnson had a return on equity of 33.07% and a net margin of 25.00%. The firm had revenue of $23.74 billion for the quarter, compared to analysts' expectations of $22.85 billion. During the same period in the prior year, the firm posted $2.82 earnings per share. The firm's quarterly revenue was up 5.8% on a year-over-year basis. On average, research analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio (DPR) is presently 55.61%.

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.