Retirement Systems of Alabama Sells 13,935 Shares of Johnson & Johnson (NYSE:JNJ)

Retirement Systems of Alabama reduced its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 1.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 948,441 shares of the company's stock after selling 13,935 shares during the period. Johnson & Johnson makes up approximately 0.6% of Retirement Systems of Alabama's investment portfolio, making the stock its 24th biggest position. Retirement Systems of Alabama's holdings in Johnson & Johnson were worth $148,659,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Massachusetts Wealth Management increased its holdings in shares of Johnson & Johnson by 4.2% during the third quarter. Massachusetts Wealth Management now owns 16,105 shares of the company's stock worth $2,508,000 after buying an additional 650 shares in the last quarter. Warren Street Wealth Advisors LLC grew its stake in shares of Johnson & Johnson by 26.9% in the third quarter. Warren Street Wealth Advisors LLC now owns 1,833 shares of the company's stock worth $285,000 after purchasing an additional 388 shares during the last quarter. Blue Fin Capital Inc. grew its stake in shares of Johnson & Johnson by 0.6% in the third quarter. Blue Fin Capital Inc. now owns 20,686 shares of the company's stock worth $3,222,000 after purchasing an additional 132 shares during the last quarter. WestEnd Advisors LLC grew its stake in shares of Johnson & Johnson by 2.3% in the third quarter. WestEnd Advisors LLC now owns 214,315 shares of the company's stock worth $33,380,000 after purchasing an additional 4,895 shares during the last quarter. Finally, Financial & Tax Architects LLC grew its stake in shares of Johnson & Johnson by 6.6% in the third quarter. Financial & Tax Architects LLC now owns 33,956 shares of the company's stock worth $5,289,000 after purchasing an additional 2,110 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Trading Down 0.4 %

Shares of NYSE:JNJ traded down $0.66 during midday trading on Friday, hitting $149.27. 6,522,241 shares of the stock traded hands, compared to its average volume of 7,469,515. The stock has a market capitalization of $359.70 billion, a PE ratio of 9.31, a P/E/G ratio of 2.49 and a beta of 0.55. The business's 50 day moving average is $154.44 and its two-hundred day moving average is $155.08. The company has a quick ratio of 0.91, a current ratio of 1.17 and a debt-to-equity ratio of 0.36. Johnson & Johnson has a one year low of $143.13 and a one year high of $175.97.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping analysts' consensus estimates of $2.64 by $0.07. The business had revenue of $21.38 billion for the quarter, compared to analysts' expectations of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The business's revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.68 earnings per share. As a group, research analysts forecast that Johnson & Johnson will post 10.65 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be paid a $1.24 dividend. The ex-dividend date of this dividend is Monday, May 20th. This is a boost from Johnson & Johnson's previous quarterly dividend of $1.19. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.32%. Johnson & Johnson's dividend payout ratio is 30.92%.

Insider Transactions at Johnson & Johnson

In related news, major shareholder & Johnson Johnson sold 3,725 shares of the firm's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $25.81, for a total transaction of $96,142.25. Following the completion of the transaction, the insider now directly owns 4,099,575 shares of the company's stock, valued at $105,810,030.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder & Johnson Johnson sold 3,725 shares of the firm's stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the completion of the sale, the insider now owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jennifer L. Taubert sold 59,397 shares of the firm's stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the transaction, the executive vice president now directly owns 141,416 shares in the company, valued at approximately $22,099,078.32. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company's stock.

Analyst Upgrades and Downgrades

JNJ has been the topic of several analyst reports. Morgan Stanley reduced their price objective on shares of Johnson & Johnson from $168.00 to $167.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 17th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $215.00 price target on shares of Johnson & Johnson in a research report on Monday, April 15th. HSBC raised shares of Johnson & Johnson from a "hold" rating to a "buy" rating and upped their price target for the company from $169.00 to $170.00 in a research report on Thursday, April 18th. StockNews.com raised shares of Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, February 6th. Finally, Bank of America cut their price target on shares of Johnson & Johnson from $180.00 to $170.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 17th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Johnson & Johnson currently has an average rating of "Moderate Buy" and an average price target of $175.86.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.