Johnson & Johnson (NYSE:JNJ) Shares Sold by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System reduced its position in Johnson & Johnson (NYSE:JNJGet Rating) by 5.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,940,182 shares of the company’s stock after selling 153,655 shares during the quarter. Johnson & Johnson makes up approximately 1.3% of State Board of Administration of Florida Retirement System’s portfolio, making the stock its 9th biggest position. State Board of Administration of Florida Retirement System owned 0.11% of Johnson & Johnson worth $521,912,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Johnson & Johnson by 1.4% during the first quarter. Vanguard Group Inc. now owns 238,141,110 shares of the company’s stock worth $42,205,749,000 after buying an additional 3,358,478 shares in the last quarter. BlackRock Inc. grew its position in shares of Johnson & Johnson by 0.4% during the first quarter. BlackRock Inc. now owns 200,799,189 shares of the company’s stock worth $35,587,638,000 after buying an additional 777,837 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Johnson & Johnson by 0.8% during the first quarter. Wellington Management Group LLP now owns 32,772,594 shares of the company’s stock worth $5,808,286,000 after buying an additional 265,330 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Johnson & Johnson by 1.6% during the first quarter. Bank of New York Mellon Corp now owns 32,070,396 shares of the company’s stock worth $5,683,837,000 after buying an additional 509,818 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Johnson & Johnson by 1.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 17,189,229 shares of the company’s stock worth $3,046,449,000 after buying an additional 328,297 shares in the last quarter. 68.59% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Johnson & Johnson

In other news, insider William Hait sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, October 24th. The stock was sold at an average price of $171.55, for a total transaction of $2,573,250.00. Following the completion of the sale, the insider now owns 80,236 shares in the company, valued at $13,764,485.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Peter Fasolo sold 22,864 shares of the company’s stock in a transaction on Wednesday, October 19th. The stock was sold at an average price of $164.50, for a total transaction of $3,761,128.00. Following the transaction, the vice president now owns 114,676 shares of the company’s stock, valued at $18,864,202. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William Hait sold 15,000 shares of the company’s stock in a transaction on Monday, October 24th. The stock was sold at an average price of $171.55, for a total value of $2,573,250.00. Following the transaction, the insider now directly owns 80,236 shares in the company, valued at approximately $13,764,485.80. The disclosure for this sale can be found here. Insiders sold 118,795 shares of company stock worth $20,230,174 over the last 90 days. 0.35% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on JNJ. Sanford C. Bernstein lowered their price objective on Johnson & Johnson from $194.00 to $190.00 in a research report on Wednesday, October 19th. StockNews.com assumed coverage on Johnson & Johnson in a research note on Wednesday, October 12th. They set a “strong-buy” rating for the company. SVB Leerink decreased their target price on Johnson & Johnson from $200.00 to $194.00 in a research note on Wednesday, July 20th. Citigroup decreased their target price on Johnson & Johnson from $201.00 to $198.00 in a research note on Wednesday, October 5th. Finally, Morgan Stanley decreased their target price on Johnson & Johnson from $174.00 to $170.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 19th. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Johnson & Johnson presently has an average rating of “Moderate Buy” and an average target price of $184.25.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $169.25 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.37. Johnson & Johnson has a twelve month low of $155.72 and a twelve month high of $186.69. The stock has a 50 day moving average of $166.88 and a two-hundred day moving average of $171.59. The stock has a market cap of $442.50 billion, a P/E ratio of 23.57, a P/E/G ratio of 3.42 and a beta of 0.57.

Johnson & Johnson (NYSE:JNJGet Rating) last released its quarterly earnings results on Tuesday, October 18th. The company reported $2.55 EPS for the quarter, topping the consensus estimate of $2.49 by $0.06. Johnson & Johnson had a return on equity of 35.37% and a net margin of 19.95%. The business had revenue of $23.79 billion during the quarter, compared to analysts’ expectations of $23.44 billion. During the same quarter in the prior year, the business earned $2.60 earnings per share. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, research analysts forecast that Johnson & Johnson will post 10.04 earnings per share for the current year.

Johnson & Johnson declared that its Board of Directors has authorized a share buyback program on Wednesday, September 14th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 1.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Stockholders of record on Tuesday, November 22nd will be paid a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Monday, November 21st. Johnson & Johnson’s dividend payout ratio (DPR) is presently 62.95%.

Johnson & Johnson Company Profile

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Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment offers baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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