Employees Retirement System of Texas Has $2.99 Million Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Employees Retirement System of Texas trimmed its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 30.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,638 shares of the company's stock after selling 9,143 shares during the period. Employees Retirement System of Texas' holdings in Johnson & Johnson were worth $2,985,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Oregon Pacific Wealth Management LLC purchased a new position in Johnson & Johnson in the fourth quarter valued at about $949,000. Horan Securities Inc. grew its stake in shares of Johnson & Johnson by 1.3% in the 4th quarter. Horan Securities Inc. now owns 7,178 shares of the company's stock valued at $1,038,000 after buying an additional 90 shares in the last quarter. Strategic Financial Concepts LLC increased its holdings in Johnson & Johnson by 57.9% in the fourth quarter. Strategic Financial Concepts LLC now owns 3,467 shares of the company's stock worth $501,000 after buying an additional 1,271 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in Johnson & Johnson during the third quarter valued at approximately $69,859,000. Finally, KPP Advisory Services LLC lifted its stake in Johnson & Johnson by 4.7% in the fourth quarter. KPP Advisory Services LLC now owns 11,492 shares of the company's stock valued at $1,662,000 after acquiring an additional 515 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

JNJ has been the topic of a number of recent research reports. Barclays raised their price target on shares of Johnson & Johnson from $159.00 to $166.00 and gave the company an "equal weight" rating in a report on Tuesday, January 28th. The Goldman Sachs Group upgraded Johnson & Johnson from a "neutral" rating to a "buy" rating and upped their price target for the stock from $157.00 to $172.00 in a research note on Wednesday. Guggenheim reissued a "neutral" rating on shares of Johnson & Johnson in a research note on Wednesday, April 2nd. Wells Fargo & Company decreased their target price on Johnson & Johnson from $166.00 to $152.00 and set an "equal weight" rating for the company in a research report on Thursday, January 23rd. Finally, Raymond James dropped their price target on shares of Johnson & Johnson from $170.00 to $165.00 and set an "outperform" rating on the stock in a research report on Thursday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $171.67.

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Johnson & Johnson Stock Performance

Shares of JNJ stock traded up $2.61 during mid-day trading on Friday, reaching $151.30. The stock had a trading volume of 3,486,550 shares, compared to its average volume of 7,926,930. The firm has a market cap of $364.60 billion, a PE ratio of 22.71, a P/E/G ratio of 2.56 and a beta of 0.49. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. Johnson & Johnson has a one year low of $140.68 and a one year high of $169.99. The firm's 50 day simple moving average is $159.43 and its 200 day simple moving average is $155.27.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.99 by $0.05. The firm had revenue of $22.52 billion for the quarter, compared to the consensus estimate of $22.44 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The business's revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.29 earnings per share. On average, analysts forecast that Johnson & Johnson will post 10.58 EPS for the current year.

Insider Buying and Selling

In other Johnson & Johnson news, VP Robert J. Decker sold 6,999 shares of Johnson & Johnson stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the completion of the transaction, the vice president now directly owns 21,001 shares of the company's stock, valued at approximately $3,483,645.88. This trade represents a 25.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Timothy Schmid sold 403 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total transaction of $62,928.45. Following the completion of the sale, the executive vice president now directly owns 15,098 shares in the company, valued at approximately $2,357,552.70. The trade was a 2.60 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.16% of the company's stock.

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.