New Mexico Educational Retirement Board Sells 2,900 Shares of Johnson & Johnson (NYSE:JNJ)

New Mexico Educational Retirement Board cut its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 114,785 shares of the company's stock after selling 2,900 shares during the quarter. Johnson & Johnson makes up 0.6% of New Mexico Educational Retirement Board's portfolio, making the stock its 22nd biggest holding. New Mexico Educational Retirement Board's holdings in Johnson & Johnson were worth $16,600,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. AMF Tjanstepension AB boosted its holdings in Johnson & Johnson by 14.2% in the third quarter. AMF Tjanstepension AB now owns 425,261 shares of the company's stock worth $68,985,000 after purchasing an additional 52,997 shares in the last quarter. Alpha Financial Partners LLC acquired a new stake in shares of Johnson & Johnson in the third quarter worth about $209,000. Wealth Group Ltd. bought a new stake in shares of Johnson & Johnson during the 3rd quarter worth about $213,000. Swedbank AB increased its holdings in shares of Johnson & Johnson by 5.3% during the 3rd quarter. Swedbank AB now owns 2,215,108 shares of the company's stock valued at $358,980,000 after acquiring an additional 111,570 shares during the last quarter. Finally, Schaper Benz & Wise Investment Counsel Inc. WI raised its stake in shares of Johnson & Johnson by 1.8% in the 3rd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 97,483 shares of the company's stock valued at $15,798,000 after acquiring an additional 1,768 shares in the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Johnson & Johnson Stock Performance

Shares of JNJ stock traded up $2.67 during mid-day trading on Friday, reaching $162.35. The stock had a trading volume of 12,540,171 shares, compared to its average volume of 9,073,381. The firm has a market cap of $390.87 billion, a PE ratio of 24.41, a P/E/G ratio of 2.53 and a beta of 0.52. 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 $168.85. The firm's 50 day simple moving average is $148.93 and its 200 day simple moving average is $155.90.

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

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be paid a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a yield of 3.06%. Johnson & Johnson's payout ratio is currently 74.59%.

Insider Buying and Selling

In related news, Director Mark A. Weinberger purchased 1,000 shares of the firm's stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average price of $147.22 per share, with a total value of $147,220.00. Following the purchase, the director now directly owns 1,000 shares in the company, valued at $147,220. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Timothy Schmid sold 403 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total value of $62,928.45. Following the transaction, the executive vice president now owns 15,098 shares of the company's stock, valued at $2,357,552.70. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.16% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on JNJ. Citigroup decreased their target price on Johnson & Johnson from $185.00 to $175.00 and set a "buy" rating for the company in a research report on Wednesday, December 11th. Wells Fargo & Company decreased their price objective on shares of Johnson & Johnson from $166.00 to $152.00 and set an "equal weight" rating for the company in a report on Thursday, January 23rd. Leerink Partners dropped their target price on shares of Johnson & Johnson from $182.00 to $169.00 and set an "outperform" rating on the stock in a report on Thursday, January 23rd. Stifel Nicolaus lowered their price target on Johnson & Johnson from $170.00 to $155.00 and set a "hold" rating on the stock in a research report on Thursday, January 23rd. Finally, Wolfe Research assumed coverage on Johnson & Johnson in a research note on Friday, November 15th. They issued an "outperform" rating and a $190.00 price objective on the stock. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $170.67.

About Johnson & Johnson

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.