New York State Teachers Retirement System Cuts Stake in Johnson & Johnson (NYSE:JNJ)

New York State Teachers Retirement System reduced its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 4.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,155,376 shares of the company's stock after selling 94,747 shares during the quarter. Johnson & Johnson makes up about 0.7% of New York State Teachers Retirement System's holdings, making the stock its 22nd largest position. New York State Teachers Retirement System owned about 0.09% of Johnson & Johnson worth $311,710,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. IFS Advisors LLC raised its stake in Johnson & Johnson by 138.9% in the 4th quarter. IFS Advisors LLC now owns 172 shares of the company's stock valued at $25,000 after acquiring an additional 100 shares during the period. Highline Wealth Partners LLC purchased a new stake in Johnson & Johnson in the 3rd quarter worth approximately $31,000. Bay Harbor Wealth Management LLC purchased a new stake in shares of Johnson & Johnson in the fourth quarter worth $32,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Johnson & Johnson during the 3rd quarter valued at about $35,000. Finally, Mowery & Schoenfeld Wealth Management LLC raised its stake in Johnson & Johnson by 58.7% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company's stock valued at $40,000 after purchasing an additional 91 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on JNJ. StockNews.com raised shares of Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a report on Saturday, January 25th. Barclays increased their target price on Johnson & Johnson from $159.00 to $166.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 28th. Morgan Stanley dropped their price target on Johnson & Johnson from $175.00 to $163.00 and set an "equal weight" rating for the company in a research note on Thursday, January 23rd. Raymond James cut their price objective on Johnson & Johnson from $170.00 to $165.00 and set an "outperform" rating for the company in a report on Thursday, January 23rd. Finally, Wells Fargo & Company decreased their price objective on Johnson & Johnson from $166.00 to $152.00 and set an "equal weight" rating on the stock in a report on Thursday, January 23rd. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $170.67.

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Johnson & Johnson Trading Up 1.7 %

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 capitalization of $390.87 billion, a PE ratio of 24.41, a price-to-earnings-growth ratio of 2.53 and a beta of 0.52. The stock's 50-day moving average price is $148.93 and its two-hundred day moving average price is $155.90. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $168.85.

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

Johnson & Johnson Announces Dividend

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

Insider Buying and Selling at Johnson & Johnson

In other news, Director Mark A. Weinberger bought 1,000 shares of Johnson & Johnson stock in a transaction on Thursday, December 12th. The shares were purchased at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the acquisition, the director now owns 1,000 shares of the company's stock, valued at approximately $147,220. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Timothy Schmid sold 403 shares of Johnson & Johnson stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $156.15, for a total value of $62,928.45. Following the sale, the executive vice president now owns 15,098 shares in the company, 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. 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.