State of Tennessee Department of Treasury Cuts Stock Position in Johnson & Johnson (NYSE:JNJ)

State of Tennessee Department of Treasury reduced its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 3.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 871,637 shares of the company's stock after selling 29,324 shares during the quarter. State of Tennessee Department of Treasury's holdings in Johnson & Johnson were worth $126,056,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. IFS Advisors LLC boosted its position in shares of Johnson & Johnson by 138.9% in the fourth quarter. IFS Advisors LLC now owns 172 shares of the company's stock worth $25,000 after buying an additional 100 shares during the period. WealthTrak Capital Management LLC bought a new position in Johnson & Johnson during the 4th quarter valued at about $26,000. Mountain Hill Investment Partners Corp. acquired a new position in Johnson & Johnson in the fourth quarter worth $29,000. Bay Harbor Wealth Management LLC bought a new stake in shares of Johnson & Johnson during the fourth quarter worth $32,000. Finally, Conquis Financial LLC acquired a new stake in Johnson & Johnson during the 4th quarter worth $33,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Down 1.5 %

NYSE:JNJ traded down $2.40 during trading hours on Wednesday, hitting $155.35. 9,097,317 shares of the stock traded hands, compared to its average volume of 7,923,271. The firm has a 50 day moving average price of $159.54 and a 200 day moving average price of $154.95. 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 fifty-two week low of $140.68 and a fifty-two week high of $169.99. The firm has a market cap of $374.36 billion, a price-to-earnings ratio of 23.36, a PEG ratio of 2.56 and a beta of 0.49.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its earnings results on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.59 by $0.18. The company had revenue of $21.89 billion for the quarter, compared to the consensus estimate of $21.65 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. Equities research analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th will be paid a $1.30 dividend. The ex-dividend date is Tuesday, May 27th. This is an increase from Johnson & Johnson's previous quarterly dividend of $1.24. This represents a $5.20 annualized dividend and a yield of 3.35%. Johnson & Johnson's payout ratio is 57.84%.

Insiders Place Their Bets

In related news, VP Robert J. Decker sold 6,999 shares of Johnson & Johnson stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $165.88, for a total value of $1,160,994.12. Following the completion of the sale, the vice president now 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Timothy Schmid sold 403 shares of the firm's stock in a transaction dated 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. The trade was a 2.60 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on JNJ shares. Guggenheim reiterated a "neutral" rating on shares of Johnson & Johnson in a report on Wednesday, April 2nd. Morgan Stanley raised their target price on shares of Johnson & Johnson from $164.00 to $169.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 16th. Royal Bank of Canada reissued an "outperform" rating and issued a $181.00 price target on shares of Johnson & Johnson in a research note on Wednesday, April 16th. The Goldman Sachs Group upgraded shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $157.00 to $172.00 in a research note on Wednesday, April 9th. Finally, Argus raised shares of Johnson & Johnson to a "strong-buy" rating in a research report on Friday, January 24th. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Johnson & Johnson presently has a consensus rating of "Moderate Buy" and a consensus target price of $171.82.

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.