Public Employees Retirement Association of Colorado Trims Stake in Johnson & Johnson (NYSE:JNJ)

Public Employees Retirement Association of Colorado reduced its position in shares of Johnson & Johnson (NYSE:JNJ) by 1.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,382,654 shares of the company’s stock after selling 18,092 shares during the quarter. Johnson & Johnson comprises about 1.0% of Public Employees Retirement Association of Colorado’s portfolio, making the stock its 18th biggest position. Public Employees Retirement Association of Colorado owned 0.05% of Johnson & Johnson worth $227,778,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. BFT Financial Group LLC raised its position in Johnson & Johnson by 1.2% in the second quarter. BFT Financial Group LLC now owns 5,170 shares of the company’s stock valued at $852,000 after purchasing an additional 59 shares during the period. Davis Rea LTD. raised its position in Johnson & Johnson by 2.3% in the second quarter. Davis Rea LTD. now owns 2,666 shares of the company’s stock valued at $439,000 after purchasing an additional 60 shares during the period. White Lighthouse Investment Management Inc. raised its position in Johnson & Johnson by 0.7% in the second quarter. White Lighthouse Investment Management Inc. now owns 8,691 shares of the company’s stock valued at $1,432,000 after purchasing an additional 60 shares during the period. Dumont & Blake Investment Advisors LLC raised its position in Johnson & Johnson by 0.3% in the second quarter. Dumont & Blake Investment Advisors LLC now owns 19,337 shares of the company’s stock valued at $3,186,000 after purchasing an additional 61 shares during the period. Finally, Alta Wealth Advisors LLC raised its position in Johnson & Johnson by 2.1% in the second quarter. Alta Wealth Advisors LLC now owns 3,049 shares of the company’s stock valued at $502,000 after purchasing an additional 62 shares during the period. Institutional investors own 67.29% of the company’s stock.

A number of analysts have recently weighed in on the company. Morgan Stanley lowered Johnson & Johnson from an “overweight” rating to an “equal weight” rating and set a $187.00 price objective on the stock. in a research report on Tuesday, September 7th. SVB Leerink reaffirmed a “buy” rating on shares of Johnson & Johnson in a research report on Thursday, July 29th. Finally, Wells Fargo & Company reaffirmed a “buy” rating on shares of Johnson & Johnson in a research report on Thursday, October 7th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $190.38.

NYSE:JNJ traded up $1.53 during trading hours on Thursday, hitting $160.73. The company’s stock had a trading volume of 174,757 shares, compared to its average volume of 7,040,690. The stock has a market capitalization of $423.12 billion, a P/E ratio of 23.94, a price-to-earnings-growth ratio of 2.23 and a beta of 0.71. The stock has a fifty day moving average of $168.96 and a 200-day moving average of $167.54. The company has a current ratio of 1.39, a quick ratio of 1.13 and a debt-to-equity ratio of 0.44. Johnson & Johnson has a 52-week low of $133.65 and a 52-week high of $179.92.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, July 20th. The company reported $2.48 EPS for the quarter, beating the consensus estimate of $2.29 by $0.19. The firm had revenue of $23.31 billion for the quarter, compared to analyst estimates of $22.54 billion. Johnson & Johnson had a return on equity of 37.06% and a net margin of 19.92%. Johnson & Johnson’s revenue for the quarter was up 27.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.67 earnings per share. On average, sell-side analysts forecast that Johnson & Johnson will post 9.65 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 7th. Investors of record on Tuesday, August 24th were issued a $1.06 dividend. This represents a $4.24 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend was Monday, August 23rd. Johnson & Johnson’s dividend payout ratio (DPR) is presently 52.80%.

Johnson & Johnson Profile

Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer Health, Pharmaceutical, and Medical Devices. The Consumer Health segment includes products used in the baby care, oral care, beauty, over-the-counter pharmaceutical, women’s health, and wound care markets.

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

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