Kentucky Retirement Systems Insurance Trust Fund Sells 4,550 Shares of Johnson & Johnson $JNJ

Kentucky Retirement Systems Insurance Trust Fund decreased its position in shares of Johnson & Johnson (NYSE:JNJ) by 6.5% during the second quarter, Holdings Channel.com reports. The fund owned 65,628 shares of the company’s stock after selling 4,550 shares during the quarter. Johnson & Johnson accounts for 0.7% of Kentucky Retirement Systems Insurance Trust Fund’s investment portfolio, making the stock its 20th largest holding. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Johnson & Johnson were worth $10,025,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of JNJ. Semmax Financial Advisors Inc. lifted its stake in shares of Johnson & Johnson by 55.0% during the 2nd quarter. Semmax Financial Advisors Inc. now owns 203 shares of the company’s stock valued at $31,000 after buying an additional 72 shares in the last quarter. GFG Capital LLC bought a new stake in Johnson & Johnson during the second quarter valued at about $35,000. 1248 Management LLC purchased a new position in shares of Johnson & Johnson in the first quarter valued at about $48,000. Vermillion & White Wealth Management Group LLC boosted its stake in shares of Johnson & Johnson by 66.4% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 376 shares of the company’s stock worth $57,000 after acquiring an additional 150 shares during the period. Finally, Gladwyn Financial Advisors Inc. bought a new stake in Johnson & Johnson during the 2nd quarter valued at approximately $71,000. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Price Performance

JNJ stock opened at $211.65 on Friday. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $212.27. The firm has a market capitalization of $509.93 billion, a P/E ratio of 20.43, a price-to-earnings-growth ratio of 2.36 and a beta of 0.36. The company has a fifty day simple moving average of $196.09 and a two-hundred day simple moving average of $177.25. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.50.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share (EPS) for the quarter. The firm had revenue of $24.02 billion for the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 32.73%. Analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 25th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, November 25th. This represents a $5.20 annualized dividend and a dividend yield of 2.5%. Johnson & Johnson’s payout ratio is currently 50.19%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on JNJ. Daiwa Capital Markets raised shares of Johnson & Johnson from a “neutral” rating to an “outperform” rating and set a $203.00 price objective for the company in a report on Monday, October 20th. Guggenheim upped their target price on shares of Johnson & Johnson from $206.00 to $227.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Johnson & Johnson in a research note on Friday, October 31st. Raymond James Financial boosted their price target on shares of Johnson & Johnson from $174.00 to $209.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 15th. Finally, HSBC restated a “buy” rating and set a $240.00 price objective on shares of Johnson & Johnson in a research report on Wednesday. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $207.55.

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.