State Board of Administration of Florida Retirement System Has $528.82 Million Stock Position in Johnson & Johnson (NYSE:JNJ)

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State Board of Administration of Florida Retirement System lessened its position in shares of Johnson & Johnson (NYSE:JNJ) by 0.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,551,964 shares of the company’s stock after selling 11,030 shares during the period. Johnson & Johnson comprises 1.2% of State Board of Administration of Florida Retirement System’s holdings, making the stock its 8th largest position. State Board of Administration of Florida Retirement System’s holdings in Johnson & Johnson were worth $528,816,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Winslow Evans & Crocker Inc. lifted its stake in Johnson & Johnson by 0.3% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 21,603 shares of the company’s stock valued at $3,037,000 after purchasing an additional 69 shares during the last quarter. Lathrop Investment Management Corp lifted its stake in Johnson & Johnson by 1.4% in the 2nd quarter. Lathrop Investment Management Corp now owns 4,901 shares of the company’s stock valued at $689,000 after purchasing an additional 69 shares during the last quarter. Reik & CO. LLC lifted its stake in Johnson & Johnson by 0.4% in the 2nd quarter. Reik & CO. LLC now owns 17,727 shares of the company’s stock valued at $2,493,000 after purchasing an additional 70 shares during the last quarter. Delta Investment Management LLC lifted its stake in Johnson & Johnson by 1.0% in the 2nd quarter. Delta Investment Management LLC now owns 7,406 shares of the company’s stock valued at $1,041,000 after purchasing an additional 71 shares during the last quarter. Finally, IFG Advisory LLC lifted its stake in Johnson & Johnson by 0.4% in the 2nd quarter. IFG Advisory LLC now owns 16,170 shares of the company’s stock valued at $2,274,000 after purchasing an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 67.44% of the company’s stock.

JNJ has been the subject of several recent analyst reports. Raymond James reiterated a “buy” rating on shares of Johnson & Johnson in a research note on Friday. Stifel Nicolaus downgraded shares of Johnson & Johnson from a “buy” rating to a “hold” rating in a research report on Wednesday, August 19th. Credit Suisse Group raised their price objective on shares of Johnson & Johnson from $163.00 to $168.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 14th. ValuEngine upgraded shares of Johnson & Johnson from a “sell” rating to a “hold” rating in a research report on Monday, August 3rd. Finally, Cantor Fitzgerald raised their price objective on shares of Johnson & Johnson from $168.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $164.93.

Shares of JNJ opened at $146.36 on Friday. Johnson & Johnson has a 12 month low of $109.16 and a 12 month high of $157.00. The firm’s 50 day moving average is $145.51 and its 200-day moving average is $146.57. The stock has a market capitalization of $385.30 billion, a PE ratio of 23.01, a P/E/G ratio of 3.04 and a beta of 0.69. The company has a current ratio of 1.48, a quick ratio of 1.24 and a debt-to-equity ratio of 0.51.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Sunday, October 18th. The company reported $2.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.22. Johnson & Johnson had a net margin of 21.01% and a return on equity of 34.64%. The company had revenue of $21.08 billion for the quarter, compared to analysts’ expectations of $20.15 billion. During the same period last year, the firm earned $2.12 earnings per share. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. Equities research analysts predict that Johnson & Johnson will post 7.99 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 8th. Investors of record on Tuesday, November 24th will be paid a $1.01 dividend. The ex-dividend date is Monday, November 23rd. This represents a $4.04 dividend on an annualized basis and a yield of 2.76%. Johnson & Johnson’s dividend payout ratio (DPR) is 46.54%.

In related news, EVP Kathryn E. Wengel sold 16,115 shares of Johnson & Johnson stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $153.52, for a total value of $2,473,974.80. Following the transaction, the executive vice president now directly owns 66,658 shares of the company’s stock, valued at $10,233,336.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.27% of the company’s stock.

Johnson & Johnson Company Profile

Johnson & Johnson researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DR.

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

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