State of Michigan Retirement System Purchases 1,237 Shares of Johnson & Johnson (NYSE:JNJ)

State of Michigan Retirement System grew its position in Johnson & Johnson (NYSE:JNJGet Rating) by 0.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 732,724 shares of the company’s stock after buying an additional 1,237 shares during the period. Johnson & Johnson accounts for about 0.8% of State of Michigan Retirement System’s portfolio, making the stock its 18th largest position. State of Michigan Retirement System’s holdings in Johnson & Johnson were worth $129,861,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Baker Ellis Asset Management LLC boosted its stake in Johnson & Johnson by 3.9% in the 1st quarter. Baker Ellis Asset Management LLC now owns 37,957 shares of the company’s stock worth $6,727,000 after purchasing an additional 1,411 shares in the last quarter. Financial Advisory Service Inc. boosted its stake in Johnson & Johnson by 10.5% in the 1st quarter. Financial Advisory Service Inc. now owns 23,094 shares of the company’s stock worth $4,093,000 after purchasing an additional 2,191 shares in the last quarter. Legacy Financial Advisors Inc. boosted its stake in Johnson & Johnson by 4.2% in the 1st quarter. Legacy Financial Advisors Inc. now owns 13,573 shares of the company’s stock worth $2,406,000 after purchasing an additional 544 shares in the last quarter. Evolution Advisers Inc. raised its position in Johnson & Johnson by 212.8% during the 1st quarter. Evolution Advisers Inc. now owns 294 shares of the company’s stock worth $52,000 after buying an additional 200 shares during the last quarter. Finally, AlphaCore Capital LLC raised its position in Johnson & Johnson by 287.6% during the 1st quarter. AlphaCore Capital LLC now owns 5,411 shares of the company’s stock worth $959,000 after buying an additional 4,015 shares during the last quarter. 68.78% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $171.11 on Friday. The firm has a market cap of $449.88 billion, a PE ratio of 24.91, a PEG ratio of 3.32 and a beta of 0.59. The firm has a fifty day moving average of $175.21 and a 200 day moving average of $174.55. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.42. Johnson & Johnson has a one year low of $155.72 and a one year high of $186.69.

Johnson & Johnson (NYSE:JNJGet Rating) last announced its earnings results on Tuesday, July 19th. The company reported $2.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.02. Johnson & Johnson had a net margin of 19.21% and a return on equity of 36.14%. The company had revenue of $24.02 billion for the quarter, compared to analysts’ expectations of $23.85 billion. During the same quarter in the previous year, the company posted $2.48 EPS. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, research analysts predict that Johnson & Johnson will post 10.05 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 6th. Shareholders of record on Tuesday, August 23rd will be paid a dividend of $1.13 per share. The ex-dividend date of this dividend is Monday, August 22nd. This represents a $4.52 annualized dividend and a yield of 2.64%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 65.79%.

Insiders Place Their Bets

In other Johnson & Johnson news, CAO Robert J. Decker sold 8,462 shares of Johnson & Johnson stock in a transaction on Thursday, May 26th. The shares were sold at an average price of $180.00, for a total transaction of $1,523,160.00. Following the sale, the chief accounting officer now owns 15,473 shares of the company’s stock, valued at approximately $2,785,140. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CAO Robert J. Decker sold 8,462 shares of the company’s stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $180.00, for a total value of $1,523,160.00. Following the completion of the sale, the chief accounting officer now owns 15,473 shares of the company’s stock, valued at $2,785,140. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kathryn E. Wengel sold 40,000 shares of the company’s stock in a transaction dated Friday, June 10th. The shares were sold at an average price of $173.00, for a total transaction of $6,920,000.00. Following the completion of the sale, the executive vice president now directly owns 71,311 shares of the company’s stock, valued at approximately $12,336,803. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on JNJ shares. Raymond James raised their price target on shares of Johnson & Johnson from $195.00 to $196.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 20th. UBS Group reduced their price target on shares of Johnson & Johnson from $185.00 to $180.00 in a research report on Thursday, July 21st. Morgan Stanley raised their price target on shares of Johnson & Johnson from $173.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Friday, July 8th. SVB Leerink reduced their price target on shares of Johnson & Johnson from $200.00 to $194.00 in a research report on Wednesday, July 20th. Finally, Credit Suisse Group raised their price target on shares of Johnson & Johnson from $200.00 to $205.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 20th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average price target of $189.89.

Johnson & Johnson Company Profile

(Get Rating)

Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment offers baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.

See Also

Want to see what other hedge funds are holding JNJ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Johnson & Johnson (NYSE:JNJGet Rating).

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

Receive News & Ratings for Johnson & Johnson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Johnson & Johnson and related companies with MarketBeat.com's FREE daily email newsletter.