Kentucky Retirement Systems Insurance Trust Fund Reduces Stake in Johnson & Johnson (NYSE:JNJ)

Kentucky Retirement Systems Insurance Trust Fund lessened its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 8.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,272 shares of the company’s stock after selling 6,353 shares during the quarter. Johnson & Johnson makes up 0.8% of Kentucky Retirement Systems Insurance Trust Fund’s portfolio, making the stock its 20th biggest position. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Johnson & Johnson were worth $11,550,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Meridian Investment Counsel Inc. increased its position in Johnson & Johnson by 19.6% during the 3rd quarter. Meridian Investment Counsel Inc. now owns 22,629 shares of the company’s stock valued at $3,667,000 after purchasing an additional 3,710 shares during the period. Coastline Trust Co increased its position in shares of Johnson & Johnson by 5.4% during the third quarter. Coastline Trust Co now owns 13,476 shares of the company’s stock valued at $2,184,000 after buying an additional 687 shares during the period. Vawter Financial Ltd. raised its stake in Johnson & Johnson by 14.1% in the third quarter. Vawter Financial Ltd. now owns 3,439 shares of the company’s stock worth $557,000 after buying an additional 426 shares in the last quarter. Simplify Asset Management Inc. lifted its holdings in Johnson & Johnson by 187.4% in the third quarter. Simplify Asset Management Inc. now owns 67,601 shares of the company’s stock worth $10,955,000 after buying an additional 44,081 shares during the period. Finally, Altrius Capital Management Inc boosted its position in Johnson & Johnson by 1.5% during the 3rd quarter. Altrius Capital Management Inc now owns 28,634 shares of the company’s stock valued at $4,640,000 after acquiring an additional 412 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Trading Up 1.4 %

NYSE:JNJ opened at $153.99 on Friday. The stock has a fifty day moving average price of $161.35 and a 200 day moving average price of $156.02. The firm has a market cap of $370.75 billion, a PE ratio of 22.29, a price-to-earnings-growth ratio of 2.72 and a beta of 0.53. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. The firm had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the company posted $2.66 earnings per share. Sell-side analysts anticipate that Johnson & Johnson will post 9.93 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be given a dividend of $1.24 per share. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a yield of 3.22%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 71.78%.

Insider Buying and Selling

In related news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the sale, the vice president now owns 18,973 shares of the company’s stock, valued at $3,131,683.38. This represents a 22.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on JNJ shares. The Goldman Sachs Group lowered their target price on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Citigroup lifted their price target on Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Morgan Stanley lifted their price objective on Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Daiwa America lowered shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Daiwa Capital Markets cut shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and an average target price of $175.94.

Johnson & Johnson Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.