Retirement Systems of Alabama Acquires 48,250 Shares of Johnson & Johnson (NYSE:JNJ)

Retirement Systems of Alabama boosted its holdings in Johnson & Johnson (NYSE:JNJ) by 4.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,243,090 shares of the company’s stock after buying an additional 48,250 shares during the quarter. Johnson & Johnson makes up approximately 0.8% of Retirement Systems of Alabama’s investment portfolio, making the stock its 16th largest position. Retirement Systems of Alabama owned 0.05% of Johnson & Johnson worth $201,455,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Oddo BHF Asset Management Sas acquired a new stake in Johnson & Johnson during the 3rd quarter valued at approximately $406,000. Inspire Trust Co. N.A. increased its position in Johnson & Johnson by 12.2% during the 3rd quarter. Inspire Trust Co. N.A. now owns 24,063 shares of the company’s stock valued at $3,900,000 after purchasing an additional 2,610 shares during the period. Old North State Trust LLC increased its position in Johnson & Johnson by 1.6% during the 3rd quarter. Old North State Trust LLC now owns 7,553 shares of the company’s stock valued at $1,224,000 after purchasing an additional 120 shares during the period. Franklin Resources Inc. increased its position in Johnson & Johnson by 11.4% during the 3rd quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock valued at $2,721,355,000 after purchasing an additional 1,729,281 shares during the period. Finally, Tidal Investments LLC increased its position in Johnson & Johnson by 11.1% during the 3rd quarter. Tidal Investments LLC now owns 186,860 shares of the company’s stock valued at $30,283,000 after purchasing an additional 18,605 shares during the period. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $145.96 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. The stock’s fifty day simple moving average is $157.01 and its two-hundred day simple moving average is $156.28. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85. The stock has a market cap of $351.42 billion, a PE ratio of 21.16, a price-to-earnings-growth ratio of 2.52 and a beta of 0.51.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. The company had revenue of $22.47 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.66 EPS. As a group, analysts forecast that Johnson & Johnson will post 9.94 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th were issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend was Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 71.78%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Citigroup reduced their price objective on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a research report on Wednesday. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Guggenheim raised their price objective on shares of Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Morgan Stanley raised their price objective on shares of Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company lifted their price target on shares of Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average price target of $174.73.

Insider Buying and Selling

In related news, Director Mark A. Weinberger purchased 1,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were purchased at an average cost of $147.22 per share, for a total transaction of $147,220.00. Following the completion of the transaction, the director now directly owns 1,000 shares in the company, valued at approximately $147,220. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.16% of the stock is currently owned by insiders.

About Johnson & Johnson

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.