Oregon Public Employees Retirement Fund cut its position in shares of Johnson & Johnson (NYSE:JNJ) by 32.2% during the second quarter, Holdings Channel reports. The institutional investor owned 577,722 shares of the company’s stock after selling 274,500 shares during the period. Johnson & Johnson accounts for approximately 1.3% of Oregon Public Employees Retirement Fund’s portfolio, making the stock its 5th largest position. Oregon Public Employees Retirement Fund’s holdings in Johnson & Johnson were worth $76,427,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of JNJ. Abbrea Capital LLC acquired a new position in shares of Johnson & Johnson during the fourth quarter worth approximately $3,621,000. Prudential PLC increased its position in shares of Johnson & Johnson by 8.9% in the fourth quarter. Prudential PLC now owns 4,397,325 shares of the company’s stock worth $506,616,000 after buying an additional 359,395 shares in the last quarter. Stockman Wealth Management Inc. increased its position in shares of Johnson & Johnson by 4.7% in the fourth quarter. Stockman Wealth Management Inc. now owns 42,107 shares of the company’s stock worth $4,851,000 after buying an additional 1,883 shares in the last quarter. Honkamp Krueger Financial Services Inc. ADV acquired a new position in shares of Johnson & Johnson during the fourth quarter worth approximately $5,105,000. Finally, Concentric Wealth Management LLC acquired a new position in shares of Johnson & Johnson during the fourth quarter worth approximately $2,979,000. 66.02% of the stock is owned by hedge funds and other institutional investors.

Shares of Johnson & Johnson (NYSE:JNJ) opened at 132.60 on Monday. The stock’s 50 day moving average price is $130.42 and its 200 day moving average price is $122.68. Johnson & Johnson has a 1-year low of $109.32 and a 1-year high of $137.00. The company has a market capitalization of $357.20 billion, a price-to-earnings ratio of 22.29 and a beta of 0.78.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, April 18th. The company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.06. Johnson & Johnson had a net margin of 22.87% and a return on equity of 26.50%. The company had revenue of $17.77 billion during the quarter, compared to analyst estimates of $18.02 billion. During the same quarter in the previous year, the business earned $1.68 EPS. The firm’s revenue was up 1.6% on a year-over-year basis. Analysts expect that Johnson & Johnson will post $7.10 EPS for the current year.

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Several brokerages have issued reports on JNJ. Barclays PLC restated an “equal weight” rating and set a $130.00 price objective (up previously from $125.00) on shares of Johnson & Johnson in a research note on Monday, April 17th. BTIG Research reiterated a “hold” rating on shares of Johnson & Johnson in a research report on Wednesday, April 19th. Vetr upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and set a $128.54 price target on the stock in a research report on Monday, April 24th. Jefferies Group LLC reiterated a “hold” rating and set a $135.00 price target (down from $140.00) on shares of Johnson & Johnson in a research report on Sunday, May 14th. Finally, J P Morgan Chase & Co upgraded Johnson & Johnson from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $123.64 to $140.00 in a research report on Monday, May 15th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $133.65.

About Johnson & Johnson

Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of a range of products in the healthcare field. It operates through three segments: Consumer, Pharmaceutical and Medical Devices. Its primary focus is products related to human health and well-being.

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

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