State Treasurer State of Michigan lowered its stake in shares of Johnson & Johnson (NYSE:JNJ) by 4.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 941,664 shares of the company’s stock after selling 40,300 shares during the quarter. Johnson & Johnson makes up about 0.9% of State Treasurer State of Michigan’s holdings, making the stock its 20th biggest position. State Treasurer State of Michigan’s holdings in Johnson & Johnson were worth $114,262,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Nissay Asset Management Corp Japan ADV increased its holdings in shares of Johnson & Johnson by 2.9% in the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 393,615 shares of the company’s stock valued at $47,761,000 after acquiring an additional 11,004 shares during the period. Flossbach Von Storch AG increased its holdings in shares of Johnson & Johnson by 53.3% in the 2nd quarter. Flossbach Von Storch AG now owns 3,553,636 shares of the company’s stock valued at $431,198,000 after acquiring an additional 1,235,186 shares during the period. CIBC World Markets Inc. increased its holdings in shares of Johnson & Johnson by 4.0% in the 2nd quarter. CIBC World Markets Inc. now owns 733,390 shares of the company’s stock valued at $88,990,000 after acquiring an additional 28,114 shares during the period. Doyle Wealth Management increased its holdings in shares of Johnson & Johnson by 4.3% in the 2nd quarter. Doyle Wealth Management now owns 119,011 shares of the company’s stock valued at $14,441,000 after acquiring an additional 4,925 shares during the period. Finally, Sfmg LLC increased its holdings in shares of Johnson & Johnson by 122.9% in the 2nd quarter. Sfmg LLC now owns 17,558 shares of the company’s stock valued at $2,131,000 after acquiring an additional 9,682 shares during the period. 66.51% of the stock is currently owned by institutional investors.

A number of equities analysts have recently commented on JNJ shares. Credit Suisse Group lifted their target price on shares of Johnson & Johnson from $149.00 to $152.00 and gave the company an “outperform” rating in a report on Wednesday, October 17th. Citigroup lifted their target price on shares of Johnson & Johnson from $137.00 to $148.00 and gave the company a “neutral” rating in a report on Monday, October 22nd. Raymond James lifted their target price on shares of Johnson & Johnson from $144.00 to $149.00 and gave the company an “outperform” rating in a report on Wednesday, October 17th. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $160.00 target price on shares of Johnson & Johnson in a report on Friday, September 14th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Johnson & Johnson in a report on Wednesday, October 17th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. Johnson & Johnson has an average rating of “Hold” and an average price target of $143.47.

In related news, EVP Michael E. Sneed sold 30,943 shares of Johnson & Johnson stock in a transaction on Friday, November 23rd. The shares were sold at an average price of $142.46, for a total value of $4,408,139.78. Following the transaction, the executive vice president now directly owns 70,817 shares in the company, valued at approximately $10,088,589.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Joaquin Duato sold 40,000 shares of the business’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $144.36, for a total transaction of $5,774,400.00. Following the sale, the insider now owns 112,848 shares in the company, valued at $16,290,737.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 351,748 shares of company stock worth $51,092,647. 0.22% of the stock is currently owned by insiders.

NYSE:JNJ opened at $146.03 on Wednesday. Johnson & Johnson has a 1-year low of $118.62 and a 1-year high of $148.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.40 and a current ratio of 1.72. The firm has a market capitalization of $394.12 billion, a P/E ratio of 20.00, a PEG ratio of 2.29 and a beta of 0.59.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, October 16th. The company reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.02. Johnson & Johnson had a net margin of 1.89% and a return on equity of 34.62%. The firm had revenue of $20.35 billion for the quarter, compared to analyst estimates of $20.05 billion. During the same period last year, the firm posted $1.90 EPS. Johnson & Johnson’s quarterly revenue was up 3.6% on a year-over-year basis. Analysts forecast that Johnson & Johnson will post 8.16 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 11th. Investors of record on Tuesday, November 27th will be given a $0.90 dividend. The ex-dividend date is Monday, November 26th. This represents a $3.60 dividend on an annualized basis and a yield of 2.47%. Johnson & Johnson’s dividend payout ratio (DPR) is 49.32%.

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Johnson & Johnson Profile

Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. Its 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, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, RoC, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.

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

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