New Mexico Educational Retirement Board reduced its stake in Johnson & Johnson (NYSE:JNJ) by 3.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 239,143 shares of the company’s stock after selling 8,200 shares during the period. Johnson & Johnson accounts for 1.3% of New Mexico Educational Retirement Board’s portfolio, making the stock its 7th largest position. New Mexico Educational Retirement Board’s holdings in Johnson & Johnson were worth $33,042,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in JNJ. Selective Wealth Management bought a new position in Johnson & Johnson in the third quarter worth about $105,000. Fusion Family Wealth LLC grew its holdings in Johnson & Johnson by 621.4% in the second quarter. Fusion Family Wealth LLC now owns 1,010 shares of the company’s stock worth $123,000 after purchasing an additional 870 shares during the period. Ifrah Financial Services Inc. purchased a new stake in Johnson & Johnson in the third quarter worth about $203,000. Exane Asset Management purchased a new stake in Johnson & Johnson in the second quarter worth about $206,000. Finally, Peak Capital Management LLC purchased a new stake in Johnson & Johnson in the second quarter worth about $207,000. 66.56% of the stock is owned by institutional investors.

NYSE:JNJ opened at $137.60 on Friday. Johnson & Johnson has a 52 week low of $118.62 and a 52 week high of $148.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.20 and a current ratio of 1.47. The company has a market cap of $369.17 billion, a PE ratio of 16.82, a PEG ratio of 2.13 and a beta of 0.68.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, January 22nd. The company reported $1.97 EPS for the quarter, beating the Zacks’ consensus estimate of $1.95 by $0.02. Johnson & Johnson had a net margin of 18.75% and a return on equity of 35.63%. The firm had revenue of $20.39 billion for the quarter, compared to analysts’ expectations of $20.27 billion. During the same quarter in the prior year, the company posted $1.74 earnings per share. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, equities analysts predict that Johnson & Johnson will post 8.57 earnings per share for the current fiscal year.

Johnson & Johnson announced that its board has approved a share buyback plan on Monday, December 17th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 1.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, February 26th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date was Monday, February 25th. Johnson & Johnson’s payout ratio is 44.01%.

A number of equities research analysts have weighed in on JNJ shares. Zacks Investment Research cut shares of Johnson & Johnson from a “hold” rating to a “sell” rating in a report on Wednesday, January 16th. Citigroup cut their price objective on shares of Johnson & Johnson from $148.00 to $139.00 and set a “neutral” rating on the stock in a report on Wednesday, January 2nd. ValuEngine upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a report on Thursday, December 13th. Wells Fargo & Co restated an “outperform” rating and issued a $152.00 price objective (down previously from $162.00) on shares of Johnson & Johnson in a report on Monday, January 14th. Finally, Barclays restated an “equal weight” rating and issued a $135.00 price objective (down previously from $137.00) on shares of Johnson & Johnson in a report on Wednesday, January 23rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. Johnson & Johnson presently has a consensus rating of “Hold” and a consensus target price of $142.81.

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Johnson & Johnson Company Profile

Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The 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, 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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