Public Sector Pension Investment Board Has $53.09 Million Stake in Johnson & Johnson $JNJ

Public Sector Pension Investment Board lowered its holdings in Johnson & Johnson (NYSE:JNJ) by 49.4% in the third quarter, HoldingsChannel.com reports. The firm owned 286,327 shares of the company’s stock after selling 279,004 shares during the quarter. Public Sector Pension Investment Board’s holdings in Johnson & Johnson were worth $53,091,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Norges Bank acquired a new stake in Johnson & Johnson during the second quarter worth approximately $4,877,174,000. Laurel Wealth Advisors LLC lifted its position in shares of Johnson & Johnson by 15,040.6% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 7,420,699 shares of the company’s stock valued at $1,133,512,000 after acquiring an additional 7,371,687 shares during the period. Vanguard Group Inc. grew its holdings in shares of Johnson & Johnson by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 237,047,859 shares of the company’s stock worth $36,209,060,000 after purchasing an additional 3,085,180 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Johnson & Johnson by 2.1% in the second quarter. Geode Capital Management LLC now owns 60,609,476 shares of the company’s stock worth $9,227,988,000 after purchasing an additional 1,225,676 shares during the period. Finally, Legal & General Group Plc raised its stake in Johnson & Johnson by 6.2% in the second quarter. Legal & General Group Plc now owns 18,917,274 shares of the company’s stock valued at $2,889,614,000 after purchasing an additional 1,097,855 shares in the last quarter. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $244.54 on Friday. Johnson & Johnson has a one year low of $141.50 and a one year high of $246.35. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.07 and a quick ratio of 0.80. The company has a market cap of $589.17 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 2.34 and a beta of 0.35. The firm has a 50 day simple moving average of $216.42 and a 200 day simple moving average of $195.85.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Saturday, January 31st. The company reported $2.46 earnings per share (EPS) for the quarter. Johnson & Johnson had a net margin of 28.46% and a return on equity of 33.34%. The company had revenue of $24.28 billion during the quarter. Research analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th will be given a $1.30 dividend. The ex-dividend date is Tuesday, February 24th. This represents a $5.20 annualized dividend and a yield of 2.1%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 47.06%.

Analysts Set New Price Targets

JNJ has been the topic of a number of analyst reports. Johnson Rice set a $190.00 price objective on shares of Johnson & Johnson and gave the stock a “hold” rating in a research note on Wednesday, October 22nd. Argus upped their price target on shares of Johnson & Johnson from $210.00 to $240.00 in a report on Friday, January 23rd. Sanford C. Bernstein lifted their price objective on shares of Johnson & Johnson from $208.00 to $225.00 and gave the company a “market perform” rating in a research note on Friday, January 23rd. The Goldman Sachs Group restated a “buy” rating and set a $250.00 target price on shares of Johnson & Johnson in a research note on Thursday, January 22nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Johnson & Johnson in a report on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $233.73.

Johnson & Johnson Profile

Johnson & Johnson is a multinational healthcare company headquartered in New Brunswick, New Jersey, that develops, manufactures and markets a broad range of products across pharmaceuticals, medical devices and previously consumer health. Founded in 1886 by the Johnson family, the company has grown into a global healthcare organization with operations and sales in many countries around the world.

The company’s pharmaceuticals business, organized largely under its Janssen research and development organization, focuses on prescription medicines across therapeutic areas such as immunology, infectious disease, oncology and neuroscience.