Retirement Systems of Alabama Has $179.75 Million Holdings in Johnson & Johnson (NYSE:JNJ)

Retirement Systems of Alabama lowered its stake in shares of Johnson & Johnson (NYSE:JNJ) by 0.0% during the fourth quarter, Holdings Channel reports. The fund owned 1,242,909 shares of the company’s stock after selling 181 shares during the period. Johnson & Johnson makes up approximately 0.7% of Retirement Systems of Alabama’s holdings, making the stock its 18th biggest holding. Retirement Systems of Alabama’s holdings in Johnson & Johnson were worth $179,750,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp increased its position in shares of Johnson & Johnson by 0.9% during the third quarter. State Street Corp now owns 134,245,811 shares of the company’s stock worth $21,755,874,000 after acquiring an additional 1,154,088 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Johnson & Johnson by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 56,106,884 shares of the company’s stock valued at $9,064,149,000 after buying an additional 1,004,763 shares during the last quarter. FMR LLC boosted its stake in shares of Johnson & Johnson by 7.4% during the 3rd quarter. FMR LLC now owns 18,316,920 shares of the company’s stock worth $2,968,440,000 after acquiring an additional 1,265,748 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Johnson & Johnson by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock valued at $2,858,543,000 after purchasing an additional 102,502 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in shares of Johnson & Johnson by 11.4% during the 3rd quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock worth $2,721,355,000 after buying an additional 1,729,281 shares during the period. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

JNJ opened at $153.10 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $168.85. The company has a fifty day moving average of $147.46 and a 200 day moving average of $156.06. The stock has a market capitalization of $368.61 billion, a price-to-earnings ratio of 23.02, a PEG ratio of 2.44 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.05. The firm had revenue of $22.52 billion during the quarter, compared to analysts’ expectations of $22.44 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.35%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.29 EPS. As a group, sell-side analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be given a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.24%. Johnson & Johnson’s payout ratio is 74.59%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on JNJ. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $181.00 target price on shares of Johnson & Johnson in a research note on Thursday, January 23rd. Argus raised Johnson & Johnson to a “strong-buy” rating in a report on Friday, January 24th. Wolfe Research assumed coverage on shares of Johnson & Johnson in a report on Friday, November 15th. They issued an “outperform” rating and a $190.00 target price on the stock. Finally, Citigroup dropped their target price on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus target price of $170.67.

Insiders Place Their Bets

In other Johnson & Johnson news, Director Mark A. Weinberger bought 1,000 shares of the stock in a transaction on Thursday, December 12th. The shares were bought at an average price of $147.22 per share, with a total value of $147,220.00. Following the purchase, the director now directly owns 1,000 shares in the company, valued at $147,220. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

About Johnson & Johnson

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.