Retirement Systems Of Alabama Sells 40,129 Johnson & Johnson (NYSE:JNJ) Shares

VaselineAugust 26, 2024

0 4 minutes read

Retirement Systems of Alabama lowered its holdings in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 3.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,194,840 shares of the company’s stock after selling 40,129 shares during the period. Johnson & Johnson accounts for about 0.7% of Retirement System of Alabama’s holdings, making the stock its 20th biggest holding. Retrament Systems of Alabama’s holdings in Johnson & Johnson were worth $174,638,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Alliance Wealth Advisors LLC UT raised its holdings in shares of Johnson & Johnson by 1.4% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 4,714 shares of the company’s stock valued at $739,000 after buying an additional 64 shares during the period. Carolinas Wealth Consulting LLC raised its position in Johnson & Johnson by 0.4% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 16,861 shares of the company’s stock valued at $2,643,000 after acquiring an additional 64 shares during the last quarter. Epic Trust Investment Advisors LLC boosted its holdings in Johnson & Johnson by 3.6% in the second quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock valued at $268,000 after acquiring an additional 64 shares during the period. Verity Asset Management Inc. boosted its position in Johnson & Johnson by 2.0% in the fourth quarter. Verity Asset Management Inc. now owns 3,268 shares of the company’s stock worth $512,000 after buying an additional 65 shares during the last quarter. Finally, Forza Wealth Management LLC raised its stake in shares of Johnson & Johnson by 0.8% during the 2nd quarter. Forza Wealth Management LLC now owns 8,742 shares of the company’s stock, valued at $1,278,000 , after buying an additional 66 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s shares.

Changes in Analyst Ratings

Several brokerages have recently issued reports on JNJ. TD Cowen cut their price target on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Goldman Sachs Group decreased their price objective on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Monday, August 5th. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 target price on shares of Johnson & Johnson in a report on Tuesday, July 30th. Finally, TD Securities decreased their price objective on Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $173.21.

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Johnson & Johnson price performance

Shares of Johnson & Johnson stock opened at $164.13 on Friday. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $167.78. The company has a quick ratio of 0.85, a current ratio of 1.07, and a debt-to-equity ratio of 0.44. The company’s fifty-day moving average is $153.92, and its 200-day moving average is $153.24. The company has a market cap of $395.01 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 2.63 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ – Get Free Report ) last issued its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The company had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $22.33 billion. In the same period last year, the firm posted earnings of $2.80 per share. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. sell-side analysts anticipate that Johnson & Johnson will post 10.07 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th will be paid a dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a dividend of $4.96 on an annualized basis and a dividend yield of 3.02%. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Johnson & Johnson Company Profile

(Free report)

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures and sells various health products worldwide. The company’s Innovative Medicines segment offers products for various therapeutic areas such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease and psoriasis; infectious diseases including HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders and schizophrenia; oncology, such as prostate cancer, hematological malignancies, lung cancer and bladder cancer; cardiovascular and metabolic, including thrombosis, diabetes and macular degeneration; and pulmonary hypertension including pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals and healthcare professionals for prescription use.