Texas Permanent School Fund trimmed its stake in Johnson & Johnson (NYSE:JNJ) by 3.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 492,044 shares of the company’s stock after selling 19,984 shares during the quarter. Johnson & Johnson makes up about 1.0% of Texas Permanent School Fund’s portfolio, making the stock its 9th biggest holding. Texas Permanent School Fund’s holdings in Johnson & Johnson were worth $63,661,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of JNJ. Virtus ETF Advisers LLC bought a new position in shares of Johnson & Johnson during the 2nd quarter worth approximately $25,000. Krane Funds Advisors LLC bought a new position in shares of Johnson & Johnson during the 2nd quarter worth approximately $26,000. Financial Advantage Inc. bought a new stake in Johnson & Johnson in the 3rd quarter valued at $28,000. Crewe Advisors LLC boosted its stake in Johnson & Johnson by 725.9% in the 2nd quarter. Crewe Advisors LLC now owns 223 shares of the company’s stock valued at $31,000 after purchasing an additional 196 shares during the period. Finally, Permanens Capital L.P. boosted its stake in Johnson & Johnson by 50.0% in the 2nd quarter. Permanens Capital L.P. now owns 300 shares of the company’s stock valued at $42,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 72.25% of the company’s stock.

Shares of NYSE JNJ opened at $131.43 on Friday. The stock has a market capitalization of $343.25 billion, a PE ratio of 16.07, a P/E/G ratio of 2.20 and a beta of 0.69. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.26 and a quick ratio of 1.00. The business has a fifty day moving average price of $130.80 and a two-hundred day moving average price of $134.07. Johnson & Johnson has a fifty-two week low of $121.00 and a fifty-two week high of $148.99.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $2.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.00 by $0.12. The firm had revenue of $20.73 billion during the quarter, compared to analysts’ expectations of $20.14 billion. Johnson & Johnson had a return on equity of 39.81% and a net margin of 21.09%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.05 EPS. On average, equities analysts expect that Johnson & Johnson will post 8.65 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be issued a $0.95 dividend. The ex-dividend date is Monday, November 25th. This represents a $3.80 annualized dividend and a yield of 2.89%. Johnson & Johnson’s dividend payout ratio is presently 46.45%.

Several analysts recently issued reports on the company. Wells Fargo & Co reduced their price target on Johnson & Johnson from $157.00 to $155.00 and set an “outperform” rating for the company in a research note on Wednesday, October 16th. Raymond James reduced their price target on Johnson & Johnson from $146.00 to $145.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. Morgan Stanley restated an “equal weight” rating and issued a $145.00 price target on shares of Johnson & Johnson in a research note on Tuesday, August 27th. Zacks Investment Research upgraded Johnson & Johnson from a “sell” rating to a “hold” rating and set a $142.00 price target for the company in a research note on Thursday, October 17th. Finally, Royal Bank of Canada restated a “buy” rating on shares of Johnson & Johnson in a research note on Tuesday, July 16th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $151.64.

Johnson & Johnson 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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