State of Michigan Retirement System reduced its position in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 1.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 745,224 shares of the company’s stock after selling 14,600 shares during the period. Johnson & Johnson comprises 0.9% of State of Michigan Retirement System’s investment portfolio, making the stock its 13th largest holding. State of Michigan Retirement System’s holdings in Johnson & Johnson were worth $131,644,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in JNJ. DORCHESTER WEALTH MANAGEMENT Co grew its holdings in shares of Johnson & Johnson by 8.6% during the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 67,618 shares of the company’s stock worth $14,975,000 after purchasing an additional 5,327 shares during the last quarter. Cantor Fitzgerald Investment Advisor L.P boosted its holdings in Johnson & Johnson by 88.9% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 175,194 shares of the company’s stock valued at $31,049,000 after acquiring an additional 82,429 shares during the last quarter. AMI Investment Management Inc. boosted its holdings in Johnson & Johnson by 8.8% in the first quarter. AMI Investment Management Inc. now owns 18,305 shares of the company’s stock valued at $3,244,000 after acquiring an additional 1,475 shares during the last quarter. Equitable Holdings Inc. boosted its holdings in Johnson & Johnson by 4.9% in the first quarter. Equitable Holdings Inc. now owns 45,673 shares of the company’s stock valued at $8,095,000 after acquiring an additional 2,119 shares during the last quarter. Finally, USS Investment Management Ltd boosted its holdings in Johnson & Johnson by 2.4% in the first quarter. USS Investment Management Ltd now owns 860,371 shares of the company’s stock valued at $152,488,000 after acquiring an additional 20,528 shares during the last quarter. 67.94% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several brokerages recently commented on JNJ. Morgan Stanley reduced their target price on Johnson & Johnson from $180.00 to $179.00 and set an “equal weight” rating on the stock in a report on Monday, April 10th. Atlantic Securities boosted their price target on Johnson & Johnson from $160.00 to $168.00 and gave the company a “neutral” rating in a research note on Wednesday, January 25th. SVB Leerink dropped their price target on Johnson & Johnson from $194.00 to $186.00 and set an “outperform” rating on the stock in a research note on Friday, January 20th. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Wednesday, February 1st. Finally, UBS Group initiated coverage on Johnson & Johnson in a research report on Tuesday, March 28th. They set a “neutral” rating and a $164.00 target price on the stock. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.07.
Johnson & Johnson Trading Down 0.2 %
Johnson & Johnson (NYSE:JNJ – Get Rating) last released its quarterly earnings results on Tuesday, January 24th. The company reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.13. The business had revenue of $23.71 billion during the quarter, compared to analyst estimates of $23.90 billion. Johnson & Johnson had a return on equity of 35.76% and a net margin of 18.90%. Johnson & Johnson’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.13 EPS. On average, analysts predict that Johnson & Johnson will post 10.49 EPS for the current fiscal year.
Insider Buying and Selling at Johnson & Johnson
In other Johnson & Johnson news, insider James D. Swanson sold 1,062 shares of the company’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $154.66, for a total value of $164,248.92. Following the completion of the transaction, the insider now owns 9,215 shares in the company, valued at approximately $1,425,191.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.
Johnson & Johnson Company Profile
Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer Health, Pharmaceutical, and MedTech. The Consumer Health segment includes products focused on personal healthcare used in the Skin Health/Beauty, Over-the-Counter medicines, Baby Care, Oral Care, Women’s Health and Wound Care markets.
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