Ridgecrest Wealth Partners LLC Grows Stake in Johnson & Johnson (NYSE:JNJ)

Ridgecrest Wealth Partners LLC boosted its stake in Johnson & Johnson (NYSE:JNJ) by 2.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,274 shares of the company’s stock after acquiring an additional 353 shares during the period. Johnson & Johnson comprises approximately 1.3% of Ridgecrest Wealth Partners LLC’s portfolio, making the stock its 16th largest position. Ridgecrest Wealth Partners LLC’s holdings in Johnson & Johnson were worth $2,258,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pathway Financial Advisors LLC increased its holdings in shares of Johnson & Johnson by 4.3% in the 4th quarter. Pathway Financial Advisors LLC now owns 5,438 shares of the company’s stock valued at $852,000 after acquiring an additional 226 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of Johnson & Johnson by 5.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 297,850 shares of the company’s stock valued at $46,685,000 after buying an additional 15,490 shares during the last quarter. OneAscent Financial Services LLC grew its holdings in shares of Johnson & Johnson by 82.8% during the fourth quarter. OneAscent Financial Services LLC now owns 9,838 shares of the company’s stock worth $1,542,000 after buying an additional 4,457 shares during the last quarter. Vestmark Advisory Solutions Inc. increased its position in Johnson & Johnson by 12.7% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 19,587 shares of the company’s stock valued at $3,070,000 after acquiring an additional 2,201 shares during the period. Finally, TrueMark Investments LLC purchased a new stake in Johnson & Johnson during the 4th quarter valued at approximately $1,458,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Trading Up 0.2 %

Shares of JNJ stock opened at $146.16 on Monday. The stock has a market cap of $351.76 billion, a P/E ratio of 9.11, a P/E/G ratio of 2.43 and a beta of 0.53. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $175.97. The business has a fifty day simple moving average of $148.14 and a 200-day simple moving average of $154.05.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The firm had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. During the same period last year, the firm posted $2.68 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, analysts forecast that Johnson & Johnson will post 10.62 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend was Monday, May 20th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio is 30.92%.

Wall Street Analyst Weigh In

JNJ has been the topic of a number of recent research reports. Bank of America dropped their target price on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a report on Monday, June 17th. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research report on Thursday, June 20th. Finally, The Goldman Sachs Group began coverage on Johnson & Johnson in a research report on Thursday, May 30th. They set a “neutral” rating and a $160.00 target price on the stock. Eight analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $174.07.

About Johnson & Johnson

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