Eagle Ridge Investment Management Trims Stock Position in Johnson & Johnson (NYSE:JNJ)

Eagle Ridge Investment Management lessened its position in shares of Johnson & Johnson (NYSE:JNJ) by 0.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 39,130 shares of the company’s stock after selling 180 shares during the quarter. Eagle Ridge Investment Management’s holdings in Johnson & Johnson were worth $6,190,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in JNJ. Kennedy Capital Management LLC raised its position in shares of Johnson & Johnson by 18.6% during the 3rd quarter. Kennedy Capital Management LLC now owns 20,478 shares of the company’s stock valued at $3,189,000 after buying an additional 3,206 shares during the period. Rainsberger Wealth Advisors Inc. raised its position in shares of Johnson & Johnson by 2.6% during the 3rd quarter. Rainsberger Wealth Advisors Inc. now owns 14,584 shares of the company’s stock valued at $2,271,000 after buying an additional 373 shares during the period. Industrial Alliance Investment Management Inc. raised its position in Johnson & Johnson by 125.4% in the third quarter. Industrial Alliance Investment Management Inc. now owns 6,671 shares of the company’s stock valued at $1,039,000 after purchasing an additional 3,711 shares during the period. Annandale Capital LLC raised its position in Johnson & Johnson by 6.8% in the third quarter. Annandale Capital LLC now owns 19,171 shares of the company’s stock valued at $2,986,000 after purchasing an additional 1,221 shares during the period. Finally, Dana Investment Advisors Inc. raised its position in Johnson & Johnson by 125.4% in the third quarter. Dana Investment Advisors Inc. now owns 106,403 shares of the company’s stock valued at $16,572,000 after purchasing an additional 59,199 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $145.62 on Thursday. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36. The firm has a fifty day moving average price of $148.02 and a 200 day moving average price of $153.91. The company has a market cap of $350.46 billion, a P/E ratio of 9.08, a PEG ratio of 2.43 and a beta of 0.52. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97.

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

Johnson & Johnson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were paid a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 3.41%. The ex-dividend date was Monday, May 20th. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Analyst Ratings Changes

A number of brokerages have issued reports on JNJ. The Goldman Sachs Group began coverage on Johnson & Johnson in a research report on Thursday, May 30th. They issued a “neutral” rating and a $160.00 target price on the stock. Morgan Stanley cut their target price on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a research report on Monday, June 17th. HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and boosted their target price for the company from $169.00 to $170.00 in a research report on Thursday, April 18th. Finally, Bank of America cut their price objective on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.07.

Johnson & Johnson Profile

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.