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

Eagle Ridge Investment Management trimmed its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 2.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,103 shares of the company’s stock after selling 1,027 shares during the quarter. Eagle Ridge Investment Management’s holdings in Johnson & Johnson were worth $5,569,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Christopher J. Hasenberg Inc purchased a new position in Johnson & Johnson in the first quarter worth $31,000. WFA Asset Management Corp lifted its stake in shares of Johnson & Johnson by 61.4% during the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after buying an additional 97 shares during the period. MFA Wealth Advisors LLC acquired a new stake in shares of Johnson & Johnson during the second quarter worth $43,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Johnson & Johnson during the fourth quarter worth $44,000. Finally, Disciplined Equity Management Inc. acquired a new stake in shares of Johnson & Johnson during the fourth quarter worth $45,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on JNJ. TD Cowen decreased their target price 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. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Monday, August 5th. Royal Bank of Canada restated an “outperform” rating and set a $175.00 target price on shares of Johnson & Johnson in a research report on Tuesday, July 30th. Daiwa America downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, Sanford C. Bernstein upped their price objective on shares of Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $173.21.

Johnson & Johnson Stock Up 1.1 %

Shares of NYSE JNJ opened at $164.10 on Friday. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $167.78. The stock has a market cap of $394.94 billion, a PE ratio of 10.23, a P/E/G ratio of 2.63 and a beta of 0.52. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The company has a 50-day moving average of $153.92 and a 200 day moving average of $153.27.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.11. The company had revenue of $22.45 billion for the quarter, compared to analyst estimates of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. Johnson & Johnson’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.80 EPS. As a group, sell-side analysts predict that Johnson & Johnson will post 10.07 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be issued a dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a yield of 3.02%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

Johnson & Johnson Company 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.