Eagle Ridge Investment Management Has $5.57 Million Stake in Johnson & Johnson (NYSE:JNJ)

Eagle Ridge Investment Management reduced its holdings in Johnson & Johnson (NYSE:JNJ) by 2.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund 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 filing with the SEC.

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

Analysts Set New Price Targets

A number of research analysts have commented on JNJ shares. Sanford C. Bernstein raised their price target on shares of Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a report on Tuesday, July 30th. Daiwa America lowered shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th. Finally, Morgan Stanley raised their price target on shares of Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $173.21.

Johnson & Johnson Price Performance

JNJ opened at $164.10 on Friday. The company has a fifty day moving average price of $153.92 and a two-hundred day moving average price of $153.27. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $167.78. The firm has a market capitalization of $394.94 billion, a PE ratio of 10.23, a P/E/G ratio of 2.63 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. The company had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period last year, the firm posted $2.80 earnings per share. As a group, analysts anticipate that Johnson & Johnson will post 10.07 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th will be given a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 3.02%. Johnson & Johnson’s dividend payout ratio is currently 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.