Eagle Ridge Investment Management Boosts Position in Johnson & Johnson (JNJ)
Eagle Ridge Investment Management lifted its position in shares of Johnson & Johnson (NYSE:JNJ) by 3.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,522 shares of the company’s stock after acquiring an additional 928 shares during the period. Eagle Ridge Investment Management’s holdings in Johnson & Johnson were worth $3,578,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. FinTrust Investment Advisory Services LLC acquired a new stake in shares of Johnson & Johnson during the 3rd quarter valued at approximately $886,000. Paragon Capital Management Ltd raised its position in shares of Johnson & Johnson by 10.2% during the 3rd quarter. Paragon Capital Management Ltd now owns 16,371 shares of the company’s stock valued at $2,128,000 after acquiring an additional 1,520 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in shares of Johnson & Johnson by 49.3% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,313 shares of the company’s stock valued at $709,000 after acquiring an additional 1,754 shares in the last quarter. Spinnaker Trust raised its position in shares of Johnson & Johnson by 0.5% during the 3rd quarter. Spinnaker Trust now owns 76,022 shares of the company’s stock valued at $9,882,000 after acquiring an additional 356 shares in the last quarter. Finally, Fort Pitt Capital Group LLC raised its position in shares of Johnson & Johnson by 3.5% during the 3rd quarter. Fort Pitt Capital Group LLC now owns 22,364 shares of the company’s stock valued at $2,907,000 after acquiring an additional 748 shares in the last quarter. 65.70% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have weighed in on JNJ. Vetr lowered Johnson & Johnson from a “buy” rating to a “hold” rating and set a $147.40 target price on the stock. in a research report on Monday. JPMorgan Chase & Co. lowered Johnson & Johnson from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 2nd. BMO Capital Markets increased their target price on Johnson & Johnson to $161.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 12th. Zacks Investment Research lowered Johnson & Johnson from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Finally, Citigroup increased their target price on Johnson & Johnson from $140.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday, October 23rd. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. Johnson & Johnson has an average rating of “Hold” and a consensus target price of $145.52.
Johnson & Johnson (NYSE JNJ) opened at $141.89 on Tuesday. Johnson & Johnson has a 52 week low of $110.76 and a 52 week high of $144.35. The stock has a market capitalization of $381,190.00, a price-to-earnings ratio of 24.63, a PEG ratio of 2.67 and a beta of 0.80. The company has a quick ratio of 1.02, a current ratio of 1.32 and a debt-to-equity ratio of 0.36.
Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, October 17th. The company reported $1.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.80 by $0.10. Johnson & Johnson had a return on equity of 27.38% and a net margin of 21.28%. The company had revenue of $19.65 billion during the quarter, compared to analysts’ expectations of $19.29 billion. During the same quarter in the prior year, the business posted $1.68 earnings per share. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. research analysts expect that Johnson & Johnson will post 7.28 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 13th. Stockholders of record on Tuesday, February 27th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Monday, February 26th. This represents a $3.36 annualized dividend and a dividend yield of 2.37%. Johnson & Johnson’s payout ratio is 58.33%.
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Johnson & Johnson Company Profile
Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of a range of products in the healthcare field. It operates through three segments: Consumer, Pharmaceutical and Medical Devices. Its primary focus is products related to human health and well-being.
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