Stoneridge Investment Partners LLC Purchases 4,038 Shares of Johnson & Johnson (NYSE:JNJ)

Stoneridge Investment Partners LLC grew its position in shares of Johnson & Johnson (NYSE:JNJ) by 25.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 20,221 shares of the company’s stock after acquiring an additional 4,038 shares during the quarter. Johnson & Johnson comprises approximately 1.1% of Stoneridge Investment Partners LLC’s holdings, making the stock its 28th largest holding. Stoneridge Investment Partners LLC’s holdings in Johnson & Johnson were worth $2,956,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of JNJ. Norges Bank purchased a new stake in Johnson & Johnson during the 4th quarter valued at $4,071,642,000. Wellington Management Group LLP raised its holdings in Johnson & Johnson by 16.4% during the 4th quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after buying an additional 3,391,657 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Johnson & Johnson by 16.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock valued at $3,453,978,000 after buying an additional 3,139,499 shares during the period. American Century Companies Inc. raised its holdings in Johnson & Johnson by 5.8% during the 2nd quarter. American Century Companies Inc. now owns 8,014,213 shares of the company’s stock valued at $1,171,357,000 after buying an additional 437,637 shares during the period. Finally, Ninety One UK Ltd raised its holdings in Johnson & Johnson by 59.0% during the 2nd quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock valued at $980,579,000 after buying an additional 2,489,925 shares during the period. 69.55% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the transaction, the vice president now owns 18,973 shares in the company, valued at $3,131,683.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is owned by insiders.

Wall Street Analyst Weigh In

JNJ has been the topic of several recent research reports. Royal Bank of Canada restated an “outperform” rating and set a $175.00 price target on shares of Johnson & Johnson in a report on Tuesday, July 30th. TD Securities decreased their price target on Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Daiwa Capital Markets downgraded Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Morgan Stanley lifted their target price on Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Finally, The Goldman Sachs Group decreased their target price on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Seven equities research 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $173.21.

Johnson & Johnson Stock Performance

JNJ stock opened at $165.52 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85. The business has a 50-day moving average price of $159.55 and a 200 day moving average price of $153.99. The company has a market capitalization of $398.45 billion, a P/E ratio of 10.32, a PEG ratio of 2.71 and a beta of 0.53. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The company had revenue of $22.45 billion for the quarter, compared to analyst estimates of $22.33 billion. During the same quarter in the previous year, the firm earned $2.80 earnings per share. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. As a group, equities research analysts forecast that Johnson & Johnson will post 10.02 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were paid a $1.24 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 3.00%. 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.