Eagle Rock Investment Company LLC Cuts Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Eagle Rock Investment Company LLC lessened its position in Johnson & Johnson (NYSE:JNJ) by 24.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,112 shares of the company’s stock after selling 13,858 shares during the quarter. Johnson & Johnson comprises 1.2% of Eagle Rock Investment Company LLC’s holdings, making the stock its 22nd largest position. Eagle Rock Investment Company LLC’s holdings in Johnson & Johnson were worth $6,662,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in JNJ. Constitution Capital LLC boosted its position in Johnson & Johnson by 2.0% during the first quarter. Constitution Capital LLC now owns 15,677 shares of the company’s stock worth $2,480,000 after acquiring an additional 300 shares during the last quarter. Chemistry Wealth Management LLC boosted its holdings in shares of Johnson & Johnson by 8.5% during the 1st quarter. Chemistry Wealth Management LLC now owns 15,891 shares of the company’s stock worth $2,514,000 after purchasing an additional 1,243 shares during the last quarter. Henrickson Nauta Wealth Advisors Inc. purchased a new stake in shares of Johnson & Johnson in the first quarter valued at approximately $244,000. Sound Income Strategies LLC lifted its position in Johnson & Johnson by 12.6% during the first quarter. Sound Income Strategies LLC now owns 6,109 shares of the company’s stock worth $966,000 after buying an additional 683 shares in the last quarter. Finally, First Bancorp Inc ME boosted its stake in Johnson & Johnson by 8.2% during the first quarter. First Bancorp Inc ME now owns 8,675 shares of the company’s stock worth $1,372,000 after buying an additional 654 shares during the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JNJ has been the topic of several recent research reports. HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and boosted their price target for the company from $169.00 to $170.00 in a research report on Thursday, April 18th. StockNews.com cut shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 22nd. Morgan Stanley decreased their price objective on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 target price on shares of Johnson & Johnson in a research note on Monday, June 17th. Finally, The Goldman Sachs Group initiated coverage on Johnson & Johnson in a research note on Thursday, May 30th. They issued a “neutral” rating and a $160.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $174.07.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $146.81 on Thursday. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $175.97. The firm has a 50 day moving average of $148.13 and a two-hundred day moving average of $154.24. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $353.32 billion, a PE ratio of 9.15, a P/E/G ratio of 2.45 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, topping the consensus estimate of $2.64 by $0.07. The firm had revenue of $21.38 billion during the quarter, compared to analysts’ expectations of $21.39 billion. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. Johnson & Johnson’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.68 EPS. On average, research analysts predict that Johnson & Johnson will post 10.63 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were paid a $1.24 dividend. The ex-dividend date of this dividend was Monday, May 20th. This represents a $4.96 dividend on an annualized basis and a yield of 3.38%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s payout ratio is currently 30.92%.

About Johnson & Johnson

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.