Agate Pass Investment Management LLC Has $3.15 Million Stock Position in Johnson & Johnson (NYSE:JNJ)

Agate Pass Investment Management LLC lifted its position in Johnson & Johnson (NYSE:JNJ) by 0.5% in the second quarter, HoldingsChannel.com reports. The firm owned 21,566 shares of the company’s stock after acquiring an additional 99 shares during the period. Johnson & Johnson comprises 1.7% of Agate Pass Investment Management LLC’s investment portfolio, making the stock its 17th largest holding. Agate Pass Investment Management LLC’s holdings in Johnson & Johnson were worth $3,152,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in JNJ. Christopher J. Hasenberg Inc bought a new position in Johnson & Johnson during the first quarter worth about $31,000. Keener Financial Planning LLC acquired a new stake in shares of Johnson & Johnson in the fourth quarter valued at approximately $40,000. WFA Asset Management Corp grew its stake in 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 in the last quarter. Vermillion & White Wealth Management Group LLC bought a new position in shares of Johnson & Johnson in the 4th quarter valued at $44,000. Finally, Disciplined Equity Management Inc. bought a new position in Johnson & Johnson in the 4th quarter valued at approximately $45,000. Institutional investors own 69.55% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their price target for the company from $169.00 to $170.00 in a research note on Thursday, April 18th. Daiwa Capital Markets cut Johnson & Johnson from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price objective on shares of Johnson & Johnson in a report on Tuesday, July 30th. StockNews.com lowered Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. Finally, Bank of America decreased their price objective on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Seven research analysts have rated the stock with a hold rating and seven have issued a 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 Stock Down 0.9 %

NYSE JNJ traded down $1.49 during trading on Tuesday, reaching $158.39. 9,194,576 shares of the company’s stock were exchanged, compared to its average volume of 7,368,586. 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 firm has a market capitalization of $381.19 billion, a PE ratio of 9.81, a P/E/G ratio of 2.63 and a beta of 0.52. The company’s fifty day simple moving average is $151.41 and its 200-day simple moving average is $153.07. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $175.60.

Johnson & Johnson (NYSE:JNJ) last posted 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. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The business had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. During the same period in the previous year, the firm posted $2.80 earnings per share. Johnson & Johnson’s revenue for the quarter was up 4.3% compared to the same quarter last year. Sell-side analysts predict that Johnson & Johnson will post 10.07 EPS for the current year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be given a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend is Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio is 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.