Ridgecrest Wealth Partners LLC Has $1.92 Million Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Ridgecrest Wealth Partners LLC lowered its holdings in Johnson & Johnson (NYSE:JNJ) by 7.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,293 shares of the company’s stock after selling 1,052 shares during the quarter. Johnson & Johnson accounts for about 1.0% of Ridgecrest Wealth Partners LLC’s investment portfolio, making the stock its 18th biggest position. Ridgecrest Wealth Partners LLC’s holdings in Johnson & Johnson were worth $1,922,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Powers Advisory Group LLC raised its holdings in Johnson & Johnson by 0.6% in the third quarter. Powers Advisory Group LLC now owns 9,489 shares of the company’s stock worth $1,538,000 after purchasing an additional 61 shares during the period. Eagle Wealth Strategies LLC increased its position in shares of Johnson & Johnson by 2.8% in the 3rd quarter. Eagle Wealth Strategies LLC now owns 2,294 shares of the company’s stock valued at $372,000 after buying an additional 63 shares in the last quarter. Knuff & Co LLC raised its stake in Johnson & Johnson by 0.7% during the 3rd quarter. Knuff & Co LLC now owns 9,466 shares of the company’s stock worth $1,534,000 after buying an additional 64 shares during the period. Perkins Coie Trust Co grew its stake in Johnson & Johnson by 1.8% in the third quarter. Perkins Coie Trust Co now owns 3,705 shares of the company’s stock valued at $600,000 after acquiring an additional 65 shares during the period. Finally, Vertex Planning Partners LLC increased its holdings in shares of Johnson & Johnson by 1.3% in the third quarter. Vertex Planning Partners LLC now owns 5,211 shares of the company’s stock worth $844,000 after acquiring an additional 65 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $152.78 on Friday. The company has a 50-day simple moving average of $147.73 and a 200 day simple moving average of $156.10. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03. The company has a market capitalization of $367.82 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 2.45 and a beta of 0.51. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $168.85.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.05. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.35%. The company had revenue of $22.52 billion during the quarter, compared to analysts’ expectations of $22.44 billion. During the same quarter in the previous year, the business posted $2.29 earnings per share. Johnson & Johnson’s quarterly revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts predict that Johnson & Johnson will post 10.56 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 74.59%.

Insider Buying and Selling

In other news, Director Mark A. Weinberger bought 1,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was bought at an average cost of $147.22 per share, for a total transaction of $147,220.00. Following the transaction, the director now owns 1,000 shares of the company’s stock, valued at $147,220. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on JNJ. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Raymond James lowered their price objective on shares of Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Wells Fargo & Company cut their price objective on shares of Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 25th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $181.00 price objective on shares of Johnson & Johnson in a research report on Thursday, January 23rd. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $170.44.

Johnson & Johnson Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.