Cornerstone Wealth Management LLC Grows Stock Position in Johnson & Johnson (NYSE:JNJ)

Cornerstone Wealth Management LLC raised its stake in shares of Johnson & Johnson (NYSE:JNJ) by 4.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 51,706 shares of the company’s stock after purchasing an additional 1,971 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Johnson & Johnson were worth $8,575,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of JNJ. WealthTrak Capital Management LLC purchased a new position in shares of Johnson & Johnson in the 4th quarter worth about $26,000. Mountain Hill Investment Partners Corp. acquired a new stake in Johnson & Johnson in the 4th quarter valued at $29,000. Conquis Financial LLC purchased a new stake in shares of Johnson & Johnson during the 4th quarter valued at about $33,000. Bernard Wealth Management Corp. purchased a new stake in shares of Johnson & Johnson during the fourth quarter valued at approximately $36,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in Johnson & Johnson during the 4th quarter worth $38,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on JNJ. Leerink Partnrs lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Royal Bank Of Canada restated an “outperform” rating and set a $181.00 price objective on shares of Johnson & Johnson in a research note on Thursday, June 5th. Wall Street Zen lowered shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Leerink Partners downgraded shares of Johnson & Johnson from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $169.00 to $153.00 in a research report on Tuesday, May 13th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Johnson & Johnson in a research report on Wednesday, April 2nd. Eleven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Johnson & Johnson presently has an average rating of “Moderate Buy” and an average price target of $170.88.

Johnson & Johnson Trading Down 1.1%

Johnson & Johnson stock opened at $150.77 on Thursday. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $169.99. The stock has a market capitalization of $362.76 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 2.31 and a beta of 0.42. The firm has a 50 day simple moving average of $154.06 and a 200-day simple moving average of $153.67. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.03.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.18. Johnson & Johnson had a return on equity of 33.46% and a net margin of 24.42%. The company had revenue of $21.89 billion for the quarter, compared to the consensus estimate of $21.65 billion. As a group, equities research analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th were given a $1.30 dividend. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $5.20 annualized dividend and a yield of 3.45%. Johnson & Johnson’s payout ratio is 57.84%.

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.