Cornerstone Wealth Management LLC Raises Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Cornerstone Wealth Management LLC lifted its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 5.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,565 shares of the company’s stock after purchasing an additional 2,456 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Johnson & Johnson were worth $6,514,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Norges Bank bought a new stake in Johnson & Johnson in the fourth quarter valued at approximately $4,071,642,000. Wellington Management Group LLP raised its holdings in shares of Johnson & Johnson by 16.4% during the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after acquiring an additional 3,391,657 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Johnson & Johnson by 16.8% during the first 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 acquiring an additional 3,139,499 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Johnson & Johnson by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,945,533 shares of the company’s stock valued at $2,483,532,000 after acquiring an additional 241,799 shares in the last quarter. Finally, California Public Employees Retirement System raised its holdings in shares of Johnson & Johnson by 4.9% during the fourth quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock valued at $1,664,620,000 after acquiring an additional 498,647 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

JNJ stock traded up $0.15 during trading on Thursday, reaching $158.63. The stock had a trading volume of 2,144,029 shares, compared to its average volume of 7,323,737. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $175.39. The stock’s 50 day moving average is $151.88 and its two-hundred day moving average is $153.10. 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 cap of $381.77 billion, a PE ratio of 9.90, a PEG ratio of 2.63 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, topping 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 firm had revenue of $22.45 billion for the quarter, compared to the consensus estimate of $22.33 billion. During the same quarter last year, the company earned $2.80 earnings per share. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, equities analysts anticipate that Johnson & Johnson will post 10.07 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th will be given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 3.13%. The ex-dividend date is Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Analyst Upgrades and Downgrades

JNJ has been the subject of a number of recent analyst reports. Bank of America decreased their target price on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Monday, August 5th. StockNews.com cut Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. Daiwa Capital Markets cut Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Finally, HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and upped their price target for the stock from $169.00 to $170.00 in a research note on Thursday, April 18th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $173.21.

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.