Johnson & Johnson (JNJ) Shares Sold by Cornerstone Investment Partners LLC
Cornerstone Investment Partners LLC decreased its holdings in Johnson & Johnson (NYSE:JNJ) by 10.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 785,005 shares of the company’s stock after selling 94,479 shares during the quarter. Johnson & Johnson accounts for about 4.8% of Cornerstone Investment Partners LLC’s portfolio, making the stock its largest holding. Cornerstone Investment Partners LLC’s holdings in Johnson & Johnson were worth $103,848,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Lenox Wealth Advisors Inc. grew its position in shares of Johnson & Johnson by 0.6% during the 2nd quarter. Lenox Wealth Advisors Inc. now owns 876 shares of the company’s stock worth $116,000 after purchasing an additional 5 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Johnson & Johnson by 241.0% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,190 shares of the company’s stock worth $149,000 after purchasing an additional 841 shares during the period. Ullmann Financial Group Inc. bought a new position in shares of Johnson & Johnson during the first quarter worth approximately $186,000. Taylor Wealth Management Partners increased its holdings in shares of Johnson & Johnson by 19.8% during the first quarter. Taylor Wealth Management Partners now owns 1,510 shares of the company’s stock worth $188,000 after purchasing an additional 250 shares during the period. Finally, Foundation Resource Management Inc. bought a new position in shares of Johnson & Johnson during the first quarter worth approximately $204,000. Institutional investors and hedge funds own 65.90% of the company’s stock.
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JNJ has been the topic of a number of analyst reports. J P Morgan Chase & Co increased their price target on Johnson & Johnson from $140.00 to $148.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 16th. BTIG Research lowered Johnson & Johnson from a “neutral” rating to a “sell” rating and set a $110.00 price objective on the stock. in a research note on Friday, July 21st. UBS AG reaffirmed a “buy” rating and issued a $148.00 price objective (up from $136.00) on shares of Johnson & Johnson in a report on Wednesday, July 19th. BidaskClub raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. Finally, Wells Fargo & Company reiterated a “market perform” rating and set a $135.00 target price (up from $132.00) on shares of Johnson & Johnson in a research report on Thursday, July 6th. Six equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $135.52.
In related news, VP Dominic J. Caruso sold 82,591 shares of the company’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $136.72, for a total transaction of $11,291,841.52. Following the completion of the sale, the vice president now directly owns 226,693 shares in the company, valued at approximately $30,993,466.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Paulus Stoffels sold 102,692 shares of the company’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $133.14, for a total transaction of $13,672,412.88. Following the sale, the vice president now owns 230,342 shares of the company’s stock, valued at $30,667,733.88. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.
Shares of Johnson & Johnson (NYSE JNJ) traded up 0.85% on Monday, hitting $131.12. The stock had a trading volume of 2,103,090 shares. The company has a market capitalization of $351.93 billion, a PE ratio of 22.19 and a beta of 0.78. The firm has a 50-day moving average of $132.79 and a 200 day moving average of $129.43. Johnson & Johnson has a 1-year low of $109.32 and a 1-year high of $137.08.
Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, July 18th. The company reported $1.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.79 by $0.04. Johnson & Johnson had a return on equity of 26.76% and a net margin of 22.52%. The firm had revenue of $18.84 billion during the quarter, compared to the consensus estimate of $18.94 billion. During the same quarter in the previous year, the company posted $1.74 earnings per share. The business’s revenue was up 1.9% on a year-over-year basis. On average, equities analysts anticipate that Johnson & Johnson will post $7.18 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Tuesday, August 29th were issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Friday, August 25th. Johnson & Johnson’s dividend payout ratio is 56.76%.
About Johnson & Johnson
Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of a range of products in the healthcare field. It operates through three segments: Consumer, Pharmaceutical and Medical Devices. Its primary focus is products related to human health and well-being.
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