Cornerstone Wealth Group LLC Decreases Position in Johnson & Johnson (NYSE:JNJ)

Cornerstone Wealth Group LLC lowered its stake in shares of Johnson & Johnson (NYSE:JNJ) by 2.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,435 shares of the company’s stock after selling 666 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Johnson & Johnson were worth $3,886,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Tallon Kerry Patrick purchased a new position in shares of Johnson & Johnson in the 4th quarter valued at about $290,000. Brighton Jones LLC increased its position in shares of Johnson & Johnson by 13.9% during the fourth quarter. Brighton Jones LLC now owns 51,876 shares of the company’s stock worth $7,502,000 after purchasing an additional 6,332 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of Johnson & Johnson in the 4th quarter valued at about $85,886,000. Hudson Value Partners LLC increased its holdings in shares of Johnson & Johnson by 2.5% in the 4th quarter. Hudson Value Partners LLC now owns 41,403 shares of the company’s stock valued at $5,648,000 after acquiring an additional 1,022 shares during the period. Finally, Matauro LLC purchased a new position in Johnson & Johnson during the 4th quarter worth $278,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on JNJ. Guggenheim reaffirmed a “neutral” rating on shares of Johnson & Johnson in a report on Wednesday, April 2nd. Wall Street Zen raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 21st. Leerink Partners lowered 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 report on Tuesday, May 13th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $181.00 price target on shares of Johnson & Johnson in a report on Thursday, June 5th. Eleven investment analysts have rated the stock with a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $170.88.

Johnson & Johnson Trading Up 0.1%

NYSE:JNJ opened at $152.33 on Thursday. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $169.99. The company has a quick ratio of 1.03, a current ratio of 1.26 and a debt-to-equity ratio of 0.49. The stock has a fifty day simple moving average of $153.95 and a 200-day simple moving average of $153.67. The company has a market capitalization of $366.52 billion, a PE ratio of 16.94, a price-to-earnings-growth ratio of 2.31 and a beta of 0.42.

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

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend was Tuesday, May 27th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.24. Johnson & Johnson’s dividend payout ratio is 57.84%.

Johnson & Johnson Company 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.