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

Cornerstone Wealth Management LLC lifted its stake in Johnson & Johnson (NYSE:JNJ) by 5.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm 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 reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Christopher J. Hasenberg Inc bought a new stake in shares of Johnson & Johnson during the 1st quarter worth approximately $31,000. Keener Financial Planning LLC bought a new stake in Johnson & Johnson during the 4th quarter valued at $40,000. WFA Asset Management Corp raised its position in shares of Johnson & Johnson by 61.4% in the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after acquiring an additional 97 shares in the last quarter. Vermillion & White Wealth Management Group LLC bought a new position in shares of Johnson & Johnson in the 4th quarter worth $44,000. Finally, Disciplined Equity Management Inc. purchased a new position in Johnson & Johnson during the 4th quarter worth $45,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

JNJ stock traded up $0.15 during mid-day trading on Thursday, reaching $158.63. 2,144,029 shares of the company’s stock were exchanged, compared to its average volume of 7,323,737. The company has a market cap of $381.77 billion, a price-to-earnings ratio of 9.90, a price-to-earnings-growth ratio of 2.63 and a beta of 0.52. The stock’s 50 day moving average is $151.88 and its 200 day moving average is $153.10. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $175.39.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, beating 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 business 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 business posted $2.80 earnings per share. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, research analysts expect that Johnson & Johnson will post 10.07 EPS for the current year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th will be paid a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.13%. Johnson & Johnson’s payout ratio is presently 30.92%.

Analysts Set New Price Targets

JNJ has been the topic of several research analyst reports. Daiwa Capital Markets downgraded Johnson & Johnson from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $160.00 to $150.00 in a research note on Tuesday, July 23rd. The Goldman Sachs Group dropped their target price on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Bank of America dropped their price target on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. StockNews.com downgraded Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research note on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and seven have assigned a 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 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.