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

Cornerstone Wealth Group LLC raised its stake in shares of Johnson & Johnson (NYSE:JNJ) by 1.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,977 shares of the company’s stock after acquiring an additional 687 shares during the period. Cornerstone Wealth Group LLC’s holdings in Johnson & Johnson were worth $8,585,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. International Assets Investment Management LLC raised its position in Johnson & Johnson by 20,130.0% in the third quarter. International Assets Investment Management LLC now owns 3,454,473 shares of the company’s stock valued at $559,832,000 after purchasing an additional 3,437,397 shares during the period. Marshall Wace LLP grew its stake in shares of Johnson & Johnson by 506.9% in the second quarter. Marshall Wace LLP now owns 3,884,962 shares of the company’s stock valued at $567,826,000 after buying an additional 3,244,862 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Johnson & Johnson by 16.8% in the 1st 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 buying an additional 3,139,499 shares during the period. Ninety One UK Ltd boosted its holdings in Johnson & Johnson by 59.0% during the 2nd quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock valued at $980,579,000 after acquiring an additional 2,489,925 shares during the period. Finally, Swedbank AB acquired a new position in Johnson & Johnson in the 1st quarter valued at about $331,178,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock opened at $159.86 on Friday. The firm has a market capitalization of $384.88 billion, a P/E ratio of 23.13, a P/E/G ratio of 2.90 and a beta of 0.52. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85. The firm’s 50 day moving average is $163.39 and its two-hundred day moving average is $155.35.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.46%. The firm had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. During the same period last year, the business earned $2.66 EPS. Johnson & Johnson’s revenue for the quarter was up 5.2% compared to the same quarter last year. Research analysts forecast that Johnson & Johnson will post 9.94 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be paid a dividend of $1.24 per share. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a yield of 3.10%. Johnson & Johnson’s dividend payout ratio is presently 71.78%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Citigroup raised their price objective on shares of Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Daiwa Capital Markets cut Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $160.00 to $150.00 in a research note on Tuesday, July 23rd. TD Cowen cut their price target on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Finally, Wells Fargo & Company lifted their price objective on Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $175.93.

Insiders Place Their Bets

In other news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the transaction, the vice president now directly owns 18,973 shares in the company, valued at approximately $3,131,683.38. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.16% of the stock is currently owned by corporate insiders.

Johnson & Johnson Company Profile

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.