Cornerstone Advisors LLC Buys 5,400 Shares of Johnson & Johnson (NYSE:JNJ)

Cornerstone Advisors LLC lifted its position in Johnson & Johnson (NYSE:JNJ) by 4.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 120,102 shares of the company’s stock after purchasing an additional 5,400 shares during the quarter. Johnson & Johnson accounts for approximately 0.8% of Cornerstone Advisors LLC’s holdings, making the stock its 28th biggest holding. Cornerstone Advisors LLC’s holdings in Johnson & Johnson were worth $19,464,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in Johnson & Johnson during the 2nd quarter worth about $27,000. Highline Wealth Partners LLC bought a new position in Johnson & Johnson in the 3rd quarter worth approximately $31,000. Mowery & Schoenfeld Wealth Management LLC lifted its holdings in Johnson & Johnson by 58.7% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after buying an additional 91 shares in the last quarter. Morton Brown Family Wealth LLC boosted its position in Johnson & Johnson by 400.0% in the 3rd quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock valued at $41,000 after buying an additional 200 shares during the last quarter. Finally, MFA Wealth Advisors LLC bought a new stake in shares of Johnson & Johnson during the second quarter worth $43,000. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $153.10 on Thursday. The company has a market capitalization of $368.59 billion, a P/E ratio of 22.16, a price-to-earnings-growth ratio of 2.72 and a beta of 0.53. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03. The company’s 50 day moving average price is $160.59 and its two-hundred day moving average price is $156.17.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.21 by $0.21. The business had revenue of $22.47 billion for the quarter, compared to analysts’ expectations of $22.17 billion. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.66 EPS. On average, analysts expect that Johnson & Johnson will post 9.93 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio is presently 71.78%.

Insider Buying and Selling at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the sale, the vice president now directly owns 18,973 shares in the company, valued at $3,131,683.38. This trade represents a 22.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

JNJ has been the subject of several recent research reports. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a report on Wednesday, October 16th. Morgan Stanley raised their price target on Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Guggenheim increased their target price on Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Finally, Citigroup boosted their target price on Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Johnson & Johnson presently has an average rating of “Moderate Buy” and an average price target of $175.94.

Johnson & Johnson 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.