Johnson & Johnson (NYSE:JNJ) Shares Sold by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC lessened its position in shares of Johnson & Johnson (NYSE:JNJ) by 0.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 52,290 shares of the company’s stock after selling 447 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Johnson & Johnson were worth $7,643,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Christopher J. Hasenberg Inc acquired a new stake in shares of Johnson & Johnson in the first quarter valued at approximately $31,000. WFA Asset Management Corp grew its holdings in Johnson & Johnson by 61.4% during the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after buying an additional 97 shares during the last quarter. Vermillion & White Wealth Management Group LLC purchased a new position in Johnson & Johnson during the fourth quarter worth $44,000. Disciplined Equity Management Inc. acquired a new position in shares of Johnson & Johnson in the fourth quarter worth $45,000. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of Johnson & Johnson in the second quarter valued at $43,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on JNJ. Daiwa America cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Daiwa Capital Markets downgraded shares of 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. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Monday, August 5th. The Goldman Sachs Group cut their price target on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Finally, TD Cowen decreased their price objective on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and an average target price of $173.21.

Johnson & Johnson Trading Up 1.1 %

Shares of NYSE:JNJ traded up $1.78 during trading on Friday, reaching $164.13. 7,093,429 shares of the stock were exchanged, compared to its average volume of 7,299,449. The firm’s 50-day moving average price is $153.92 and its 200 day moving average price is $153.27. The firm has a market cap of $395.01 billion, a price-to-earnings ratio of 10.23, a price-to-earnings-growth ratio of 2.63 and a beta of 0.52. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $167.78. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The company had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. During the same period in the previous year, the firm earned $2.80 earnings per share. Johnson & Johnson’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, sell-side analysts anticipate that Johnson & Johnson will post 10.07 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend is Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

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.