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

Cornerstone Wealth Group LLC boosted its stake in shares of Johnson & Johnson (NYSE:JNJ) by 63.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,737 shares of the company’s stock after buying an additional 20,446 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Johnson & Johnson were worth $8,343,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Keener Financial Planning LLC bought a new stake in shares of Johnson & Johnson in the 4th quarter valued at about $40,000. WFA Asset Management Corp grew 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 buying an additional 97 shares during the last quarter. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Johnson & Johnson in the 4th quarter worth approximately $44,000. Disciplined Equity Management Inc. purchased a new position in shares of Johnson & Johnson in the 4th quarter worth approximately $45,000. Finally, Grayhawk Investment Strategies Inc. grew its position in shares of Johnson & Johnson by 528.6% in the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after buying an additional 259 shares during the last quarter. Institutional investors own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

JNJ has been the topic of several research analyst reports. HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and boosted their target price for the stock from $169.00 to $170.00 in a research report on Thursday, April 18th. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Monday. Bank of America dropped their target price on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Finally, Morgan Stanley dropped their target price on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. Eight analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus price target of $174.07.

Johnson & Johnson Stock Performance

JNJ opened at $146.42 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94. The firm has a fifty day moving average price of $148.14 and a 200 day moving average price of $154.05. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $175.97. The stock has a market cap of $352.39 billion, a P/E ratio of 9.13, a P/E/G ratio of 2.43 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. The company had revenue of $21.38 billion during the quarter, compared to analysts’ expectations of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.68 earnings per share. Equities research analysts anticipate that Johnson & Johnson will post 10.62 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were given a dividend of $1.24 per share. The ex-dividend date was Monday, May 20th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 dividend on an annualized basis and a yield of 3.39%. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

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.