Cornerstone Wealth Management LLC Has $7.68 Million Position in Johnson & Johnson (NYSE:JNJ)

Cornerstone Wealth Management LLC boosted its position in Johnson & Johnson (NYSE:JNJ) by 6.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,372 shares of the company’s stock after purchasing an additional 2,807 shares during the period. Cornerstone Wealth Management LLC’s holdings in Johnson & Johnson were worth $7,677,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in JNJ. Innealta Capital LLC acquired a new position in Johnson & Johnson during the 2nd quarter worth approximately $27,000. MFA Wealth Advisors LLC bought a new stake in shares of Johnson & Johnson during the 2nd quarter worth $43,000. Fairfield Financial Advisors LTD purchased a new position in Johnson & Johnson in the second quarter valued at about $46,000. Fairway Wealth LLC increased its position in Johnson & Johnson by 217.1% in the second quarter. Fairway Wealth LLC now owns 333 shares of the company’s stock worth $49,000 after buying an additional 228 shares during the last quarter. Finally, Quarry LP bought a new stake in shares of Johnson & Johnson in the second quarter valued at approximately $49,000. Institutional investors own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on JNJ shares. Daiwa Capital Markets downgraded Johnson & Johnson from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $160.00 to $150.00 in a research note on Tuesday, July 23rd. TD Cowen reduced their price objective on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Royal Bank of Canada upped their price target on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research report on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Wednesday. Finally, TD Securities lowered their price target on Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and a consensus price target of $175.93.

Insider Transactions at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the sale, the vice president now directly owns 18,973 shares in the company, valued at approximately $3,131,683.38. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Price Performance

NYSE JNJ opened at $164.28 on Thursday. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $395.37 billion, a P/E ratio of 10.24, a P/E/G ratio of 2.65 and a beta of 0.52. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85. The firm’s fifty day simple moving average is $162.81 and its two-hundred day simple moving average is $154.59.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The firm had revenue of $22.47 billion for the quarter, compared to the consensus estimate of $22.17 billion. During the same period in the prior year, the firm earned $2.66 EPS. The firm’s revenue was up 5.2% on a year-over-year basis. Analysts forecast that Johnson & Johnson will post 10 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm 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 $1.24 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 annualized dividend and a dividend yield of 3.02%. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

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.