Cornerstone Wealth Group LLC Has $8.34 Million Position in Johnson & Johnson (NYSE:JNJ)

Cornerstone Wealth Group LLC increased its stake in Johnson & Johnson (NYSE:JNJ) by 63.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 52,737 shares of the company’s stock after purchasing an additional 20,446 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Johnson & Johnson were worth $8,343,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in JNJ. Keener Financial Planning LLC bought a new stake in shares of Johnson & Johnson during the fourth quarter valued at approximately $40,000. WFA Asset Management Corp increased its position in shares of Johnson & Johnson by 61.4% during the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after purchasing an additional 97 shares during the period. Vermillion & White Wealth Management Group LLC acquired a new stake in Johnson & Johnson in the 4th quarter valued at $44,000. Disciplined Equity Management Inc. acquired a new stake in Johnson & Johnson in the 4th quarter valued at $45,000. Finally, Grayhawk Investment Strategies Inc. boosted its stake in Johnson & Johnson by 528.6% in the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock valued at $48,000 after buying an additional 259 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on JNJ shares. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Sunday. HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and boosted their price target for the company from $169.00 to $170.00 in a research note on Thursday, April 18th. Morgan Stanley reduced their price objective on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. The Goldman Sachs Group started coverage on Johnson & Johnson in a research note on Thursday, May 30th. They issued a “neutral” rating and a $160.00 price objective on the stock. Finally, Bank of America reduced their price objective on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $174.07.

Johnson & Johnson Trading Up 0.2 %

NYSE JNJ opened at $146.42 on Tuesday. The stock has a 50-day simple moving average of $148.14 and a 200 day simple moving average of $154.05. The company has a market capitalization of $352.39 billion, a PE ratio of 9.13, a P/E/G ratio of 2.43 and a beta of 0.52. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97.

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

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were issued a $1.24 dividend. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a dividend yield of 3.39%. The ex-dividend date was Monday, May 20th. Johnson & Johnson’s dividend payout ratio is 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.