Cornerstone Wealth Management LLC Acquires 2,007 Shares of Johnson & Johnson (NYSE:JNJ)

Cornerstone Wealth Management LLC grew its position in Johnson & Johnson (NYSE:JNJ) by 5.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,109 shares of the company’s stock after purchasing an additional 2,007 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Johnson & Johnson were worth $6,661,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Kovack Advisors Inc. boosted its position in shares of Johnson & Johnson by 9.4% in the first quarter. Kovack Advisors Inc. now owns 32,041 shares of the company’s stock worth $5,069,000 after purchasing an additional 2,759 shares during the period. Massachusetts Wealth Management lifted its holdings in shares of Johnson & Johnson by 1.4% in the first quarter. Massachusetts Wealth Management now owns 17,572 shares of the company’s stock worth $2,780,000 after buying an additional 250 shares in the last quarter. Pachira Investments Inc. lifted its holdings in shares of Johnson & Johnson by 6.4% in the first quarter. Pachira Investments Inc. now owns 4,353 shares of the company’s stock worth $689,000 after buying an additional 262 shares in the last quarter. Abundance Wealth Counselors lifted its holdings in shares of Johnson & Johnson by 1.5% in the first quarter. Abundance Wealth Counselors now owns 9,629 shares of the company’s stock worth $1,523,000 after buying an additional 144 shares in the last quarter. Finally, Norden Group LLC lifted its holdings in shares of Johnson & Johnson by 3,299.8% in the first quarter. Norden Group LLC now owns 307,714 shares of the company’s stock worth $48,675,000 after buying an additional 298,663 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Trading Up 0.5 %

JNJ stock opened at $146.48 on Friday. The firm’s fifty day simple moving average is $147.94 and its two-hundred day simple moving average is $153.73. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $352.53 billion, a price-to-earnings ratio of 9.13, a price-to-earnings-growth ratio of 2.42 and a beta of 0.52. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $175.97.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. The firm had revenue of $21.38 billion for 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 business’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. As a group, analysts anticipate that Johnson & Johnson will post 10.62 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were issued a $1.24 dividend. 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 dividend yield of 3.39%. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. The Goldman Sachs Group assumed coverage on shares of Johnson & Johnson in a report on Thursday, May 30th. They issued a “neutral” rating and a $160.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Monday, July 1st. 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 report on Thursday, April 18th. Bank of America decreased their price target on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price target on shares of Johnson & Johnson in a research note on Monday, June 17th. Eight equities research 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 company. Based on data from MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.07.

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.