Cushing Capital Partners LLC Takes $310,000 Position in Johnson & Johnson (NYSE:JNJ)

Cushing Capital Partners LLC purchased a new stake in Johnson & Johnson (NYSE:JNJ) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,147 shares of the company’s stock, valued at approximately $310,000.

Several other hedge funds also recently modified their holdings of the company. State Street Corp lifted its holdings in Johnson & Johnson by 0.9% during the 3rd quarter. State Street Corp now owns 134,245,811 shares of the company’s stock worth $21,755,874,000 after buying an additional 1,154,088 shares during the period. Geode Capital Management LLC lifted its stake in shares of Johnson & Johnson by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 56,106,884 shares of the company’s stock valued at $9,064,149,000 after purchasing an additional 1,004,763 shares during the period. FMR LLC lifted its stake in shares of Johnson & Johnson by 7.4% in the 3rd quarter. FMR LLC now owns 18,316,920 shares of the company’s stock valued at $2,968,440,000 after purchasing an additional 1,265,748 shares during the period. Charles Schwab Investment Management Inc. increased its position in Johnson & Johnson by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,187,082 shares of the company’s stock valued at $2,630,216,000 after buying an additional 547,714 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in Johnson & Johnson by 11.4% in the 3rd quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock valued at $2,721,355,000 after buying an additional 1,729,281 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Guggenheim reissued a “neutral” rating on shares of Johnson & Johnson in a report on Monday. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 25th. Wells Fargo & Company dropped their target price on Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Argus raised shares of Johnson & Johnson to a “strong-buy” rating in a report on Friday, January 24th. Finally, Leerink Partners reduced their target price on Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $171.33.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $167.57 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.11 and a quick ratio of 0.86. Johnson & Johnson has a one year low of $140.68 and a one year high of $169.99. The company has a 50-day simple moving average of $153.44 and a two-hundred day simple moving average of $156.28. The firm has a market capitalization of $403.45 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 2.56 and a beta of 0.47.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.99 by $0.05. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The business had revenue of $22.52 billion during the quarter, compared to analyst estimates of $22.44 billion. During the same period last year, the business posted $2.29 earnings per share. Johnson & Johnson’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were issued a $1.24 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $4.96 annualized dividend and a yield of 2.96%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 74.59%.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, Director Mark A. Weinberger bought 1,000 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was acquired at an average price of $147.22 per share, with a total value of $147,220.00. Following the completion of the purchase, the director now owns 1,000 shares of the company’s stock, valued at approximately $147,220. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Robert J. Decker sold 6,999 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the transaction, the vice president now directly owns 21,001 shares of the company’s stock, valued at $3,483,645.88. This represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Company Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.