Cornerstone Wealth Management LLC raised its stake in shares of Johnson & Johnson (NYSE:JNJ) by 4.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,603 shares of the company’s stock after buying an additional 964 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Johnson & Johnson were worth $3,346,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp boosted its position in shares of Johnson & Johnson by 0.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 36,594,054 shares of the company’s stock valued at $4,757,593,000 after acquiring an additional 130,437 shares during the last quarter. Legal & General Group Plc lifted its position in Johnson & Johnson by 1.7% in the 3rd quarter. Legal & General Group Plc now owns 14,513,649 shares of the company’s stock worth $1,886,872,000 after buying an additional 237,973 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in Johnson & Johnson by 4.6% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 12,576,360 shares of the company’s stock worth $1,757,159,000 after buying an additional 551,632 shares during the last quarter. Fisher Asset Management LLC lifted its position in Johnson & Johnson by 2.8% in the 4th quarter. Fisher Asset Management LLC now owns 12,127,379 shares of the company’s stock worth $1,694,437,000 after buying an additional 329,705 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in Johnson & Johnson by 2.0% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,207,654 shares of the company’s stock worth $1,146,773,000 after buying an additional 158,876 shares during the last quarter. Hedge funds and other institutional investors own 65.96% of the company’s stock.
Johnson & Johnson opened at $122.84 on Friday, according to Marketbeat Ratings. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.25 and a current ratio of 1.58. Johnson & Johnson has a 52-week low of $118.62 and a 52-week high of $148.32. The company has a market cap of $325.84 billion, a PE ratio of 16.83, a price-to-earnings-growth ratio of 1.86 and a beta of 0.73.
Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, April 17th. The company reported $2.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.00 by $0.06. Johnson & Johnson had a return on equity of 30.65% and a net margin of 1.58%. The firm had revenue of $20.01 billion for the quarter, compared to analysts’ expectations of $19.50 billion. During the same period in the previous year, the firm earned $1.83 earnings per share. The business’s revenue was up 12.6% compared to the same quarter last year. equities analysts anticipate that Johnson & Johnson will post 8.13 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 12th. Stockholders of record on Tuesday, May 29th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Friday, May 25th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $0.84. This represents a $3.60 annualized dividend and a dividend yield of 2.93%. Johnson & Johnson’s payout ratio is 49.32%.
A number of analysts recently weighed in on JNJ shares. TheStreet downgraded Johnson & Johnson from an “a” rating to a “c+” rating in a research report on Monday, March 26th. Jefferies Financial Group set a $165.00 target price on Johnson & Johnson and gave the stock a “buy” rating in a research report on Monday, February 26th. Zacks Investment Research upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a research report on Wednesday, April 11th. Morgan Stanley dropped their target price on Johnson & Johnson from $148.00 to $143.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 10th. Finally, Citigroup dropped their target price on Johnson & Johnson from $146.00 to $134.00 and set a “neutral” rating for the company in a research report on Monday, April 23rd. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the stock. Johnson & Johnson currently has an average rating of “Hold” and an average price target of $142.23.
Johnson & Johnson Profile
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. Its Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, RoC, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.
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