Cornerstone Wealth Management LLC Increases Stake in Johnson & Johnson (NYSE:JNJ)

Cornerstone Wealth Management LLC increased its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 4.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,706 shares of the company's stock after acquiring an additional 1,971 shares during the period. Cornerstone Wealth Management LLC's holdings in Johnson & Johnson were worth $8,575,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Tallon Kerry Patrick acquired a new stake in shares of Johnson & Johnson in the 4th quarter valued at $290,000. Capital & Planning LLC raised its holdings in Johnson & Johnson by 13.6% during the fourth quarter. Capital & Planning LLC now owns 1,528 shares of the company's stock worth $221,000 after purchasing an additional 183 shares in the last quarter. Brighton Jones LLC lifted its position in shares of Johnson & Johnson by 13.9% during the 4th quarter. Brighton Jones LLC now owns 51,876 shares of the company's stock worth $7,502,000 after buying an additional 6,332 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new stake in Johnson & Johnson in the fourth quarter valued at $85,886,000. Finally, BXM Wealth LLC acquired a new position in Johnson & Johnson in the fourth quarter valued at $799,000. Hedge funds and other institutional investors own 69.55% of the company's stock.

Analyst Upgrades and Downgrades

JNJ has been the topic of a number of research reports. Wall Street Zen downgraded Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. The Goldman Sachs Group upgraded shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and increased their target price for the stock from $157.00 to $172.00 in a research note on Wednesday, April 9th. Benchmark raised Johnson & Johnson to a "strong-buy" rating in a report on Thursday, April 24th. Royal Bank Of Canada reissued an "outperform" rating and issued a $181.00 price objective on shares of Johnson & Johnson in a research note on Thursday, June 5th. Finally, Sanford C. Bernstein reissued a "market perform" rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Eleven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $170.88.

Johnson & Johnson Trading Down 1.1%

NYSE:JNJ opened at $150.77 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.26 and a debt-to-equity ratio of 0.49. The stock has a fifty day simple moving average of $154.06 and a 200-day simple moving average of $153.67. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $169.99. The company has a market capitalization of $362.76 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 2.31 and a beta of 0.42.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, topping analysts' consensus estimates of $2.59 by $0.18. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. The business had revenue of $21.89 billion during the quarter, compared to analysts' expectations of $21.65 billion. On average, equities research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend was Tuesday, May 27th. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.24. Johnson & Johnson's payout ratio is currently 57.84%.

Johnson & Johnson 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.

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