Johnson & Johnson (NYSE:JNJ) Shares Sold by Cornerstone Advisors LLC

Cornerstone Advisors LLC decreased its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 5.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 115,402 shares of the company's stock after selling 7,098 shares during the quarter. Johnson & Johnson accounts for about 0.8% of Cornerstone Advisors LLC's portfolio, making the stock its 27th largest position. Cornerstone Advisors LLC's holdings in Johnson & Johnson were worth $18,088,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Johnson & Johnson during the fourth quarter worth about $4,071,642,000. Charles Schwab Investment Management Inc. lifted its stake in Johnson & Johnson by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,945,533 shares of the company's stock valued at $2,483,532,000 after buying an additional 241,799 shares in the last quarter. California Public Employees Retirement System increased its position in shares of Johnson & Johnson by 4.9% during the fourth quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company's stock worth $1,664,620,000 after acquiring an additional 498,647 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Johnson & Johnson by 10.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,169,190 shares of the company's stock worth $1,593,908,000 after purchasing an additional 975,485 shares during the period. Finally, Raymond James & Associates increased its holdings in Johnson & Johnson by 0.4% during the 4th quarter. Raymond James & Associates now owns 6,061,707 shares of the company's stock worth $950,112,000 after purchasing an additional 26,982 shares in the last quarter. 69.55% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on JNJ shares. Bank of America reduced their target price on shares of Johnson & Johnson from $180.00 to $170.00 and set a "neutral" rating for the company in a report on Wednesday, April 17th. Morgan Stanley cut their price objective on Johnson & Johnson from $168.00 to $167.00 and set an "equal weight" rating for the company in a report on Wednesday, April 17th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $175.00 price target on shares of Johnson & Johnson in a research report on Thursday, May 16th. Cantor Fitzgerald restated an "overweight" rating and set a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday, May 6th. Finally, StockNews.com upgraded Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a report on Tuesday, February 6th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Johnson & Johnson presently has an average rating of "Moderate Buy" and a consensus target price of $175.86.

Johnson & Johnson Price Performance

Shares of JNJ stock traded down $0.02 on Tuesday, reaching $151.25. The company had a trading volume of 5,492,167 shares, compared to its average volume of 7,362,521. Johnson & Johnson has a one year low of $143.13 and a one year high of $175.97. 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 $364.01 billion, a PE ratio of 9.43, a price-to-earnings-growth ratio of 2.55 and a beta of 0.55. The business's 50-day moving average is $151.88 and its 200 day moving average is $155.12.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, beating analysts' consensus estimates of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The company had revenue of $21.38 billion during the quarter, compared to analysts' expectations of $21.39 billion. During the same period in the prior year, the company earned $2.68 EPS. Johnson & Johnson's revenue was up 2.3% compared to the same quarter last year. Equities research analysts forecast that Johnson & Johnson will post 10.64 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st will be issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.28%. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.19. The ex-dividend date of this dividend is Monday, May 20th. Johnson & Johnson's payout ratio is presently 29.68%.

About Johnson & Johnson

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.