Cornerstone Advisors LLC Acquires 3,300 Shares of Johnson & Johnson (NYSE:JNJ)

Cornerstone Advisors LLC increased its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 123,402 shares of the company’s stock after acquiring an additional 3,300 shares during the quarter. Cornerstone Advisors LLC’s holdings in Johnson & Johnson were worth $17,846,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of JNJ. Raymond James Financial Inc. bought a new stake in shares of Johnson & Johnson in the fourth quarter valued at $1,339,878,000. Janus Henderson Group PLC raised its stake in shares of Johnson & Johnson by 228.1% in the third quarter. Janus Henderson Group PLC now owns 3,389,361 shares of the company’s stock valued at $549,223,000 after buying an additional 2,356,359 shares during the period. Franklin Resources Inc. raised its stake in shares of Johnson & Johnson by 11.4% in the third 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 during the period. Amundi raised its stake in shares of Johnson & Johnson by 16.2% in the fourth quarter. Amundi now owns 11,930,183 shares of the company’s stock valued at $1,698,984,000 after buying an additional 1,660,458 shares during the period. Finally, Holocene Advisors LP bought a new stake in shares of Johnson & Johnson in the third quarter valued at $225,040,000. 69.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on JNJ. Wells Fargo & Company lowered their target price on Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Guggenheim restated a “neutral” rating on shares of Johnson & Johnson in a research note on Monday. Morgan Stanley decreased their price objective on Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Barclays boosted their price objective on Johnson & Johnson from $159.00 to $166.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 28th. Finally, Leerink Partners decreased their price objective 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 investment 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 company’s stock. According to data from MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and a consensus target price of $171.33.

Insider Buying and Selling

In related news, EVP Timothy Schmid sold 403 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total value of $62,928.45. Following the sale, the executive vice president now owns 15,098 shares in the company, valued at $2,357,552.70. This represents a 2.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mark A. Weinberger bought 1,000 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were acquired at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the completion of the purchase, the director now owns 1,000 shares in the company, valued at approximately $147,220. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 0.16% of the stock is currently owned by company insiders.

Johnson & Johnson Price Performance

JNJ opened at $167.57 on Tuesday. The stock has a 50-day moving average price of $153.44 and a 200-day moving average price of $156.28. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $169.99. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $403.45 billion, a P/E ratio of 25.20, a PEG ratio of 2.56 and a beta of 0.47.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.05. The company had revenue of $22.52 billion during the quarter, compared to analyst estimates of $22.44 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. Johnson & Johnson’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.29 EPS. Equities analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were given a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend was Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio is currently 74.59%.

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.