Cherrydale Wealth Management LLC Makes New Investment in Johnson & Johnson (NYSE:JNJ)

Cherrydale Wealth Management LLC purchased a new position in shares of Johnson & Johnson (NYSE:JNJ) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,003 shares of the company’s stock, valued at approximately $325,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Innealta Capital LLC acquired a new stake in shares of Johnson & Johnson in the second quarter valued at approximately $27,000. MFA Wealth Advisors LLC acquired a new position in shares of Johnson & Johnson in the second quarter worth $43,000. Fairfield Financial Advisors LTD purchased a new stake in shares of Johnson & Johnson in the second quarter valued at $46,000. Grayhawk Investment Strategies Inc. increased its position in Johnson & Johnson by 528.6% during the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after purchasing an additional 259 shares in the last quarter. Finally, Fairway Wealth LLC boosted its stake in shares of Johnson & Johnson by 217.1% during the 2nd quarter. Fairway Wealth LLC now owns 333 shares of the company’s stock worth $49,000 after purchasing an additional 228 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on JNJ. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Thursday. TD Securities lowered their price objective on Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Daiwa Capital Markets lowered Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $160.00 to $150.00 in a research note on Tuesday, July 23rd. TD Cowen dropped their price objective on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Finally, Morgan Stanley raised their target price on shares of Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Six equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and an average target price of $174.31.

Insider Buying and Selling at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the sale, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by insiders.

Johnson & Johnson Stock Down 0.2 %

NYSE JNJ traded down $0.25 during trading hours on Monday, hitting $161.21. The company had a trading volume of 355,086 shares, compared to its average volume of 7,005,770. The firm’s 50 day moving average is $162.59 and its 200 day moving average is $154.46. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $168.85. The company has a market capitalization of $387.98 billion, a price-to-earnings ratio of 10.07, a P/E/G ratio of 2.65 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.11. The firm had revenue of $22.45 billion for the quarter, compared to the consensus estimate of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.80 EPS. Sell-side analysts anticipate that Johnson & Johnson will post 10 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were issued a $1.24 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 3.08%. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

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.