Cornerstone Capital Inc. Has $18.71 Million Stake in Johnson & Johnson (NYSE:JNJ)

Cornerstone Capital Inc. trimmed its position in shares of Johnson & Johnson (NYSE:JNJ) by 17.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 115,477 shares of the company’s stock after selling 25,229 shares during the quarter. Johnson & Johnson makes up about 1.7% of Cornerstone Capital Inc.’s investment portfolio, making the stock its 26th largest holding. Cornerstone Capital Inc.’s holdings in Johnson & Johnson were worth $18,714,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Falcon Wealth Planning lifted its holdings in Johnson & Johnson by 5.9% in the 3rd quarter. Falcon Wealth Planning now owns 2,852 shares of the company’s stock worth $462,000 after purchasing an additional 158 shares during the last quarter. Crestwood Advisors Group LLC lifted its holdings in Johnson & Johnson by 1.0% in the 3rd quarter. Crestwood Advisors Group LLC now owns 391,942 shares of the company’s stock worth $63,518,000 after purchasing an additional 3,701 shares during the last quarter. Global Wealth Management Investment Advisory Inc. lifted its holdings in Johnson & Johnson by 7.9% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 31,786 shares of the company’s stock worth $5,151,000 after purchasing an additional 2,325 shares during the last quarter. Heritage Investors Management Corp lifted its holdings in Johnson & Johnson by 0.9% in the 3rd quarter. Heritage Investors Management Corp now owns 173,223 shares of the company’s stock worth $28,073,000 after purchasing an additional 1,623 shares during the last quarter. Finally, Hanlon Investment Management Inc. lifted its holdings in Johnson & Johnson by 12.5% in the 3rd quarter. Hanlon Investment Management Inc. now owns 2,311 shares of the company’s stock worth $375,000 after purchasing an additional 257 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Stock Performance

Shares of NYSE:JNJ opened at $158.35 on Wednesday. The business’s fifty day moving average price is $163.09 and its two-hundred day moving average price is $155.75. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $168.85. The stock has a market capitalization of $381.25 billion, a price-to-earnings ratio of 22.92, a price-to-earnings-growth ratio of 2.84 and a beta of 0.53. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The firm had revenue of $22.47 billion for the quarter, compared to analysts’ expectations of $22.17 billion. During the same period in the prior year, the business posted $2.66 earnings per share. The business’s revenue was up 5.2% compared to the same quarter last year. As a group, analysts predict that Johnson & Johnson will post 9.94 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is 71.78%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Wednesday, October 16th. Daiwa Capital Markets lowered Johnson & Johnson from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $160.00 to $150.00 in a report on Tuesday, July 23rd. Daiwa America lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Wells Fargo & Company upped their price target on Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group cut their price target on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and a consensus price target of $175.93.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the transaction, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson Company Profile

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.