Cornerstone Advisors LLC Sells 69,200 Shares of Johnson & Johnson $JNJ

Cornerstone Advisors LLC decreased its holdings in Johnson & Johnson (NYSE:JNJ) by 66.5% in the second quarter, HoldingsChannel.com reports. The fund owned 34,802 shares of the company’s stock after selling 69,200 shares during the quarter. Cornerstone Advisors LLC’s holdings in Johnson & Johnson were worth $5,316,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. W.H. Cornerstone Investments Inc. grew its holdings in Johnson & Johnson by 0.7% during the 2nd quarter. W.H. Cornerstone Investments Inc. now owns 7,896 shares of the company’s stock valued at $1,206,000 after buying an additional 58 shares in the last quarter. Greenup Street Wealth Management LLC boosted its position in shares of Johnson & Johnson by 3.1% during the second quarter. Greenup Street Wealth Management LLC now owns 2,021 shares of the company’s stock worth $309,000 after acquiring an additional 60 shares during the last quarter. Ellis Investment Partners LLC boosted its position in shares of Johnson & Johnson by 0.7% during the second quarter. Ellis Investment Partners LLC now owns 8,559 shares of the company’s stock worth $1,307,000 after acquiring an additional 62 shares during the last quarter. Cypress Wealth Services LLC increased its holdings in Johnson & Johnson by 0.9% in the 2nd quarter. Cypress Wealth Services LLC now owns 6,634 shares of the company’s stock valued at $1,013,000 after acquiring an additional 62 shares during the last quarter. Finally, Horizon Bancorp Inc. IN increased its holdings in Johnson & Johnson by 11.2% in the 2nd quarter. Horizon Bancorp Inc. IN now owns 636 shares of the company’s stock valued at $97,000 after acquiring an additional 64 shares during the last quarter. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

NYSE:JNJ opened at $196.00 on Monday. The firm has a market capitalization of $472.22 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 2.19 and a beta of 0.38. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.07 and a quick ratio of 0.80. The business has a 50 day simple moving average of $185.81 and a 200-day simple moving average of $170.14. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $197.18.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. The company had revenue of $24.02 billion for the quarter. Johnson & Johnson had a return on equity of 32.73% and a net margin of 27.26%. Equities analysts forecast that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 25th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.7%. Johnson & Johnson’s payout ratio is currently 50.19%.

Insider Buying and Selling

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $177.81, for a total value of $10,041,108.51. Following the sale, the executive vice president directly owned 178,013 shares of the company’s stock, valued at $31,652,491.53. This represents a 24.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Citigroup raised their price objective on Johnson & Johnson from $213.00 to $215.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Guggenheim upgraded Johnson & Johnson from a “neutral” rating to a “buy” rating and raised their price target for the company from $167.00 to $206.00 in a report on Tuesday, September 23rd. JPMorgan Chase & Co. lifted their price objective on Johnson & Johnson from $185.00 to $200.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 16th. Daiwa America upgraded Johnson & Johnson from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Finally, Johnson Rice set a $190.00 price target on shares of Johnson & Johnson and gave the stock a “hold” rating in a research report on Wednesday, October 22nd. Four research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $201.05.

About Johnson & Johnson

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.