Cornerstone Capital Inc. Sells 4,378 Shares of Johnson & Johnson (NYSE:JNJ)

Cornerstone Capital Inc. reduced its stake in Johnson & Johnson (NYSE:JNJ) by 2.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 145,355 shares of the company’s stock after selling 4,378 shares during the period. Johnson & Johnson accounts for 2.5% of Cornerstone Capital Inc.’s holdings, making the stock its 14th biggest holding. Cornerstone Capital Inc.’s holdings in Johnson & Johnson were worth $22,783,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Tower View Wealth Management LLC raised its holdings in Johnson & Johnson by 183.3% during the third quarter. Tower View Wealth Management LLC now owns 255 shares of the company’s stock worth $40,000 after buying an additional 165 shares during the last quarter. Keener Financial Planning LLC acquired a new stake in shares of Johnson & Johnson in the 4th quarter worth about $40,000. WFA Asset Management Corp lifted its position in Johnson & Johnson by 61.4% in the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after acquiring an additional 97 shares in the last quarter. Creative Capital Management Investments LLC boosted its stake in Johnson & Johnson by 43.0% during the 3rd quarter. Creative Capital Management Investments LLC now owns 286 shares of the company’s stock valued at $45,000 after purchasing an additional 86 shares during the last quarter. Finally, Disciplined Equity Management Inc. bought a new stake in Johnson & Johnson during the 4th quarter worth approximately $45,000. Institutional investors own 69.55% of the company’s stock.

Insider Buying and Selling at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 59,397 shares of Johnson & Johnson stock in a transaction on Friday, February 9th. The stock was sold at an average price of $156.27, for a total value of $9,281,969.19. Following the completion of the transaction, the executive vice president now directly owns 141,416 shares in the company, valued at $22,099,078.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Jennifer L. Taubert sold 59,397 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the completion of the transaction, the executive vice president now owns 141,416 shares of the company’s stock, valued at $22,099,078.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder & Johnson Johnson sold 3,725 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $25.81, for a total transaction of $96,142.25. Following the completion of the transaction, the insider now directly owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $151.16 on Thursday. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $175.97. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.16 and a quick ratio of 0.91. The stock’s fifty day moving average price is $154.65 and its two-hundred day moving average price is $155.11. The firm has a market cap of $364.26 billion, a PE ratio of 9.42, a PEG ratio of 2.42 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.07. The business had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.39 billion. Johnson & Johnson had a return on equity of 36.43% and a net margin of 45.26%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.68 EPS. On average, equities research analysts forecast that Johnson & Johnson will post 10.65 EPS for the current year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be paid a $1.24 dividend. 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 is Monday, May 20th. Johnson & Johnson’s payout ratio is currently 29.68%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on JNJ. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 6th. HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and upped their target price for the stock from $169.00 to $170.00 in a research note on Thursday, April 18th. Morgan Stanley dropped their price target on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research report on Monday, April 15th. Finally, Bank of America dropped their target price on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Seven 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $175.86.

Johnson & Johnson 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.