Cornerstone Wealth Management LLC raised its holdings in Johnson & Johnson (NYSE:JNJ) by 10,307.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,497,098 shares of the company’s stock after buying an additional 2,473,105 shares during the quarter. Cornerstone Wealth Management LLC owned about 0.09% of Johnson & Johnson worth $20,537,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Johnson & Johnson by 4.7% in the 1st quarter. BlackRock Inc. now owns 175,389,024 shares of the company’s stock valued at $22,476,102,000 after purchasing an additional 7,853,141 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Johnson & Johnson by 2.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 29,761,934 shares of the company’s stock valued at $3,813,993,000 after purchasing an additional 590,069 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Johnson & Johnson by 3.8% in the 2nd quarter. Fisher Asset Management LLC now owns 13,118,604 shares of the company’s stock valued at $1,591,811,000 after purchasing an additional 478,982 shares during the period. Boston Partners lifted its stake in shares of Johnson & Johnson by 68.7% in the 1st quarter. Boston Partners now owns 12,783,909 shares of the company’s stock valued at $1,638,258,000 after purchasing an additional 5,207,124 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Johnson & Johnson by 4.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,590,694 shares of the company’s stock valued at $1,100,897,000 after purchasing an additional 383,040 shares during the period. Hedge funds and other institutional investors own 66.67% of the company’s stock.
A number of research analysts have recently commented on the company. ValuEngine upgraded Johnson & Johnson from a “sell” rating to a “hold” rating in a research note on Saturday, July 28th. Sanford C. Bernstein assumed coverage on Johnson & Johnson in a research note on Wednesday, June 27th. They issued a “market perform” rating and a $129.00 target price for the company. Jefferies Financial Group set a $145.00 target price on Johnson & Johnson and gave the company a “buy” rating in a research note on Sunday, July 15th. Credit Suisse Group set a $151.00 target price on Johnson & Johnson and gave the company a “buy” rating in a research note on Friday, July 13th. Finally, Goldman Sachs Group upgraded Johnson & Johnson from a “sell” rating to a “neutral” rating in a research note on Thursday, July 12th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. Johnson & Johnson presently has a consensus rating of “Hold” and a consensus price target of $143.91.
In other Johnson & Johnson news, COO Michael E. Sneed sold 29,000 shares of Johnson & Johnson stock in a transaction on Monday, August 27th. The stock was sold at an average price of $134.80, for a total transaction of $3,909,200.00. Following the completion of the transaction, the chief operating officer now owns 59,124 shares in the company, valued at $7,969,915.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Ronald A. Kapusta sold 7,899 shares of Johnson & Johnson stock in a transaction on Friday, September 7th. The shares were sold at an average price of $137.18, for a total value of $1,083,584.82. Following the transaction, the chief accounting officer now owns 25,725 shares of the company’s stock, valued at approximately $3,528,955.50. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by insiders.
Shares of NYSE:JNJ opened at $133.87 on Friday. The firm has a market cap of $370.70 billion, a price-to-earnings ratio of 18.34, a P/E/G ratio of 2.19 and a beta of 0.70. Johnson & Johnson has a 12-month low of $118.62 and a 12-month high of $148.32. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.65 and a quick ratio of 1.33.
Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, July 17th. The company reported $2.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.06 by $0.04. The business had revenue of $20.83 billion during the quarter, compared to analysts’ expectations of $20.39 billion. Johnson & Johnson had a return on equity of 32.79% and a net margin of 1.70%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.83 earnings per share. As a group, research analysts anticipate that Johnson & Johnson will post 8.14 EPS for the current year.
Johnson & Johnson Profile
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. Its Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, RoC, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.
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