1,754 Shares in Johnson & Johnson (NYSE:JNJ) Acquired by Cherrydale Wealth Management LLC

Cherrydale Wealth Management LLC bought a new stake in shares of Johnson & Johnson (NYSE:JNJ) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,754 shares of the company’s stock, valued at approximately $277,000.

Several other hedge funds also recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Johnson & Johnson during the fourth quarter worth about $4,071,642,000. Wellington Management Group LLP raised its holdings in Johnson & Johnson by 16.4% in the 4th quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after acquiring an additional 3,391,657 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Johnson & Johnson by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,945,533 shares of the company’s stock worth $2,483,532,000 after purchasing an additional 241,799 shares during the period. California Public Employees Retirement System grew its position in shares of Johnson & Johnson by 4.9% in the fourth quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock valued at $1,664,620,000 after purchasing an additional 498,647 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Johnson & Johnson by 10.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,169,190 shares of the company’s stock valued at $1,593,908,000 after purchasing an additional 975,485 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of NYSE:JNJ traded up $0.61 during trading on Monday, reaching $149.36. 1,283,709 shares of the company’s stock traded hands, compared to its average volume of 7,385,908. The stock has a market capitalization of $359.46 billion, a P/E ratio of 9.27, a price-to-earnings-growth ratio of 2.46 and a beta of 0.53. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97. The company has a 50 day moving average of $148.05 and a 200-day moving average of $154.33. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping 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 36.70% and a net margin of 45.26%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.68 EPS. On average, equities analysts expect that Johnson & Johnson will post 10.63 EPS for the current year.

Johnson & Johnson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were paid a $1.24 dividend. The ex-dividend date was Monday, May 20th. This represents a $4.96 annualized dividend and a dividend yield of 3.32%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on JNJ shares. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a report on Monday, June 17th. StockNews.com downgraded Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Saturday. Morgan Stanley decreased their target price on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Finally, HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their price target for the company from $169.00 to $170.00 in a research report on Thursday, April 18th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $174.07.

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.