Cherrydale Wealth Management LLC Has $247,000 Stake in Johnson & Johnson (NYSE:JNJ)

Cherrydale Wealth Management LLC lifted its stake in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 6.3% during the second quarter, Holdings Channel.com reports. The firm owned 1,391 shares of the company’s stock after buying an additional 83 shares during the period. Johnson & Johnson accounts for approximately 0.2% of Cherrydale Wealth Management LLC’s holdings, making the stock its 26th largest position. Cherrydale Wealth Management LLC’s holdings in Johnson & Johnson were worth $247,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of JNJ. Family CFO Inc bought a new stake in shares of Johnson & Johnson during the fourth quarter worth approximately $26,000. RE Dickinson Investment Advisors LLC raised its stake in shares of Johnson & Johnson by 163.3% during the first quarter. RE Dickinson Investment Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after buying an additional 98 shares during the last quarter. Advanced Research Investment Solutions LLC raised its stake in shares of Johnson & Johnson by 200.0% during the first quarter. Advanced Research Investment Solutions LLC now owns 180 shares of the company’s stock worth $32,000 after buying an additional 120 shares during the last quarter. Professional Financial Advisors LLC raised its stake in shares of Johnson & Johnson by 47.9% during the first quarter. Professional Financial Advisors LLC now owns 210 shares of the company’s stock worth $37,000 after buying an additional 68 shares during the last quarter. Finally, Joseph P. Lucia & Associates LLC bought a new stake in Johnson & Johnson in the first quarter valued at approximately $38,000. 68.59% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Price Performance

JNJ opened at $167.60 on Friday. The firm’s fifty day moving average price is $168.96 and its two-hundred day moving average price is $174.23. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.42 and a quick ratio of 1.17. The company has a market capitalization of $440.65 billion, a price-to-earnings ratio of 24.40, a P/E/G ratio of 2.95 and a beta of 0.61. Johnson & Johnson has a 1 year low of $155.72 and a 1 year high of $186.69.

Johnson & Johnson (NYSE:JNJGet Rating) last announced its quarterly earnings results on Tuesday, July 19th. The company reported $2.59 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.02. The firm had revenue of $24.02 billion for the quarter, compared to analysts’ expectations of $23.85 billion. Johnson & Johnson had a return on equity of 36.14% and a net margin of 19.21%. The company’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.48 earnings per share. As a group, analysts anticipate that Johnson & Johnson will post 10.7 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Tuesday, August 23rd were issued a $1.13 dividend. The ex-dividend date was Monday, August 22nd. This represents a $4.52 dividend on an annualized basis and a yield of 2.70%. Johnson & Johnson’s dividend payout ratio (DPR) is 65.79%.

Johnson & Johnson declared that its board has initiated a share repurchase program on Wednesday, September 14th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to reacquire up to 1.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have commented on JNJ. UBS Group lowered their target price on shares of Johnson & Johnson from $185.00 to $180.00 in a research note on Thursday, July 21st. SVB Leerink lowered their target price on shares of Johnson & Johnson from $200.00 to $194.00 in a research note on Wednesday, July 20th. Morgan Stanley lowered their target price on shares of Johnson & Johnson from $174.00 to $173.00 and set an “equal weight” rating for the company in a research note on Monday, September 12th. Daiwa Capital Markets assumed coverage on shares of Johnson & Johnson in a research note on Wednesday, June 22nd. They issued an “outperform” rating for the company. Finally, Citigroup reduced their price target on shares of Johnson & Johnson from $205.00 to $201.00 in a report on Wednesday, July 20th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $189.78.

Johnson & Johnson Profile

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Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment offers baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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