Cherrydale Wealth Management LLC Acquires New Shares in Johnson & Johnson (NYSE:JNJ)

Cherrydale Wealth Management LLC purchased a new stake in shares of Johnson & Johnson (NYSE:JNJ) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 2,003 shares of the company’s stock, valued at approximately $325,000.

Several other institutional investors have also modified their holdings of the company. Wellington Management Group LLP increased its stake in shares of Johnson & Johnson by 16.4% in the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after purchasing an additional 3,391,657 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Johnson & Johnson by 16.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock worth $3,453,978,000 after purchasing an additional 3,139,499 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Johnson & Johnson by 10.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock worth $2,744,979,000 after buying an additional 1,831,751 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Johnson & Johnson by 5.5% in the second quarter. Ameriprise Financial Inc. now owns 14,374,397 shares of the company’s stock worth $2,100,427,000 after purchasing an additional 754,200 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Johnson & Johnson by 16.2% during the second quarter. Dimensional Fund Advisors LP now owns 13,147,352 shares of the company’s stock worth $1,921,565,000 after acquiring an additional 1,829,257 shares during the period. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Down 0.2 %

JNJ traded down $0.25 during midday trading on Monday, hitting $161.21. 355,086 shares of the company’s stock traded hands, compared to its average volume of 7,005,770. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85. The company has a market cap of $387.98 billion, a PE ratio of 10.07, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85. The stock’s fifty day simple moving average is $162.59 and its 200-day simple moving average is $154.46.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The firm had revenue of $22.45 billion for the quarter, compared to the consensus estimate of $22.33 billion. During the same period in the prior year, the business posted $2.80 earnings per share. The business’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, equities analysts anticipate that Johnson & Johnson will post 10 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were issued a dividend of $1.24 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 3.08%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

Wall Street Analysts Forecast Growth

JNJ has been the topic of several recent research reports. Daiwa America cut shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. TD Securities reduced their price objective on shares of Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. The Goldman Sachs Group dropped their target price on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Morgan Stanley lifted their price objective on shares of Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Finally, TD Cowen reduced their price objective on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Six 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $174.31.

Insider Buying and Selling

In other news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the transaction, the vice president now directly owns 18,973 shares in the company, valued at approximately $3,131,683.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.16% of the stock is owned by insiders.

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.