Cumberland Partners Ltd Acquires New Shares in Johnson & Johnson (NYSE:JNJ)

Cumberland Partners Ltd acquired a new stake in shares of Johnson & Johnson (NYSE:JNJ) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 4,932 shares of the company’s stock, valued at approximately $780,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cypress Wealth Services LLC boosted its position in Johnson & Johnson by 1.1% during the 4th quarter. Cypress Wealth Services LLC now owns 7,581 shares of the company’s stock worth $1,188,000 after acquiring an additional 86 shares during the period. Prentice Wealth Management LLC boosted its position in Johnson & Johnson by 5.5% during the 4th quarter. Prentice Wealth Management LLC now owns 4,656 shares of the company’s stock worth $730,000 after acquiring an additional 243 shares during the period. Advisory Resource Group boosted its position in Johnson & Johnson by 8.5% during the 4th quarter. Advisory Resource Group now owns 21,768 shares of the company’s stock worth $3,412,000 after acquiring an additional 1,699 shares during the period. BKM Wealth Management LLC acquired a new position in Johnson & Johnson during the 4th quarter worth $1,951,000. Finally, BluePath Capital Management LLC boosted its position in Johnson & Johnson by 19.7% during the 4th quarter. BluePath Capital Management LLC now owns 6,716 shares of the company’s stock worth $1,087,000 after acquiring an additional 1,104 shares during the period. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $154.69 on Friday. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $175.97. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $372.29 billion, a price-to-earnings ratio of 9.64, a P/E/G ratio of 2.70 and a beta of 0.52. The stock’s fifty day simple moving average is $148.36 and its 200-day simple moving average is $153.34.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.79% and a net margin of 46.34%. The business had revenue of $22.45 billion for the quarter, compared to the consensus estimate of $22.33 billion. During the same quarter in the previous year, the company posted $2.80 earnings per share. Johnson & Johnson’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, sell-side analysts predict that Johnson & Johnson will post 10.07 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th will be issued a dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.21%. Johnson & Johnson’s dividend payout ratio is 30.92%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. TD Cowen reduced their price target on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday, July 1st. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price objective on shares of Johnson & Johnson in a research note on Thursday. TD Securities dropped their price objective on Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday. Finally, HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $169.00 to $170.00 in a research note on Thursday, April 18th. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Johnson & Johnson presently has an average rating of “Moderate Buy” and an average target price of $175.00.

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.