Cornerstone Advisors buys $825,196 stake in Johnson & Johnson (JNJ)

Johnson & Johnson (JNJ) : Cornerstone Advisors scooped up 2,191 additional shares in Johnson & Johnson during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 20, 2016. The investment management firm now holds a total of 7,282 shares of Johnson & Johnson which is valued at $825,196.Johnson & Johnson makes up approximately 0.86% of Cornerstone Advisors’s portfolio.

Johnson & Johnson closed down -0.25 points or -0.22% at $113.32 with 75,08,690 shares getting traded on Friday. Post opening the session at $113.43, the shares hit an intraday low of $112.828 and an intraday high of $113.7531 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Moreno Evelyn V reduced its stake in JNJ by selling 35 shares or 0.07% in the most recent quarter. The Hedge Fund company now holds 52,398 shares of JNJ which is valued at $5,937,741. Johnson & Johnson makes up approx 2.27% of Moreno Evelyn V’s portfolio.Mountain Pacific Investment Advisers Incid reduced its stake in JNJ by selling 898 shares or 2.72% in the most recent quarter. The Hedge Fund company now holds 32,110 shares of JNJ which is valued at $3,537,880. Johnson & Johnson makes up approx 0.40% of Mountain Pacific Investment Advisers Incid’s portfolio.Crestpoint Capital Management boosted its stake in JNJ in the latest quarter, The investment management firm added 800 additional shares and now holds a total of 31,800 shares of Johnson & Johnson which is valued at $3,503,724. Johnson & Johnson makes up approx 1.89% of Crestpoint Capital Management’s portfolio.Btr Capital Management Inc reduced its stake in JNJ by selling 17,853 shares or 14.95% in the most recent quarter. The Hedge Fund company now holds 101,571 shares of JNJ which is valued at $11,191,093. Johnson & Johnson makes up approx 2.57% of Btr Capital Management Inc’s portfolio.

On the company’s financial health, Johnson & Johnson reported $1.68 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 19, 2016. Analyst had a consensus of $1.65. The company had revenue of $17482.00 million for the quarter, compared to analysts expectations of $17491.02 million. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.56 EPS.

Many Wall Street Analysts have commented on Johnson & Johnson. Company shares were Reiterated by RBC Capital Mkts on Apr 20, 2016 to “Outperform”, Firm has raised the Price Target to $ 125 from a previous price target of $122 .Company shares were Reiterated by Piper Jaffray on Apr 20, 2016 to “Neutral”, Firm has raised the Price Target to $ 106 from a previous price target of $105 .Company shares were Reiterated by RBC Capital Mkts on Apr 15, 2016 to “Outperform”, Firm has raised the Price Target to $ 122 from a previous price target of $114 .

Johnson & Johnson is a holding company. The Company is engaged in the research and development manufacture and sale of a range of products in the health care field. The Company has more than 265 operating companies conducting business around the world. The Company’s primary focus is products related to human health and well-being. The Company is organized into three business segments: Consumer Pharmaceutical and Medical Devices. The Company’s subsidiaries operate 134 manufacturing facilities occupying approximately 21.5 million square feet of floor space. The Company’s research facilities are located in the United States Belgium Brazil Canada China France Germany India Israel Japan the Netherlands Singapore Switzerland and the United Kingdom.

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