Johnson & Johnson (NYSE:JNJ) Stock Price Down 1.6%

Shares of Johnson & Johnson (NYSE:JNJ) dropped 1.6% on Wednesday . The stock traded as low as $146.86 and last traded at $147.12. Approximately 2,229,662 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 7,290,556 shares. The stock had previously closed at $149.56.

Wall Street Analyst Weigh In

JNJ has been the subject of several analyst reports. Morgan Stanley cut their target price on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday, April 15th. HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and upped their price objective for the company from $169.00 to $170.00 in a research note on Thursday, April 18th. Finally, Bank of America dropped their price objective on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $175.86.

Johnson & Johnson Stock Performance

The stock has a 50-day simple moving average of $155.83 and a 200-day simple moving average of $155.51. The company has a market capitalization of $357.92 billion, a price-to-earnings ratio of 9.17, a price-to-earnings-growth ratio of 2.46 and a beta of 0.53. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.38.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.43% and a net margin of 45.26%. The business had revenue of $21.38 billion for the quarter, compared to analyst estimates of $21.39 billion. During the same period in the prior year, the company posted $2.68 EPS. The business’s revenue was up 2.3% compared to the same quarter last year. On average, analysts anticipate that Johnson & Johnson will post 10.65 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be paid a $1.24 dividend. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend is Monday, May 20th. This represents a $4.96 annualized dividend and a dividend yield of 3.34%. Johnson & Johnson’s dividend payout ratio is presently 29.68%.

Insider Activity at Johnson & Johnson

In related news, major shareholder & Johnson Johnson sold 3,725 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $25.81, for a total value of $96,142.25. Following the completion of the transaction, the insider now owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder & Johnson Johnson sold 3,725 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $25.81, for a total value of $96,142.25. Following the transaction, the insider now directly owns 4,099,575 shares of the company’s stock, valued at approximately $105,810,030.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jennifer L. Taubert sold 59,397 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $156.27, for a total value of $9,281,969.19. Following the completion of the sale, the executive vice president now directly owns 141,416 shares in the company, valued at approximately $22,099,078.32. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

Institutional Trading of Johnson & Johnson

Several institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in shares of Johnson & Johnson during the fourth quarter worth about $4,071,642,000. Wellington Management Group LLP increased its stake in shares of Johnson & Johnson by 16.4% during the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock worth $3,764,852,000 after purchasing an additional 3,391,657 shares during the period. Charles Schwab Investment Management Inc. increased its stake in 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 acquiring an additional 241,799 shares during the period. California Public Employees Retirement System increased its stake in Johnson & Johnson by 4.9% during the 4th quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock worth $1,664,620,000 after acquiring an additional 498,647 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Johnson & Johnson by 10.6% in the 4th 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. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Company 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.