Johnson & Johnson (NYSE:JNJ) Trading Up 0.7% – Here’s What Happened

Johnson & Johnson (NYSE:JNJ)’s stock price shot up 0.7% on Friday . The stock traded as high as $153.32 and last traded at $153.00. 2,976,471 shares changed hands during trading, a decline of 57% from the average session volume of 6,979,637 shares. The stock had previously closed at $151.87.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on JNJ. Wolfe Research began coverage on shares of Johnson & Johnson in a report on Friday. They set an “outperform” rating and a $190.00 price objective for the company. TD Cowen cut their target price on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. The Goldman Sachs Group lowered their price target on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Morgan Stanley boosted their price objective on shares of Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Daiwa Capital Markets downgraded Johnson & Johnson from an “outperform” rating to a “neutral” rating and cut their price target for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $175.94.

Johnson & Johnson Stock Up 1.5 %

The company has a market capitalization of $371.16 billion, a price-to-earnings ratio of 22.14, a PEG ratio of 2.72 and a beta of 0.53. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03. The business’s 50 day moving average is $161.56 and its 200 day moving average is $155.97.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21. The firm had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.66 earnings per share. Sell-side analysts anticipate that Johnson & Johnson will post 9.93 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio is presently 71.78%.

Insider Activity at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the sale, the vice president now directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. This represents a 22.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.16% of the stock is currently owned by insiders.

Institutional Trading of Johnson & Johnson

Institutional investors have recently bought and sold shares of the business. Innealta Capital LLC purchased a new position in Johnson & Johnson during the second quarter valued at $27,000. Highline Wealth Partners LLC purchased a new position in Johnson & Johnson in the 3rd quarter valued at about $31,000. RPg Family Wealth Advisory LLC acquired a new stake in Johnson & Johnson in the 3rd quarter worth about $35,000. Mowery & Schoenfeld Wealth Management LLC increased its stake in Johnson & Johnson by 58.7% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after buying an additional 91 shares in the last quarter. Finally, Activest Wealth Management acquired a new position in shares of Johnson & Johnson during the third quarter valued at approximately $40,000. 69.55% of the stock is owned by institutional investors and hedge funds.

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.