Johnson & Johnson (NYSE:JNJ) Stock Price Down 0.6%

Johnson & Johnson (NYSE:JNJ)’s share price was down 0.6% on Wednesday . The company traded as low as $145.78 and last traded at $146.25. Approximately 1,004,255 shares were traded during trading, a decline of 86% from the average daily volume of 7,372,828 shares. The stock had previously closed at $147.19.

Analysts Set New Price Targets

A number of analysts have weighed in on JNJ shares. Bank of America decreased their price target on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 price target on shares of Johnson & Johnson in a report on Monday, June 17th. StockNews.com downgraded Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 22nd. The Goldman Sachs Group assumed coverage on Johnson & Johnson in a research note on Thursday, May 30th. They issued a “neutral” rating and a $160.00 target price for the company. Finally, Morgan Stanley reduced their target price on 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. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $174.07.

Johnson & Johnson Stock Down 0.7 %

The firm has a market cap of $350.94 billion, a P/E ratio of 9.09, a price-to-earnings-growth ratio of 2.44 and a beta of 0.53. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36. The company has a fifty day simple moving average of $148.17 and a 200-day simple moving average of $154.19.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The company had revenue of $21.38 billion during the quarter, compared to analyst estimates of $21.39 billion. During the same period in the prior year, the company earned $2.68 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. On average, equities analysts anticipate that Johnson & Johnson will post 10.62 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were paid a $1.24 dividend. The ex-dividend date was Monday, May 20th. This represents a $4.96 annualized dividend and a yield of 3.40%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio is 30.92%.

Institutional Trading of Johnson & Johnson

Several hedge funds and other institutional investors have recently bought and sold shares of JNJ. Pathway Financial Advisors LLC raised its stake in shares of Johnson & Johnson by 4.3% during the 4th quarter. Pathway Financial Advisors LLC now owns 5,438 shares of the company’s stock valued at $852,000 after buying an additional 226 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Johnson & Johnson by 5.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 297,850 shares of the company’s stock worth $46,685,000 after purchasing an additional 15,490 shares during the last quarter. OneAscent Financial Services LLC boosted its holdings in shares of Johnson & Johnson by 82.8% during the 4th quarter. OneAscent Financial Services LLC now owns 9,838 shares of the company’s stock worth $1,542,000 after purchasing an additional 4,457 shares during the last quarter. Drive Wealth Management LLC boosted its holdings in shares of Johnson & Johnson by 4.5% during the 1st quarter. Drive Wealth Management LLC now owns 9,625 shares of the company’s stock worth $1,523,000 after purchasing an additional 414 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. raised its position in shares of Johnson & Johnson by 12.7% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 19,587 shares of the company’s stock valued at $3,070,000 after buying an additional 2,201 shares during the period. Institutional investors own 69.55% of the company’s stock.

About Johnson & Johnson

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.