Johnson & Johnson (NYSE:JNJ) Stock Price Down 0.8%

Johnson & Johnson (NYSE:JNJ) traded down 0.8% during mid-day trading on Wednesday . The stock traded as low as $144.75 and last traded at $144.82. 1,030,759 shares were traded during mid-day trading, a decline of 86% from the average session volume of 7,336,457 shares. The stock had previously closed at $146.03.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on JNJ shares. Morgan Stanley dropped their price objective 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 Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Sunday, June 30th. The Goldman Sachs Group started coverage on Johnson & Johnson in a research report on Thursday, May 30th. They issued a “neutral” rating and a $160.00 price objective on the stock. HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and boosted their target price for the company from $169.00 to $170.00 in a research note on Thursday, April 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price target on shares of Johnson & Johnson in a research note on Monday, June 17th. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $174.07.

Johnson & Johnson Stock Down 0.2 %

The stock has a market cap of $350.63 billion, a price-to-earnings ratio of 9.08, a PEG ratio of 2.42 and a beta of 0.52. 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 stock has a fifty day moving average of $147.94 and a two-hundred day moving average of $153.79.

Johnson & Johnson (NYSE:JNJ) last announced 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. The firm had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.68 EPS. As a group, analysts predict that Johnson & Johnson will post 10.62 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were paid a dividend of $1.24 per share. The ex-dividend date was Monday, May 20th. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a dividend yield of 3.40%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 30.92%.

Hedge Funds Weigh In On Johnson & Johnson

Several institutional investors and hedge funds have recently made changes to their positions in JNJ. 4J Wealth Management LLC increased its holdings in Johnson & Johnson by 2.2% in the fourth quarter. 4J Wealth Management LLC now owns 2,835 shares of the company’s stock valued at $444,000 after buying an additional 62 shares during the last quarter. My Personal CFO LLC increased its holdings in shares of Johnson & Johnson by 1.4% in the 4th quarter. My Personal CFO LLC now owns 4,550 shares of the company’s stock worth $713,000 after acquiring an additional 62 shares during the period. Eagle Strategies LLC lifted its position in Johnson & Johnson by 1.8% in the 4th quarter. Eagle Strategies LLC now owns 3,589 shares of the company’s stock valued at $563,000 after purchasing an additional 63 shares during the last quarter. Clearview Wealth Advisors LLC boosted its stake in Johnson & Johnson by 1.5% during the 4th quarter. Clearview Wealth Advisors LLC now owns 4,373 shares of the company’s stock valued at $685,000 after purchasing an additional 64 shares during the period. Finally, Brookmont Capital Management increased its stake in shares of Johnson & Johnson by 0.4% in the fourth quarter. Brookmont Capital Management now owns 14,852 shares of the company’s stock valued at $2,328,000 after purchasing an additional 64 shares during the period. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

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.