Johnson & Johnson (NYSE:JNJ) Trading 0.2% Higher After Dividend Announcement

Shares of Johnson & Johnson (NYSE:JNJ) rose 0.2% on Thursday after the company announced a dividend. The company traded as high as $145.77 and last traded at $144.86. Approximately 1,190,817 shares changed hands during trading, a decline of 83% from the average daily volume of 7,169,257 shares. The stock had previously closed at $144.62.

The newly announced dividend which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.44%. Johnson & Johnson’s payout ratio is 71.78%.

Analyst Ratings Changes

JNJ has been the subject of several research reports. Citigroup dropped their price objective on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Royal Bank of Canada raised their price objective on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Wells Fargo & Company increased their price objective on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Wolfe Research assumed coverage on Johnson & Johnson in a research report on Friday, November 15th. They set an “outperform” rating and a $190.00 target price for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $174.73.

Johnson & Johnson Price Performance

The firm has a market capitalization of $346.75 billion, a PE ratio of 20.84, a P/E/G ratio of 2.52 and a beta of 0.51. 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 stock has a fifty day moving average price of $152.12 and a 200-day moving average price of $156.23.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The business had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. During the same period in the previous year, the company posted $2.66 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. Sell-side analysts forecast that Johnson & Johnson will post 9.94 EPS for the current fiscal year.

Insider Activity

In related news, Director Mark A. Weinberger purchased 1,000 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were acquired at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the purchase, the director now owns 1,000 shares of the company’s stock, valued at $147,220. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Johnson & Johnson

A number of large investors have recently made changes to their positions in JNJ. State Street Corp raised its stake in shares of Johnson & Johnson by 0.9% in the third quarter. State Street Corp now owns 134,245,811 shares of the company’s stock worth $21,755,874,000 after purchasing an additional 1,154,088 shares during the last quarter. Geode Capital Management LLC raised its position in Johnson & Johnson by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 56,106,884 shares of the company’s stock worth $9,064,149,000 after buying an additional 1,004,763 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Johnson & Johnson by 10.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock valued at $2,744,979,000 after acquiring an additional 1,831,751 shares during the last quarter. FMR LLC increased its stake in shares of Johnson & Johnson by 7.4% in the third quarter. FMR LLC now owns 18,316,920 shares of the company’s stock worth $2,968,440,000 after acquiring an additional 1,265,748 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Johnson & Johnson by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock worth $2,858,543,000 after purchasing an additional 102,502 shares during the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

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.