Johnson & Johnson (NYSE:JNJ) Shares Up 1.6% Following Strong Earnings

Shares of Johnson & Johnson (NYSE:JNJ) shot up 1.6% during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $147.66 and last traded at $147.63. 2,599,967 shares traded hands during trading, a decline of 71% from the average session volume of 8,890,007 shares. The stock had previously closed at $145.27.

The company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.05. The firm had revenue of $22.52 billion for the quarter, compared to analyst estimates of $22,438,500 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $2.29 EPS.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be issued a $1.24 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $4.96 annualized dividend and a yield of 3.38%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 71.78%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on JNJ. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Barclays decreased their price target on shares of Johnson & Johnson from $160.00 to $159.00 and set an “equal weight” rating for the company in a research note on Tuesday. Wells Fargo & Company dropped their price objective on shares of Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating on the stock in a research note on Thursday. Leerink Partners decreased their target price on shares of Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, StockNews.com cut Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 17th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and an average price target of $170.06.

Insider Transactions at Johnson & Johnson

In other news, Director Mark A. Weinberger bought 1,000 shares of the stock in a transaction on Thursday, December 12th. The shares were bought at an average price of $147.22 per share, with a total value of $147,220.00. Following the completion of the acquisition, the director now owns 1,000 shares in the company, valued at $147,220. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Johnson & Johnson

A number of hedge funds have recently modified their holdings of JNJ. IFS Advisors LLC boosted its position in shares of Johnson & Johnson by 138.9% in the fourth quarter. IFS Advisors LLC now owns 172 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares during the period. Highline Wealth Partners LLC bought a new position in Johnson & Johnson in the 3rd quarter worth $31,000. RPg Family Wealth Advisory LLC purchased a new stake in Johnson & Johnson in the 3rd quarter worth $35,000. Mowery & Schoenfeld Wealth Management LLC raised its holdings in Johnson & Johnson by 58.7% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after acquiring an additional 91 shares during the period. Finally, Activest Wealth Management purchased a new position in shares of Johnson & Johnson in the third quarter valued at about $40,000. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

The firm has a 50-day moving average of $148.10 and a 200-day moving average of $156.05. The stock has a market cap of $352.91 billion, a PE ratio of 21.21, a PEG ratio of 2.52 and a beta of 0.51. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79.

About Johnson & Johnson

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.