Johnson & Johnson (NYSE:JNJ) Stock Price Up 0.6% – Here’s Why

Johnson & Johnson (NYSE:JNJ) shot up 0.6% during trading on Thursday . The stock traded as high as $156.63 and last traded at $155.40. 4,140,444 shares changed hands during trading, a decline of 41% from the average session volume of 7,057,054 shares. The stock had previously closed at $154.52.

Analyst Upgrades and Downgrades

JNJ has been the topic of a number of analyst reports. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Royal Bank of Canada boosted their target price on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Guggenheim increased their price target on Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Finally, Wells Fargo & Company boosted their price objective on Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $175.94.

Johnson & Johnson Trading Up 0.6 %

The stock has a market capitalization of $374.14 billion, a P/E ratio of 22.49, a price-to-earnings-growth ratio of 2.77 and a beta of 0.53. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average price of $159.52 and a 200 day moving average price of $156.38.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The company had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. During the same period last year, the firm earned $2.66 earnings per share. Johnson & Johnson’s revenue was up 5.2% compared to the same quarter last year. On average, research analysts forecast that Johnson & Johnson will post 9.93 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be issued a dividend of $1.24 per share. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 annualized dividend and a dividend yield of 3.19%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 71.78%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Innealta Capital LLC purchased a new position in Johnson & Johnson during the 2nd quarter worth approximately $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Johnson & Johnson in the third quarter worth $31,000. RPg Family Wealth Advisory LLC acquired a new position in Johnson & Johnson during the third quarter valued at $35,000. Mowery & Schoenfeld Wealth Management LLC boosted its holdings in Johnson & Johnson by 58.7% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after purchasing an additional 91 shares during the last quarter. Finally, Activest Wealth Management purchased a new position in shares of Johnson & Johnson during the 3rd quarter valued at about $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.