Johnson & Johnson (NYSE:JNJ) Shares Down 1.1%

Shares of Johnson & Johnson (NYSE:JNJ) traded down 1.1% during trading on Thursday . The company traded as low as $151.70 and last traded at $151.81. 1,428,737 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 7,293,876 shares. The stock had previously closed at $153.50.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and raised their price objective for the company from $169.00 to $170.00 in a research report on Thursday, April 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a research note on Wednesday. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. Morgan Stanley decreased their price target on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Finally, Bank of America decreased their price target on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $175.86.

Johnson & Johnson Trading Down 2.3 %

The firm’s fifty day moving average is $151.73 and its two-hundred day moving average is $155.11. The firm has a market cap of $360.98 billion, a P/E ratio of 9.46, a PEG ratio of 2.51 and a beta of 0.55. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The company had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.39 billion. During the same period in the prior year, the firm posted $2.68 EPS. Johnson & Johnson’s revenue for the quarter was up 2.3% on a year-over-year basis. Analysts predict that Johnson & Johnson will post 10.64 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be paid a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.31%. The ex-dividend date is Monday, May 20th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio is 30.92%.

Hedge Funds Weigh In On Johnson & Johnson

Several institutional investors have recently made changes to their positions in JNJ. Norges Bank purchased a new stake in Johnson & Johnson in the 4th quarter worth approximately $4,071,642,000. Wellington Management Group LLP increased its holdings in Johnson & Johnson by 16.4% in the 4th quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock worth $3,764,852,000 after acquiring an additional 3,391,657 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Johnson & Johnson by 16.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock worth $3,453,978,000 after acquiring an additional 3,139,499 shares in the last quarter. Swedbank AB purchased a new stake in Johnson & Johnson in the 1st quarter worth approximately $331,178,000. Finally, International Assets Investment Management LLC grew its holdings in Johnson & Johnson by 7,875.8% during the 4th quarter. International Assets Investment Management LLC now owns 2,090,384 shares of the company’s stock valued at $327,647,000 after buying an additional 2,064,175 shares in the last quarter. Institutional investors own 69.55% of the company’s stock.

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.