Wolfe Research Initiates Coverage on Johnson & Johnson (NYSE:JNJ)

Wolfe Research began coverage on shares of Johnson & Johnson (NYSE:JNJ - Free Report) in a research note published on Friday, Marketbeat reports. The firm issued an outperform rating and a $190.00 price objective on the stock.

JNJ has been the subject of several other research reports. The Goldman Sachs Group reduced their target price on shares of Johnson & Johnson from $160.00 to $155.00 and set a "neutral" rating for the company in a report on Friday, July 19th. Guggenheim raised their price objective on Johnson & Johnson from $156.00 to $162.00 and gave the company a "neutral" rating in a report on Wednesday, November 6th. Wells Fargo & Company upped their target price on Johnson & Johnson from $163.00 to $166.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 16th. Sanford C. Bernstein raised their price target on Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Finally, Daiwa America cut Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 23rd. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $175.94.

Johnson & Johnson Stock Up 1.3 %

JNJ traded up $2.02 during trading on Friday, hitting $153.89. The company had a trading volume of 7,244,058 shares, compared to its average volume of 6,998,860. The firm's 50-day moving average price is $161.56 and its 200 day moving average price is $155.97. The company has a market capitalization of $370.51 billion, a PE ratio of 22.14, a PEG ratio of 2.72 and a beta of 0.53. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The company had revenue of $22.47 billion during the quarter, compared to analysts' expectations of $22.17 billion. During the same period in the prior year, the firm earned $2.66 earnings per share. Johnson & Johnson's revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, equities analysts expect that Johnson & Johnson will post 9.93 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company 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. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson's dividend payout ratio is presently 71.78%.

Insider Activity

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the business's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the sale, the vice president now owns 18,973 shares of the company's stock, valued at $3,131,683.38. The trade was a 22.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.16% of the stock is owned by company insiders.

Institutional Investors Weigh In On Johnson & Johnson

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Innealta Capital LLC bought a new stake in shares of Johnson & Johnson during the 2nd quarter valued at $27,000. Highline Wealth Partners LLC acquired a new position in Johnson & Johnson in the third quarter valued at about $31,000. RPg Family Wealth Advisory LLC bought a new stake in Johnson & Johnson during the third quarter worth about $35,000. Mowery & Schoenfeld Wealth Management LLC grew its stake in Johnson & Johnson by 58.7% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company's stock worth $40,000 after buying an additional 91 shares in the last quarter. Finally, Activest Wealth Management acquired a new position in shares of Johnson & Johnson in the 3rd quarter valued at approximately $40,000. 69.55% of the stock is currently 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.