Johnson & Johnson (NYSE:JNJ) Shares Up 1.5% - Here's Why

Shares of Johnson & Johnson (NYSE:JNJ - Get Free Report) were up 1.5% on Wednesday . The company traded as high as $157.17 and last traded at $157.25. Approximately 1,637,742 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 8,813,844 shares. The stock had previously closed at $154.99.

Analyst Ratings Changes

Several research analysts have issued reports on JNJ shares. Wells Fargo & Company dropped their target price on Johnson & Johnson from $166.00 to $152.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 23rd. Wolfe Research began coverage on shares of Johnson & Johnson in a research report on Friday, November 15th. They set an "outperform" rating and a $190.00 target price for the company. Raymond James decreased their price target on shares of Johnson & Johnson from $170.00 to $165.00 and set an "outperform" rating on the stock in a research report on Thursday, January 23rd. Argus raised shares of Johnson & Johnson to a "strong-buy" rating in a research report on Friday, January 24th. Finally, Morgan Stanley reduced their target price on shares of Johnson & Johnson from $175.00 to $163.00 and set an "equal weight" rating for the company in a report on Thursday, January 23rd. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Johnson & Johnson has a consensus rating of "Moderate Buy" and a consensus target price of $170.67.

Johnson & Johnson Trading Up 1.1 %

The stock has a 50 day simple moving average of $148.93 and a 200-day simple moving average of $155.86. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. The firm has a market cap of $395.05 billion, a P/E ratio of 24.69, a P/E/G ratio of 2.56 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.05. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The company had revenue of $22.52 billion for the quarter, compared to analysts' expectations of $22.44 billion. During the same period in the previous year, the firm posted $2.29 earnings per share. The firm's revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities research analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be paid a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a yield of 3.02%. Johnson & Johnson's payout ratio is 74.59%.

Insider Activity

In related news, Director Mark A. Weinberger bought 1,000 shares of Johnson & Johnson stock in a transaction dated Thursday, December 12th. The shares were acquired at an average cost of $147.22 per share, with a total value of $147,220.00. Following the completion of the transaction, the director now owns 1,000 shares in the company, valued at $147,220. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy Schmid sold 403 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $156.15, for a total value of $62,928.45. Following the completion of the sale, the executive vice president now owns 15,098 shares of the company's stock, valued at $2,357,552.70. The trade was a 2.60 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.16% of the company's stock.

Institutional Trading of Johnson & Johnson

A number of hedge funds have recently added to or reduced their stakes in the business. Vinva Investment Management Ltd increased its holdings in Johnson & Johnson by 6.8% during the third quarter. Vinva Investment Management Ltd now owns 111,448 shares of the company's stock valued at $17,988,000 after buying an additional 7,110 shares during the period. Financial Counselors Inc. increased its holdings in shares of Johnson & Johnson by 5.3% in the 3rd quarter. Financial Counselors Inc. now owns 185,093 shares of the company's stock valued at $29,996,000 after acquiring an additional 9,309 shares during the period. Oregon Pacific Wealth Management LLC bought a new position in shares of Johnson & Johnson in the 4th quarter worth $949,000. Meridian Investment Counsel Inc. boosted its position in Johnson & Johnson by 19.6% during the third quarter. Meridian Investment Counsel Inc. now owns 22,629 shares of the company's stock valued at $3,667,000 after purchasing an additional 3,710 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Johnson & Johnson by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company's stock valued at $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.

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.