Johnson & Johnson (NYSE:JNJ) Shares Down 0.5% Following Analyst Downgrade

Shares of Johnson & Johnson (NYSE:JNJ - Get Free Report) dropped 0.5% on Monday after Bank of America lowered their price target on the stock from $166.00 to $160.00. Bank of America currently has a neutral rating on the stock. Johnson & Johnson traded as low as $146.61 and last traded at $147.03. Approximately 10,678,393 shares were traded during mid-day trading, an increase of 55% from the average daily volume of 6,880,262 shares. The stock had previously closed at $147.77.

A number of other analysts have also weighed in on JNJ. Wolfe Research assumed coverage on shares of Johnson & Johnson in a research note on Friday, November 15th. They set an "outperform" rating and a $190.00 target price on the stock. StockNews.com downgraded shares of Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research report on Friday. Citigroup lowered their target price on shares of Johnson & Johnson from $185.00 to $175.00 and set a "buy" rating for the company in a research note on Wednesday, December 11th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Wednesday, October 16th. Finally, Wells Fargo & Company increased 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 research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $174.29.

Insider Activity

In other Johnson & Johnson news, Director Mark A. Weinberger bought 1,000 shares of the firm's stock in a transaction dated Thursday, December 12th. The stock was acquired at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the completion of the purchase, the director now owns 1,000 shares of the company's stock, valued at approximately $147,220. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.16% of the company's stock.

Institutional Trading of Johnson & Johnson

Hedge funds have recently added to or reduced their stakes in the stock. Lifestyle Asset Management Inc. lifted its position in Johnson & Johnson by 4.7% in the fourth quarter. Lifestyle Asset Management Inc. now owns 1,560 shares of the company's stock valued at $226,000 after purchasing an additional 70 shares during the period. Apeiron RIA LLC lifted its holdings in shares of Johnson & Johnson by 18.0% in the 4th quarter. Apeiron RIA LLC now owns 2,596 shares of the company's stock valued at $375,000 after buying an additional 396 shares during the period. Veracity Capital LLC boosted its stake in shares of Johnson & Johnson by 7.7% in the fourth quarter. Veracity Capital LLC now owns 3,343 shares of the company's stock valued at $483,000 after buying an additional 240 shares in the last quarter. Secure Asset Management LLC grew its holdings in Johnson & Johnson by 31.4% during the fourth quarter. Secure Asset Management LLC now owns 5,050 shares of the company's stock worth $730,000 after acquiring an additional 1,206 shares during the period. Finally, Red Door Wealth Management LLC raised its position in Johnson & Johnson by 27.3% in the fourth quarter. Red Door Wealth Management LLC now owns 65,093 shares of the company's stock worth $9,414,000 after acquiring an additional 13,962 shares in the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Johnson & Johnson Trading Down 0.5 %

The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. The company has a market cap of $353.99 billion, a price-to-earnings ratio of 21.28, a P/E/G ratio of 2.30 and a beta of 0.51. The business has a fifty day simple moving average of $148.51 and a 200 day simple moving average of $156.10.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend is Tuesday, February 18th. Johnson & Johnson's dividend payout ratio is currently 71.78%.

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.