Johnson & Johnson (NYSE:JNJ) Shares Up 0.4% After Better-Than-Expected Earnings

Shares of Johnson & Johnson (NYSE:JNJ - Get Free Report) rose 0.4% during mid-day trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $155.63 and last traded at $154.29. Approximately 1,979,675 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 9,843,281 shares. The stock had previously closed at $153.62.

The company reported $2.77 EPS for the quarter, topping analysts' consensus estimates of $2.59 by $0.18. The firm had revenue of $21.89 billion for the quarter, compared to the consensus estimate of $21.65 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th will be paid a dividend of $1.30 per share. This is a boost from Johnson & Johnson's previous quarterly dividend of $1.24. The ex-dividend date is Tuesday, May 27th. This represents a $5.20 annualized dividend and a yield of 3.30%. Johnson & Johnson's dividend payout ratio (DPR) is 74.59%.

Wall Street Analyst Weigh In

JNJ has been the subject of a number of research analyst reports. Bank of America lowered their price target on Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Morgan Stanley lifted their price target on shares of Johnson & Johnson from $164.00 to $169.00 and gave the company an "equal weight" rating in a research report on Wednesday. Guggenheim restated a "neutral" rating on shares of Johnson & Johnson in a report on Wednesday, April 2nd. Sanford C. Bernstein reiterated a "market perform" rating on shares of Johnson & Johnson in a report on Wednesday. Finally, Argus upgraded Johnson & Johnson to a "strong-buy" rating in a research note on Friday, January 24th. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $171.82.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 6,999 shares of Johnson & Johnson stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $165.88, for a total value of $1,160,994.12. Following the transaction, the vice president now directly owns 21,001 shares in the company, valued at approximately $3,483,645.88. This trade represents a 25.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Timothy Schmid sold 403 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total value of $62,928.45. Following the sale, the executive vice president now owns 15,098 shares of the company's stock, valued at $2,357,552.70. This trade represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. 0.16% of the stock is owned by company insiders.

Hedge Funds Weigh In On Johnson & Johnson

Several institutional investors have recently bought and sold shares of the company. Wells Trecaso Financial Group LLC increased its stake in shares of Johnson & Johnson by 2.4% during the first quarter. Wells Trecaso Financial Group LLC now owns 52,711 shares of the company's stock worth $8,741,000 after acquiring an additional 1,259 shares during the period. Wolf Group Capital Advisors grew its holdings in Johnson & Johnson by 8.5% during the first quarter. Wolf Group Capital Advisors now owns 15,766 shares of the company's stock worth $2,615,000 after acquiring an additional 1,235 shares during the period. Cornerstone Wealth Management LLC boosted its position in shares of Johnson & Johnson by 4.0% during the 1st quarter. Cornerstone Wealth Management LLC now owns 51,706 shares of the company's stock worth $8,575,000 after purchasing an additional 1,971 shares in the last quarter. Mezzasalma Advisors LLC acquired a new position in Johnson & Johnson during the first quarter worth about $223,000. Finally, Clarius Group LLC increased its holdings in Johnson & Johnson by 15.4% in the first quarter. Clarius Group LLC now owns 24,228 shares of the company's stock valued at $4,018,000 after buying an additional 3,232 shares in the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Johnson & Johnson Stock Performance

The company has a market capitalization of $379.37 billion, a price-to-earnings ratio of 23.67, a P/E/G ratio of 2.56 and a beta of 0.49. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11. The stock's 50-day moving average price is $159.49 and its 200-day moving average price is $155.03.

Johnson & Johnson Company Profile

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.