Johnson & Johnson (NYSE:JNJ) Shares Down 0.7% - Here's What Happened

Johnson & Johnson (NYSE:JNJ - Get Free Report) shares traded down 0.7% during mid-day trading on Friday . The stock traded as low as $152.45 and last traded at $153.92. 1,971,245 shares traded hands during trading, a decline of 75% from the average session volume of 7,894,961 shares. The stock had previously closed at $154.93.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on JNJ shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $181.00 target price on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Argus upgraded Johnson & Johnson to a "strong-buy" rating in a report on Friday, January 24th. Leerink Partners cut their price target on Johnson & Johnson from $182.00 to $169.00 and set an "outperform" rating for the company in a report on Thursday, January 23rd. The Goldman Sachs Group raised Johnson & Johnson from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $157.00 to $172.00 in a research note on Wednesday, April 9th. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $171.82.

Johnson & Johnson Stock Performance

The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $375.11 billion, a PE ratio of 23.44, a price-to-earnings-growth ratio of 2.56 and a beta of 0.49. The firm has a 50-day moving average price of $159.43 and a 200 day moving average price of $154.76.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.18. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The company had revenue of $21.89 billion during the quarter, compared to the consensus estimate of $21.65 billion. Research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th will be paid a $1.30 dividend. This is an increase 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 dividend yield of 3.34%. Johnson & Johnson's payout ratio is 57.84%.

Insider Activity

In related news, VP Robert J. Decker sold 6,999 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total value of $1,160,994.12. Following the sale, the vice president now owns 21,001 shares of the company's stock, valued at $3,483,645.88. This trade represents a 25.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Timothy Schmid sold 403 shares of Johnson & Johnson stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total transaction of $62,928.45. Following the completion of the transaction, the executive vice president now owns 15,098 shares of the company's stock, valued at $2,357,552.70. This represents 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.

Hedge Funds Weigh In On Johnson & Johnson

A number of institutional investors and hedge funds have recently modified their holdings of JNJ. Principal Financial Group Inc. boosted its holdings in shares of Johnson & Johnson by 10.5% in the 3rd quarter. Principal Financial Group Inc. now owns 3,472,312 shares of the company's stock valued at $562,723,000 after buying an additional 329,473 shares in the last quarter. Invst LLC boosted its stake in Johnson & Johnson by 394.0% in the third quarter. Invst LLC now owns 10,290 shares of the company's stock valued at $1,668,000 after acquiring an additional 8,207 shares in the last quarter. McIlrath & Eck LLC increased its position in shares of Johnson & Johnson by 10.7% during the third quarter. McIlrath & Eck LLC now owns 2,892 shares of the company's stock worth $469,000 after purchasing an additional 279 shares in the last quarter. Passumpsic Savings Bank purchased a new stake in shares of Johnson & Johnson in the 3rd quarter valued at about $262,000. Finally, Te Ahumairangi Investment Management Ltd grew its stake in Johnson & Johnson by 10.1% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 50,765 shares of the company's stock worth $8,180,000 after buying an additional 4,640 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company's stock.

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.