Johnson & Johnson (NYSE:JNJ) Stock Price Up 2.8% - What's Next?

Key Points

• Johnson & Johnson (JNJ) stock jumped 2.8% to about $193.76 intraday on Tuesday, on trading volume roughly 17% below its average daily level.
• Multiple analysts have raised targets and upgraded ratings recently, leaving JNJ with an average rating of “Moderate Buy” and an average price target of $199.05.
• The company announced a quarterly dividend of $1.30 (annualized $5.20) for a 2.7% yield, with an ex-dividend date of Nov. 25 and payment on Dec. 9.

Johnson & Johnson (NYSE:JNJ - Get Free Report) rose 2.8% during mid-day trading on Tuesday . The company traded as high as $193.92 and last traded at $193.7640. Approximately 7,325,807 shares traded hands during trading, a decline of 17% from the average daily volume of 8,816,025 shares. The stock had previously closed at $188.41.

Analyst Ratings Changes

Several research firms have recently commented on JNJ. Citigroup boosted their target price on shares of Johnson & Johnson from $213.00 to $215.00 and gave the stock a "buy" rating in a research report on Wednesday, October 15th. Weiss Ratings reissued a "buy (b)" rating on shares of Johnson & Johnson in a report on Friday, October 31st. Raymond James Financial raised their target price on Johnson & Johnson from $174.00 to $209.00 and gave the company an "outperform" rating in a report on Wednesday, October 15th. Morgan Stanley set a $190.00 target price on Johnson & Johnson in a research report on Wednesday, October 15th. Finally, Erste Group Bank raised Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $199.05.

Johnson & Johnson Stock Up 2.8%

The stock has a 50-day moving average of $184.47 and a 200 day moving average of $169.03. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $466.83 billion, a PE ratio of 18.70, a P/E/G ratio of 2.19 and a beta of 0.38.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 earnings per share (EPS) for the quarter. The firm had revenue of $24.02 billion during the quarter. Johnson & Johnson had a return on equity of 32.73% and a net margin of 27.26%. Sell-side analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 25th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, November 25th. Johnson & Johnson's dividend payout ratio is currently 50.19%.

Insider Activity at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the company's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $177.81, for a total value of $10,041,108.51. Following the transaction, the executive vice president owned 178,013 shares in the company, valued at approximately $31,652,491.53. This represents a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.16% of the company's stock.

Institutional Trading of Johnson & Johnson

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Johnson & Johnson by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 237,047,859 shares of the company's stock valued at $36,209,060,000 after buying an additional 3,085,180 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Johnson & Johnson by 2.1% in the second quarter. Geode Capital Management LLC now owns 60,609,476 shares of the company's stock worth $9,227,988,000 after acquiring an additional 1,225,676 shares during the period. Norges Bank bought a new position in shares of Johnson & Johnson in the second quarter worth $4,877,174,000. Northern Trust Corp raised its stake in shares of Johnson & Johnson by 0.4% during the 1st quarter. Northern Trust Corp now owns 30,943,820 shares of the company's stock valued at $5,131,723,000 after purchasing an additional 130,645 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Johnson & Johnson by 3.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 24,637,649 shares of the company's stock valued at $4,568,313,000 after purchasing an additional 835,146 shares during the period. 69.55% of the stock is currently owned by institutional investors.

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.

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