Johnson & Johnson (NYSE:JNJ) Trading Up 0.7% - Here's What Happened

Shares of Johnson & Johnson (NYSE:JNJ - Get Free Report) shot up 0.7% during trading on Tuesday . The stock traded as high as $158.72 and last traded at $158.00. 1,084,657 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 7,912,802 shares. The stock had previously closed at $156.92.

Wall Street Analyst Weigh In

Several brokerages have recently commented on JNJ. StockNews.com upgraded Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a report on Saturday, January 25th. Royal Bank of Canada reissued an "outperform" rating and issued a $181.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Bank of America lowered their price objective on shares of Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Wells Fargo & Company reduced their price objective on Johnson & Johnson from $166.00 to $152.00 and set an "equal weight" rating for the company in a report on Thursday, January 23rd. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Johnson & Johnson in a report on Wednesday, April 16th. Nine 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 data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $171.82.

Johnson & Johnson Trading Down 0.3 %

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 $372.42 billion, a PE ratio of 23.24, a price-to-earnings-growth ratio of 2.56 and a beta of 0.49. The company's 50-day simple moving average is $159.48 and its 200 day simple moving average is $154.88.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its earnings results on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, beating analysts' consensus estimates of $2.59 by $0.18. The firm had revenue of $21.89 billion for the quarter, compared to analyst estimates of $21.65 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. As a group, sell-side analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $5.20 dividend on an annualized basis and a yield of 3.36%. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.24. Johnson & Johnson's payout ratio is 57.84%.

Insider Transactions at Johnson & Johnson

In other news, VP Robert J. Decker sold 6,999 shares of the firm's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the sale, the vice president now owns 21,001 shares of the company's stock, valued at approximately $3,483,645.88. This trade represents a 25.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Timothy Schmid sold 403 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total value of $62,928.45. Following the transaction, the executive vice president now directly owns 15,098 shares in the company, valued at approximately $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.

Hedge Funds Weigh In On Johnson & Johnson

Several hedge funds have recently added to or reduced their stakes in JNJ. MRP Capital Investments LLC grew its position in Johnson & Johnson by 4.1% during the fourth quarter. MRP Capital Investments LLC now owns 1,640 shares of the company's stock valued at $237,000 after acquiring an additional 65 shares during the period. Syverson Strege & Co increased its holdings in shares of Johnson & Johnson by 4.9% in the 4th quarter. Syverson Strege & Co now owns 1,394 shares of the company's stock valued at $202,000 after acquiring an additional 65 shares during the last quarter. Werba Rubin Papier Wealth Management raised its holdings in shares of Johnson & Johnson by 3.3% during the fourth quarter. Werba Rubin Papier Wealth Management now owns 2,080 shares of the company's stock worth $301,000 after purchasing an additional 66 shares during the period. Denali Advisors LLC boosted its stake in Johnson & Johnson by 1.3% in the fourth quarter. Denali Advisors LLC now owns 5,128 shares of the company's stock valued at $742,000 after acquiring an additional 67 shares during the period. Finally, Sage Mountain Advisors LLC increased its position in Johnson & Johnson by 0.5% in the fourth quarter. Sage Mountain Advisors LLC now owns 14,564 shares of the company's stock worth $2,106,000 after buying an additional 67 shares during the period. 69.55% of the stock is currently owned by hedge funds and other 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.