Johnson & Johnson (NYSE:JNJ) Trading 0.2% Higher - Here's What Happened

Johnson & Johnson (NYSE:JNJ - Get Free Report)'s share price shot up 0.2% during trading on Tuesday . The company traded as high as $155.38 and last traded at $155.25. 1,382,130 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 7,850,303 shares. The stock had previously closed at $155.00.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on JNJ shares. 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. The Goldman Sachs Group raised shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $157.00 to $172.00 in a research report on Wednesday, April 9th. Bank of America dropped their price target on Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Morgan Stanley upped 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, April 16th. Finally, Raymond James cut their target price on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $171.82.

Johnson & Johnson Stock Down 1.1 %

The company's 50-day simple moving average is $157.89 and its 200 day simple moving average is $154.37. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.11 and a quick ratio of 0.86. The firm has a market cap of $370.49 billion, a P/E ratio of 23.15, a price-to-earnings-growth ratio of 2.56 and a beta of 0.42.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its earnings results on Tuesday, April 15th. 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 during the quarter, compared to analysts' expectations of $21.65 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. Research analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.38%. This is an increase from Johnson & Johnson's previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Tuesday, May 27th. Johnson & Johnson's dividend payout ratio is presently 57.84%.

Insider Activity

In other news, EVP Timothy Schmid sold 403 shares of the firm's stock in a transaction 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 transaction, the executive vice president now owns 15,098 shares in the company, valued at approximately $2,357,552.70. This trade represents a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Robert J. Decker sold 6,999 shares of the firm's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the transaction, the vice president now directly owns 21,001 shares in the company, valued at $3,483,645.88. This trade represents a 25.00 % 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 large investors have recently bought and sold shares of the business. Ridgewood Investments LLC increased its position in shares of Johnson & Johnson by 14.9% during the fourth quarter. Ridgewood Investments LLC now owns 4,373 shares of the company's stock worth $632,000 after purchasing an additional 568 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Johnson & Johnson by 2.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 49,879 shares of the company's stock worth $7,214,000 after acquiring an additional 1,224 shares in the last quarter. Sage Capital Advisors llc grew its stake in shares of Johnson & Johnson by 0.5% during the fourth quarter. Sage Capital Advisors llc now owns 43,731 shares of the company's stock worth $6,324,000 after acquiring an additional 230 shares during the last quarter. Jacobs & Co. CA raised its position in shares of Johnson & Johnson by 0.3% in the 4th quarter. Jacobs & Co. CA now owns 56,569 shares of the company's stock valued at $8,181,000 after purchasing an additional 179 shares during the last quarter. Finally, HBW Advisory Services LLC boosted its stake in Johnson & Johnson by 2.2% in the 4th quarter. HBW Advisory Services LLC now owns 6,534 shares of the company's stock worth $945,000 after purchasing an additional 141 shares in the last quarter. Institutional investors 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.