Johnson & Johnson (NYSE:JNJ) Stock Price Down 0.5% Following Analyst Downgrade

Johnson & Johnson (NYSE:JNJ) dropped 0.5% during trading on Monday after Bank of America lowered their price target on the stock from $166.00 to $160.00. Bank of America currently has a neutral rating on the stock. Johnson & Johnson traded as low as $146.61 and last traded at $147.03. Approximately 10,678,393 shares changed hands during trading, an increase of 55% from the average daily volume of 6,880,262 shares. The stock had previously closed at $147.77.

A number of other research firms have also recently weighed in on JNJ. Wells Fargo & Company boosted their target price on shares of Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Royal Bank of Canada boosted their price target on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Citigroup lowered their price target on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Finally, Guggenheim boosted their price target on shares of Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.29.

Insider Buying and Selling

In related news, Director Mark A. Weinberger purchased 1,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were purchased at an average price of $147.22 per share, with a total value of $147,220.00. Following the acquisition, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $147,220. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Johnson & Johnson

Institutional investors have recently made changes to their positions in the stock. IFS Advisors LLC increased its holdings in shares of Johnson & Johnson by 138.9% in the 4th quarter. IFS Advisors LLC now owns 172 shares of the company’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Highline Wealth Partners LLC bought a new position in shares of Johnson & Johnson in the 3rd quarter worth $31,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Johnson & Johnson in the 3rd quarter valued at $35,000. Mowery & Schoenfeld Wealth Management LLC boosted its stake in shares of Johnson & Johnson by 58.7% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after purchasing an additional 91 shares in the last quarter. Finally, Activest Wealth Management purchased a new stake in shares of Johnson & Johnson in the 3rd quarter valued at $40,000. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Down 0.5 %

The company has a market cap of $353.99 billion, a PE ratio of 21.28, a PEG ratio of 2.30 and a beta of 0.51. The stock’s 50 day moving average price is $148.51 and its 200-day moving average price is $156.10. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be paid a $1.24 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.37%. Johnson & Johnson’s dividend payout ratio (DPR) is 71.78%.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.