Johnson & Johnson (NYSE:JNJ) Given New $152.00 Price Target at Wells Fargo & Company

Johnson & Johnson (NYSE:JNJ) had its target price decreased by Wells Fargo & Company from $166.00 to $152.00 in a research note issued to investors on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other research analysts have also recently issued research reports about the stock. Morgan Stanley increased their target price on shares of Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Wolfe Research assumed coverage on shares of Johnson & Johnson in a research note on Friday, November 15th. They issued an “outperform” rating and a $190.00 price objective for the company. Guggenheim boosted their target price on shares of Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Finally, Raymond James reduced their price objective on Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating on the stock in a research report on Thursday. Nine equities research analysts have rated the stock with a hold rating and nine have assigned 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 $170.06.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $146.58 on Thursday. The firm’s 50 day simple moving average is $148.10 and its 200 day simple moving average is $156.05. The firm has a market capitalization of $352.91 billion, a price-to-earnings ratio of 21.21, a P/E/G ratio of 2.52 and a beta of 0.51. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $168.85.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.05. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The firm had revenue of $22.52 billion for the quarter, compared to the consensus estimate of $22,438,500 billion. During the same quarter last year, the business posted $2.29 EPS. The company’s revenue was up 5.3% compared to the same quarter last year. As a group, research analysts expect that Johnson & Johnson will post 9.95 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given a dividend of $1.24 per share. The ex-dividend date is Tuesday, February 18th. This represents a $4.96 annualized dividend and a dividend yield of 3.38%. Johnson & Johnson’s payout ratio is 71.78%.

Insiders Place Their Bets

In related news, Director Mark A. Weinberger bought 1,000 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average cost of $147.22 per share, with a total value of $147,220.00. Following the completion of the purchase, the director now directly owns 1,000 shares in the company, valued at $147,220. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Johnson & Johnson

Several institutional investors have recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. grew its stake in shares of Johnson & Johnson by 131.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 19,997 shares of the company’s stock valued at $2,892,000 after buying an additional 11,348 shares during the period. Chicago Partners Investment Group LLC grew its stake in Johnson & Johnson by 6.3% in the fourth quarter. Chicago Partners Investment Group LLC now owns 18,536 shares of the company’s stock valued at $2,637,000 after acquiring an additional 1,100 shares during the period. Clear Creek Financial Management LLC raised its position in shares of Johnson & Johnson by 25.1% during the fourth quarter. Clear Creek Financial Management LLC now owns 7,641 shares of the company’s stock worth $1,105,000 after purchasing an additional 1,535 shares during the period. Heck Capital Advisors LLC bought a new position in shares of Johnson & Johnson in the 4th quarter worth $1,108,000. Finally, Austin Private Wealth LLC increased its stake in Johnson & Johnson by 18.7% during the 4th quarter. Austin Private Wealth LLC now owns 9,910 shares of the company’s stock valued at $1,433,000 after purchasing an additional 1,559 shares in 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.