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

Johnson & Johnson (NYSE:JNJ) shares fell 0.5% 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. 10,678,393 shares changed hands during trading, an increase of 55% from the average session volume of 6,880,262 shares. The stock had previously closed at $147.77.

JNJ has been the subject of several other research reports. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Wells Fargo & Company increased their price target on shares of Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Guggenheim increased 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. Citigroup dropped their price target on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Finally, 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. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $174.29.

Insiders Place Their Bets

In related news, Director Mark A. Weinberger purchased 1,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were purchased at an average cost of $147.22 per share, with a total value of $147,220.00. Following the transaction, the director now directly owns 1,000 shares in the company, valued at $147,220. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.16% of the company’s stock.

Institutional Trading of Johnson & Johnson

A number of hedge funds have recently made changes to their positions in the stock. IFS Advisors LLC lifted its position in Johnson & Johnson by 138.9% in the 4th quarter. IFS Advisors LLC now owns 172 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares in the last quarter. Highline Wealth Partners LLC purchased a new stake in Johnson & Johnson during the 3rd quarter valued at $31,000. RPg Family Wealth Advisory LLC purchased a new stake in Johnson & Johnson during the 3rd quarter valued at $35,000. Mowery & Schoenfeld Wealth Management LLC boosted its stake in Johnson & Johnson by 58.7% during 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 during the last quarter. Finally, Activest Wealth Management purchased a new stake in Johnson & Johnson during the 3rd quarter valued at $40,000. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Trading Down 0.5 %

The firm has a 50 day simple moving average of $148.51 and a 200 day simple moving average of $156.10. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $353.99 billion, a PE ratio of 21.28, a P/E/G ratio of 2.30 and a beta of 0.51.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $1.24 per share. The ex-dividend date is Tuesday, February 18th. This represents a $4.96 annualized dividend and a yield of 3.37%. Johnson & Johnson’s dividend payout ratio 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.