Johnson & Johnson (NYSE:JNJ) Stock Price Up 0.4% After Earnings Beat

Shares of Johnson & Johnson (NYSE:JNJ) traded up 0.4% on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $155.63 and last traded at $154.29. 1,979,675 shares were traded during mid-day trading, a decline of 80% from the average session volume of 9,843,281 shares. The stock had previously closed at $153.62.

The company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.18. The business had revenue of $21.89 billion for the quarter, compared to the consensus estimate of $21.65 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend is Tuesday, May 27th. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.24. Johnson & Johnson’s payout ratio is currently 74.59%.

Wall Street Analyst Weigh In

JNJ has been the subject of several analyst reports. Wells Fargo & Company cut their price target 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. Barclays upped their target price on Johnson & Johnson from $159.00 to $166.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 28th. Bank of America decreased 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. The Goldman Sachs Group raised shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and upped their price objective for the company from $157.00 to $172.00 in a research note on Wednesday, April 9th. Finally, Guggenheim reissued a “neutral” rating on shares of Johnson & Johnson in a research report on Wednesday, April 2nd. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $171.78.

Insider Activity at Johnson & Johnson

In related news, EVP Timothy Schmid sold 403 shares of Johnson & Johnson stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $156.15, for a total transaction of $62,928.45. Following the sale, the executive vice president now owns 15,098 shares of the company’s stock, valued at $2,357,552.70. The trade was a 2.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Robert J. Decker sold 6,999 shares of the business’s stock in a transaction on 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 completion of the transaction, the vice president now owns 21,001 shares in the company, valued at $3,483,645.88. This represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Johnson & Johnson

Several institutional investors and hedge funds have recently made changes to their positions in JNJ. IFS Advisors LLC grew its holdings in Johnson & Johnson by 138.9% during the 4th quarter. IFS Advisors LLC now owns 172 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares in the last quarter. WealthTrak Capital Management LLC acquired a new position in Johnson & Johnson in the fourth quarter worth about $26,000. Mountain Hill Investment Partners Corp. bought a new stake in Johnson & Johnson in the fourth quarter valued at about $29,000. Bay Harbor Wealth Management LLC acquired a new stake in Johnson & Johnson during the fourth quarter valued at approximately $32,000. Finally, Conquis Financial LLC bought a new position in Johnson & Johnson during the 4th quarter worth approximately $33,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Trading Up 0.2 %

The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. The company has a market cap of $371.00 billion, a price-to-earnings ratio of 23.15, a price-to-earnings-growth ratio of 2.56 and a beta of 0.49. The firm has a 50-day moving average price of $159.40 and a 200 day moving average price of $155.10.

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.