Johnson & Johnson (NYSE:JNJ) Shares Up 1.6% After Strong Earnings

Johnson & Johnson (NYSE:JNJ)’s share price shot up 1.6% during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $147.66 and last traded at $147.63. 2,599,967 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 8,890,007 shares. The stock had previously closed at $145.27.

The company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.05. The firm had revenue of $22.52 billion during the quarter, compared to analysts’ expectations of $22,438,500 billion. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.29 EPS.

Johnson & Johnson Dividend Announcement

The business also recently declared 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. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 71.78%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on JNJ. Wells Fargo & Company reduced their price target on shares of Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating for the company in a report on Thursday. Bank of America reduced their price target on Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating for the company in a research report on Thursday. Guggenheim boosted their price target on shares of Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Barclays reduced their price target on Johnson & Johnson from $160.00 to $159.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, Morgan Stanley upped their price objective on Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Johnson & Johnson presently has an average rating of “Moderate Buy” and an average target price of $170.72.

Insider Activity at Johnson & Johnson

In related news, Director Mark A. Weinberger bought 1,000 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were acquired at an average cost of $147.22 per share, for a total transaction of $147,220.00. Following the purchase, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $147,220. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. IFS Advisors LLC grew its stake in shares of 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 purchasing an additional 100 shares during the period. Highline Wealth Partners LLC purchased a new stake in Johnson & Johnson in the third quarter valued at $31,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Johnson & Johnson during the third quarter valued at about $35,000. Mowery & Schoenfeld Wealth Management LLC grew its stake in shares of Johnson & Johnson by 58.7% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after buying an additional 91 shares in the last quarter. Finally, Activest Wealth Management acquired a new position in Johnson & Johnson during the 3rd quarter worth $40,000. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Trading Up 1.6 %

The company’s 50-day moving average price is $148.10 and its 200-day moving average price is $156.05. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03. The firm has a market capitalization of $355.41 billion, a PE ratio of 21.35, a PEG ratio of 2.52 and a beta of 0.51.

Johnson & Johnson Company Profile

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.