Wells Fargo & Company Cuts Johnson & Johnson (NYSE:JNJ) Price Target to $152.00

Johnson & Johnson (NYSE:JNJ) had its price objective cut by Wells Fargo & Company from $166.00 to $152.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research analysts have also weighed in on the company. Wolfe Research started coverage on Johnson & Johnson in a report on Friday, November 15th. They set an “outperform” rating and a $190.00 price objective on the stock. Bank of America lowered their price target on shares of Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating on the stock in a research note on Thursday. Royal Bank of Canada boosted their price objective on shares of Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. StockNews.com cut shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Friday, January 17th. Finally, Citigroup lowered their price target on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $170.06.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $146.76 on Thursday. The stock has a market capitalization of $353.34 billion, a P/E ratio of 22.07, a P/E/G ratio of 2.45 and a beta of 0.51. 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 has a 1 year low of $140.68 and a 1 year high of $168.85. The company’s fifty day moving average is $147.85 and its two-hundred day moving average is $155.99.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.05. The business had revenue of $22.52 billion for the quarter, compared to analyst estimates of $22,438,500 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.35%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.29 earnings per share. On average, sell-side analysts predict that Johnson & Johnson will post 10.56 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The firm also recently declared 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. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio is presently 74.59%.

Insider Activity

In other Johnson & Johnson news, Director Mark A. Weinberger purchased 1,000 shares of the firm’s stock in a transaction on 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 purchase, the director now owns 1,000 shares in the company, valued at approximately $147,220. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Johnson & Johnson

Hedge funds have recently modified their holdings of the stock. IFS Advisors LLC increased its holdings 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 buying an additional 100 shares during the last quarter. Highline Wealth Partners LLC purchased a new stake in Johnson & Johnson during the third quarter valued at about $31,000. RPg Family Wealth Advisory LLC acquired a new stake in Johnson & Johnson during the third quarter worth about $35,000. Mowery & Schoenfeld Wealth Management LLC raised its holdings 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 worth $40,000 after purchasing an additional 91 shares during the period. Finally, Activest Wealth Management purchased a new stake in shares of Johnson & Johnson during the 3rd quarter worth about $40,000. 69.55% of the stock is owned by institutional investors and hedge funds.

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.