Johnson & Johnson (NYSE:JNJ) Stock Price Up 0.9% - Here's What Happened

Shares of Johnson & Johnson (NYSE:JNJ) experienced a rise of 0.9% on Wednesday, reaching a high of $144.67 before settling at $144.62. During the trading day, a total of approximately 5,810,552 shares exchanged hands, which reflects a 19% decrease compared to the average daily volume of 7,169,257 shares. The stock had previously closed at $143.34.

New Price Targets Set by Analysts

In recent evaluations, several analysts have revised their price targets for Johnson & Johnson. Morgan Stanley increased their target from $169.00 to $175.00, maintaining an "equal weight" rating in their research note dated October 16th. Similarly, Wells Fargo & Company raised their price target from $163.00 to $166.00, also assigning an "equal weight" rating on the same date. Royal Bank of Canada adjusted their price objective from $178.00 to $181.00, giving it an "outperform" rating. Furthermore, Wolfe Research initiated coverage with an "outperform" rating and set a target price of $190.00. Lastly, StockNews.com upgraded their rating from "buy" to "strong-buy" in September. Overall, the consensus rating for Johnson & Johnson stocks stands at "Moderate Buy" with an average price target of $174.73, according to MarketBeat.

Understanding Johnson & Johnson's Price Performance

Johnson & Johnson's financial metrics include a debt-to-equity ratio of 0.45, a current ratio of 1.03, and a quick ratio of 0.79. The company's 50-day moving average is noted at $152.55, and the 200-day moving average is $156.31. Presently, Johnson & Johnson's market capitalization is $348.19 billion, with a price-to-earnings (P/E) ratio of 20.93 and a price-to-earnings growth (PEG) ratio of 2.52. The company's beta, indicating volatility, is at 0.51.

Johnson & Johnson reported its quarterly earnings results on October 15th, revealing earnings per share (EPS) of $2.42, surpassing expectations of $2.21 by $0.21. The company achieved a net margin of 19.14% and a return on equity of 35.45%. They generated $22.47 billion in revenue for the quarter, exceeding analyst predictions of $22.17 billion. Notably, this reflects a yearly increase of 5.2%, although it is lower compared to the EPS of $2.66 from the previous year. Analysts predict that Johnson & Johnson is expected to report a total EPS of 9.94 for the current financial year.

Recent Dividend Announcement

The company has also made announcements regarding dividends. A quarterly dividend was declared and paid on December 10th, with shareholders of record on November 26th receiving a $1.24 per share dividend. This equates to an annual dividend of $4.96, yielding a dividend yield of 3.43%. The ex-dividend date was set for November 26th, indicating a payout ratio of 71.78%.

Insider Activity Report

In related news, Director Mark A. Weinberger acquired 1,000 shares of the company on December 12th at an average price of $147.22 per share, totaling a purchase price of $147,220. This purchase increased his holdings to 1,000 shares valued at approximately $147,220. This transaction was filed with the SEC, revealing that insiders currently own 0.16% of the company's stock.

Institutional Investors' Involvement

Several large investors have recently adjusted their stakes in Johnson & Johnson. Highline Wealth Partners LLC initiated a new investment valued at $31,000 during the third quarter. Similarly, RPg Family Wealth Advisory LLC and Mowery & Schoenfeld Wealth Management LLC made new acquisitions during the same period, worth approximately $35,000 and $40,000, respectively. Mowery & Schoenfeld increased its stake by 58.7%, owning a total of 246 shares valued at $40,000. Moreover, Morton Brown Family Wealth LLC enhanced its holdings by 400%, increasing ownership to 250 shares worth $41,000. Overall, institutional investors own about 69.55% of the company's stock.

About Johnson & Johnson

Johnson & Johnson, along with its subsidiaries, operates in multiple healthcare domains. The Innovative Medicine segment offers a diverse array of products addressing various therapeutic areas, including immunology, infectious diseases, neuroscience, oncology, cardiovascular disorders, and more, primarily through healthcare professionals and retailers.

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