Johnson & Johnson (NYSE:JNJ) Shares Down 0.2% Following Analyst Downgrade

Johnson & Johnson (NYSE:JNJ)’s stock price traded down 0.2% during mid-day trading on Friday 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 $147.48. 3,098,640 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 7,846,918 shares. The stock had previously closed at $147.77.

JNJ has been the topic of a number of other research reports. Wells Fargo & Company boosted their target price on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Guggenheim upped their price objective 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. StockNews.com downgraded Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Friday. Morgan Stanley upped their price target on Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Johnson & Johnson has an average rating of “Moderate Buy” and a consensus target price of $174.29.

Insider Buying and Selling

In other Johnson & Johnson news, Director Mark A. Weinberger purchased 1,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 1,000 shares in the company, valued at approximately $147,220. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.16% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Johnson & Johnson

A number of institutional investors and hedge funds have recently bought and sold shares of JNJ. Vinva Investment Management Ltd lifted its position in Johnson & Johnson by 6.8% during the 3rd quarter. Vinva Investment Management Ltd now owns 111,448 shares of the company’s stock worth $17,988,000 after buying an additional 7,110 shares in the last quarter. Financial Counselors Inc. lifted its position in shares of Johnson & Johnson by 5.3% during the third quarter. Financial Counselors Inc. now owns 185,093 shares of the company’s stock worth $29,996,000 after purchasing an additional 9,309 shares in the last quarter. Meridian Investment Counsel Inc. grew its stake in shares of Johnson & Johnson by 19.6% during the third quarter. Meridian Investment Counsel Inc. now owns 22,629 shares of the company’s stock valued at $3,667,000 after purchasing an additional 3,710 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Johnson & Johnson by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock valued at $2,858,543,000 after purchasing an additional 102,502 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in Johnson & Johnson during the 3rd quarter worth $69,859,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

The stock has a 50-day simple moving average of $148.51 and a 200 day simple moving average of $155.96. The stock has a market capitalization of $353.99 billion, a P/E ratio of 21.28, a price-to-earnings-growth ratio of 2.30 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given a $1.24 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a yield of 3.37%. Johnson & Johnson’s 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.