Johnson & Johnson (NYSE:JNJ) Given New $230.00 Price Target at Wells Fargo & Company

Johnson & Johnson (NYSE:JNJ) had its price target upped by Wells Fargo & Company from $212.00 to $230.00 in a research note published on Friday,MarketScreener reports. They currently have an overweight rating on the stock.

Several other research analysts have also recently weighed in on JNJ. Daiwa America raised shares of Johnson & Johnson from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. The Goldman Sachs Group raised their price objective on shares of Johnson & Johnson from $186.00 to $212.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Scotiabank began coverage on Johnson & Johnson in a research note on Thursday, November 13th. They issued a “sector outperform” rating and a $230.00 target price on the stock. Wall Street Zen raised Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. Finally, JPMorgan Chase & Co. increased their price target on shares of Johnson & Johnson from $185.00 to $200.00 and gave the company a “neutral” rating in a research report on Tuesday, September 16th. Four analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus target price of $207.55.

Johnson & Johnson Price Performance

Shares of JNJ traded up $1.64 during midday trading on Friday, hitting $211.65. 6,919,148 shares of the company traded hands, compared to its average volume of 9,422,986. The stock has a 50-day moving average of $196.09 and a 200-day moving average of $177.08. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.07 and a quick ratio of 0.80. Johnson & Johnson has a one year low of $140.68 and a one year high of $212.27. The firm has a market cap of $509.93 billion, a P/E ratio of 20.43, a PEG ratio of 2.34 and a beta of 0.36.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share (EPS) for the quarter. The business had revenue of $24.02 billion for the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 32.73%. As a group, sell-side analysts predict that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, November 25th. This represents a $5.20 annualized dividend and a yield of 2.5%. Johnson & Johnson’s dividend payout ratio is presently 50.19%.

Institutional Trading of Johnson & Johnson

Large investors have recently modified their holdings of the business. Saranac Partners Ltd purchased a new stake in Johnson & Johnson in the 3rd quarter worth approximately $275,000. Allworth Financial LP lifted its position in shares of Johnson & Johnson by 2.3% in the 3rd quarter. Allworth Financial LP now owns 381,319 shares of the company’s stock worth $70,704,000 after purchasing an additional 8,640 shares during the period. IFP Advisors Inc increased its position in shares of Johnson & Johnson by 2.1% during the third quarter. IFP Advisors Inc now owns 32,442 shares of the company’s stock valued at $6,016,000 after buying an additional 654 shares during the period. Steadtrust LLC raised its stake in Johnson & Johnson by 10.4% in the third quarter. Steadtrust LLC now owns 2,735 shares of the company’s stock worth $507,000 after buying an additional 258 shares in the last quarter. Finally, Stillwater Wealth Management Group purchased a new stake in Johnson & Johnson in the third quarter worth about $375,000. 69.55% of the stock is owned by institutional investors.

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.