Johnson & Johnson (NYSE:JNJ) announced a quarterly dividend on Thursday, October 18th, RTT News reports. Investors of record on Tuesday, November 27th will be given a dividend of 0.90 per share on Tuesday, December 11th. This represents a $3.60 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend is Monday, November 26th.
Johnson & Johnson has raised its dividend payment by an average of 6.4% annually over the last three years and has increased its dividend annually for the last 55 consecutive years. Johnson & Johnson has a dividend payout ratio of 44.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Johnson & Johnson to earn $8.66 per share next year, which means the company should continue to be able to cover its $3.60 annual dividend with an expected future payout ratio of 41.6%.
Shares of NYSE JNJ traded up $0.04 during mid-day trading on Friday, hitting $145.34. 5,343,128 shares of the stock traded hands, compared to its average volume of 7,921,995. The company has a quick ratio of 1.40, a current ratio of 1.72 and a debt-to-equity ratio of 0.46. Johnson & Johnson has a twelve month low of $118.62 and a twelve month high of $148.32. The company has a market cap of $388.35 billion, a price-to-earnings ratio of 19.91, a price-to-earnings-growth ratio of 2.26 and a beta of 0.58.
Several equities research analysts recently weighed in on the company. Jefferies Financial Group set a $145.00 price objective on Johnson & Johnson and gave the company a “buy” rating in a report on Sunday, July 15th. HC Wainwright reaffirmed a “buy” rating on shares of Johnson & Johnson in a report on Wednesday, October 17th. Wells Fargo & Co reaffirmed an “outperform” rating and set a $160.00 target price (up from $155.00) on shares of Johnson & Johnson in a report on Wednesday, October 17th. ValuEngine raised Johnson & Johnson from a “sell” rating to a “hold” rating in a report on Saturday, July 28th. Finally, Raymond James lifted their target price on Johnson & Johnson from $144.00 to $149.00 and gave the stock an “outperform” rating in a report on Wednesday, October 17th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $142.54.
In other news, CAO Ronald A. Kapusta sold 7,899 shares of Johnson & Johnson stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $137.18, for a total value of $1,083,584.82. Following the completion of the transaction, the chief accounting officer now directly owns 25,725 shares of the company’s stock, valued at approximately $3,528,955.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Michael E. Sneed sold 29,000 shares of Johnson & Johnson stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $134.80, for a total value of $3,909,200.00. Following the completion of the transaction, the chief operating officer now directly owns 59,124 shares of the company’s stock, valued at $7,969,915.20. The disclosure for this sale can be found here. Insiders have sold a total of 85,340 shares of company stock worth $11,992,396 over the last ninety days. Company insiders own 0.22% of the company’s stock.
Several hedge funds have recently bought and sold shares of JNJ. Phocas Financial Corp. raised its position in shares of Johnson & Johnson by 999,927.7% in the 2nd quarter. Phocas Financial Corp. now owns 129,463,583 shares of the company’s stock worth $1,571,000 after acquiring an additional 129,450,637 shares in the last quarter. Glenmede Trust Co. NA increased its position in Johnson & Johnson by 149.8% in the 2nd quarter. Glenmede Trust Co. NA now owns 22,174,682 shares of the company’s stock valued at $2,690,676,000 after buying an additional 13,295,992 shares in the last quarter. Charles Schwab Investment Advisory Inc. bought a new stake in Johnson & Johnson in the 2nd quarter valued at about $383,285,000. BlackRock Inc. increased its position in Johnson & Johnson by 1.7% in the 2nd quarter. BlackRock Inc. now owns 178,310,265 shares of the company’s stock valued at $21,636,166,000 after buying an additional 2,921,241 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Johnson & Johnson by 191.2% in the 2nd quarter. Renaissance Technologies LLC now owns 3,740,300 shares of the company’s stock valued at $453,848,000 after buying an additional 2,455,901 shares in the last quarter. 66.60% of the stock is owned by hedge funds and other institutional investors.
Johnson & Johnson Company Profile
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. Its Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, RoC, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.
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