Johnson & Johnson Director Purchases $147,220 in Stock

Mark A. Weinberger, a director at Johnson & Johnson (NYSE:JNJ), has made a significant investment in the company by acquiring 1,000 shares of its stock on Thursday, December 12th. The shares were bought at an average price of $147.22, totaling $147,220 for the transaction. With this acquisition, Weinberger now directly holds 1,000 shares, also valued at $147,220, marking an increase in his stake in the company. This transaction was recorded in a public filing with the Securities and Exchange Commission (SEC).

Current Market Trends

On the trading day following the acquisition, Johnson & Johnson shares fell by 0.3%, closing at $146.23. A total of 6,174,458 shares traded hands, slightly below the average trading volume of 7,118,662 shares. Over the past year, the stock has reached a low of $143.13 and a high of $168.85. Currently, Johnson & Johnson boasts a market capitalization of $352.07 billion with a price-to-earnings ratio of 21.28 and a beta of 0.51. Its 50-day moving average is $157.29, while the 200-day moving average stands at $156.35.

Recent Earnings Report

Johnson & Johnson recently released its quarterly earnings report on October 15th, revealing earnings of $2.42 per share, surpassing analysts' expectations of $2.21 by $0.21. Quarterly revenue stood at $22.47 billion, exceeding the forecast of $22.17 billion. The company's net margin was reported at 19.14%, with a remarkable return on equity of 35.45%. Additionally, revenue grew by 5.2% compared to the prior year’s quarter.

Dividend Announcement

The company also recently declared a quarterly dividend, which was distributed on December 10th. Shareholders who were on record as of November 26th received a dividend of $1.24, translating to an annualized dividend of $4.96 and a yield of 3.39%. The dividend payout ratio for Johnson & Johnson is 71.78%.

Institutional Trading Activity

There has been notable activity among institutional investors concerning Johnson & Johnson stock. For instance, State Street Corp increased its holdings by 0.9% in the third quarter, now possessing over 134 million shares. Simultaneously, Geode Capital Management LLC boosted its stake by 1.8% and Massachusetts Financial Services grew its position by 10.8%. Overall, institutional ownership of Johnson & Johnson stands at about 69.55%.

Analysts' Outlook

Several analysts have revised their ratings and target prices regarding Johnson & Johnson in recent weeks. Citigroup lowered its target price from $185.00 to $175.00, reiterating a "buy" rating. Wolfe Research began coverage with an "outperform" rating and a $190.00 target price. In a comparable fashion, Wells Fargo increased its target from $163.00 to $166.00, maintaining an "equal weight" rating. Analysts currently rate Johnson & Johnson as a "Moderate Buy" with an average target price of $174.73, considering the consensus of seven buy ratings and one strong buy rating among investment analysts.

Company Overview

Johnson & Johnson is a multinational corporation that develops, manufactures, and sells varied healthcare products globally. Its Innovative Medicine segment deals with a wide range of therapeutic areas including immunology, infectious diseases, neuroscience, oncology, and cardiovascular medicine, providing products to healthcare professionals and consumers alike.

investment, stock, acquisition