Fintel reports that on October 5, 2023, RBC Capital initiated coverage of Johnson & Johnson (NYSE:JNJ) with a Outperform recommendation.
Analyst Price Forecast Suggests 18.61% Upside
As of October 5, 2023, the average one-year price target for Johnson & Johnson is 184.47. The forecasts range from a low of 159.58 to a high of $225.75. The average price target represents an increase of 18.61% from its latest reported closing price of 155.52.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Johnson & Johnson is 98,624MM, an increase of 0.87%. The projected annual non-GAAP EPS is 10.50.
Johnson & Johnson Declares $1.19 Dividend
On July 20, 2023 the company declared a regular quarterly dividend of $1.19 per share ($4.76 annualized). Shareholders of record as of August 28, 2023 received the payment on September 7, 2023. Previously, the company paid $1.19 per share.
At the current share price of $155.52 / share, the stock's dividend yield is 3.06%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.68%, the lowest has been 2.28%, and the highest has been 3.42%. The standard deviation of yields is 0.18 (n=236).
The current dividend yield is 2.17 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.88. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.18%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 5153 funds or institutions reporting positions in Johnson & Johnson. This is an increase of 3 owner(s) or 0.06% in the last quarter. Average portfolio weight of all funds dedicated to JNJ is 1.07%, an increase of 2.29%. Total shares owned by institutions increased in the last three months by 0.80% to 1,972,167K shares. 
The put/call ratio of JNJ is 0.83, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 81,049K shares representing 3.37% ownership of the company. In it's prior filing, the firm reported owning 80,616K shares, representing an increase of 0.53%. The firm decreased its portfolio allocation in JNJ by 0.95% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 61,874K shares representing 2.57% ownership of the company. In it's prior filing, the firm reported owning 61,006K shares, representing an increase of 1.40%. The firm decreased its portfolio allocation in JNJ by 1.91% over the last quarter.
Geode Capital Management holds 49,698K shares representing 2.06% ownership of the company. In it's prior filing, the firm reported owning 48,708K shares, representing an increase of 1.99%. The firm decreased its portfolio allocation in JNJ by 1.44% over the last quarter.
Jpmorgan Chase holds 31,782K shares representing 1.32% ownership of the company. In it's prior filing, the firm reported owning 25,724K shares, representing an increase of 19.06%. The firm increased its portfolio allocation in JNJ by 837.28% over the last quarter.
State Farm Mutual Automobile Insurance holds 31,675K shares representing 1.32% ownership of the company. No change in the last quarter.
Johnson & Johnson Background Information
(This description is provided by the company.)
Johnson & Johnson believes good health is the foundation of vibrant lives, thriving communities and forward progress. That’s why for more than 130 years, Johnson & Johnson has aimed to keep people well at every age and every stage of life. Today, as the world’s largest and most broadly-based healthcare company, Johnson & Johnson is committed to using its reach and size for good. Johnson & Johnson strives to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. Johnson & Johnson is blending our heart, science and ingenuity to profoundly change the trajectory of health for humanity.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
