“Johnson & Johnson (SYM: JNJ) is starting to pivot from triple-bottom support dating back to November. Analysts at HSBC like it here, too, upgrading JNJ shares to a buy rating with a price target of $170,” we said on April 25.
At the time, JNJ traded at around $148 on excessive fear. Today, it’s up to $154.21 and gaining momentum. Making the stock even more attractive, JNJ recently announced that its Board of Directors has declared a 4.2% increase in the quarterly dividend, from $1.19 per share to $1.24 per share, marking the 62nd year of consecutive increases.
It’s payable on June 4, 2024 to shareholders of record at the close of business on May 21, 2024. The ex-dividend date is May 20, 2024. HSBC also upgraded Johnson & Johnson to a buy rating with a price target of $170, up from $169.
