Dow Component Johnson & Johnson (JNJ) To Go Ex-dividend Tomorrow

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

The Dow Jones Industrial Average ( ^DJI) is trading up 59 points (+0.4%) at 14,956 as of Thursday, Aug 22, 2013, 10:35 a.m. ET. During this time, 149.8 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 549.9 million. The NYSE advances/declines ratio sits at 2,424 issues advancing vs. 451 declining with 67 unchanged.
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Friday, August 23, 2013 is the ex-dividend date for Dow component Johnson & Johnson (NYSE: JNJ). Owners of shares as of market close today will be eligible for a dividend of 66 cents per share. At a price of $88.32 as of 10:35 a.m. ET, the dividend yield is 2.9% compared to the average Dow component yield of 2.7%.

The average volume for Johnson & Johnson has been 9.9 million shares per day over the past 30 days. Johnson & Johnson has a market cap of $252.87 billion and is part of the health care sector and drugs industry. Shares are up 26.7% year to date as of Wednesday's close.

Johnson & Johnson, together with its subsidiaries, engages in the research and development, manufacture, and sale of various products in the health care field worldwide. The company operates in three segments: Consumer, Pharmaceutical, and Medical Devices and Diagnostics. The company has a P/E ratio of 19.9, equal to the average drugs industry P/E ratio.
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TheStreet Ratings rates Johnson & Johnson as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.

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