Acadian Asset Management LLC Purchases 416,748 Shares of Johnson & Johnson $JNJ

Acadian Asset Management LLC increased its position in shares of Johnson & Johnson (NYSE:JNJ) by 34.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,617,173 shares of the company’s stock after purchasing an additional 416,748 shares during the period. Acadian Asset Management LLC owned 0.07% of Johnson & Johnson worth $246,993,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of JNJ. GFG Capital LLC bought a new position in shares of Johnson & Johnson in the second quarter worth about $35,000. Stone House Investment Management LLC purchased a new position in Johnson & Johnson in the 1st quarter worth approximately $47,000. 1248 Management LLC bought a new position in Johnson & Johnson in the 1st quarter worth approximately $48,000. Harvest Fund Management Co. Ltd purchased a new stake in Johnson & Johnson during the 1st quarter valued at approximately $52,000. Finally, Pandora Wealth Inc. purchased a new stake in Johnson & Johnson during the 1st quarter valued at approximately $65,000. Institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

JNJ has been the subject of a number of research reports. Piper Sandler restated an “overweight” rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. UBS Group boosted their price target on shares of Johnson & Johnson from $190.00 to $214.00 and gave the stock a “buy” rating in a research note on Tuesday, October 14th. Johnson Rice set a $190.00 price objective on shares of Johnson & Johnson and gave the company a “hold” rating in a report on Wednesday, October 22nd. Guggenheim raised Johnson & Johnson from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $167.00 to $206.00 in a report on Tuesday, September 23rd. Finally, Bank of America boosted their target price on Johnson & Johnson from $198.00 to $204.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and an average price target of $199.05.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $186.50 on Friday. The firm has a market capitalization of $449.34 billion, a PE ratio of 18.00, a PEG ratio of 2.19 and a beta of 0.38. The stock’s fifty day moving average is $184.25 and its 200 day moving average is $168.70. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $194.48. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.80 and a current ratio of 1.07.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. The business had revenue of $24.02 billion for the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 32.73%. On average, sell-side analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Tuesday, November 25th. Johnson & Johnson’s payout ratio is 50.19%.

Insider Activity at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $177.81, for a total value of $10,041,108.51. Following the sale, the executive vice president directly owned 178,013 shares in the company, valued at approximately $31,652,491.53. This represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company’s stock.

About Johnson & Johnson

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.