Pacer Advisors Inc. Acquires 81,343 Shares of Johnson & Johnson (NYSE:JNJ)

Posted by on May 4th, 2023

Pacer Advisors Inc. lifted its holdings in Johnson & Johnson (NYSE:JNJ – Get Rating) by 804.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 91,459 shares of the company’s stock after acquiring an additional 81,343 shares during the period. Pacer Advisors Inc.’s holdings in Johnson & Johnson were worth $16,156,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in JNJ. Glassy Mountain Advisors Inc. purchased a new stake in shares of Johnson & Johnson in the fourth quarter worth about $35,000. Retirement Financial Solutions LLC purchased a new stake in shares of Johnson & Johnson in the fourth quarter worth about $40,000. TD Capital Management LLC purchased a new stake in shares of Johnson & Johnson in the third quarter worth about $48,000. VitalStone Financial LLC purchased a new stake in shares of Johnson & Johnson in the fourth quarter worth about $52,000. Finally, Iron Horse Wealth Management LLC raised its position in Johnson & Johnson by 112.8% during the fourth quarter. Iron Horse Wealth Management LLC now owns 300 shares of the company’s stock valued at $53,000 after purchasing an additional 159 shares during the period. Institutional investors own 67.94% of the company’s stock.

Johnson & Johnson Stock Down 1.3 %

Shares of NYSE:JNJ opened at $162.87 on Thursday. Johnson & Johnson has a 52-week low of $150.11 and a 52-week high of $183.35. The stock has a market cap of $424.16 billion, a P/E ratio of 34.07, a price-to-earnings-growth ratio of 2.78 and a beta of 0.53. The business’s 50 day moving average is $158.10 and its 200 day moving average is $167.02. The company has a quick ratio of 0.77, a current ratio of 0.99 and a debt-to-equity ratio of 0.35.

Johnson & Johnson (NYSE:JNJ – Get Rating) last announced its quarterly earnings data on Tuesday, April 18th. The company reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.17. Johnson & Johnson had a return on equity of 35.53% and a net margin of 13.22%. The company had revenue of $24.75 billion for the quarter, compared to analysts’ expectations of $23.61 billion. During the same quarter in the prior year, the firm earned $2.67 earnings per share. Johnson & Johnson’s revenue was up 5.6% compared to the same quarter last year. Sell-side analysts predict that Johnson & Johnson will post 10.66 EPS for the current year.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 6th. Shareholders of record on Tuesday, May 23rd will be given a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a yield of 2.92%. The ex-dividend date is Monday, May 22nd. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.13. Johnson & Johnson’s dividend payout ratio (DPR) is 94.56%.

Analyst Upgrades and Downgrades

JNJ has been the topic of a number of recent research reports. Guggenheim initiated coverage on Johnson & Johnson in a research report on Tuesday, February 28th. They set a “neutral” rating and a $161.00 price objective on the stock. Morgan Stanley upped their price objective on Johnson & Johnson from $179.00 to $183.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 19th. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, February 1st. Raymond James decreased their price objective on Johnson & Johnson from $185.00 to $181.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 19th. Finally, UBS Group began coverage on Johnson & Johnson in a research report on Tuesday, March 28th. They set a “neutral” rating and a $164.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $173.00.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, insider James D. Swanson sold 1,062 shares of the stock in a transaction on Monday, March 6th. The stock was sold at an average price of $154.66, for a total transaction of $164,248.92. Following the sale, the insider now owns 9,215 shares of the company’s stock, valued at approximately $1,425,191.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

Johnson & Johnson Company Profile

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Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer Health, Pharmaceutical, and MedTech. The Consumer Health segment includes products focused on personal healthcare used in the Skin Health/Beauty, Over-the-Counter medicines, Baby Care, Oral Care, Women’s Health and Wound Care markets.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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