Acorn Creek Capital LLC Acquires New Shares in Johnson & Johnson (NYSE:JNJ)

Acorn Creek Capital LLC acquired a new stake in shares of Johnson & Johnson (NYSE:JNJ) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,711 shares of the company’s stock, valued at approximately $277,000.

Other institutional investors also recently added to or reduced their stakes in the company. Meridian Financial Partners LLC acquired a new position in Johnson & Johnson during the 2nd quarter worth $1,626,000. Summit Financial Wealth Advisors LLC raised its stake in shares of Johnson & Johnson by 26.3% in the 1st quarter. Summit Financial Wealth Advisors LLC now owns 5,392 shares of the company’s stock worth $853,000 after buying an additional 1,122 shares in the last quarter. Franklin Parlapiano Turner & Welch LLC raised its stake in shares of Johnson & Johnson by 0.7% in the 1st quarter. Franklin Parlapiano Turner & Welch LLC now owns 47,186 shares of the company’s stock worth $7,464,000 after buying an additional 325 shares in the last quarter. Capital Asset Advisory Services LLC raised its stake in shares of Johnson & Johnson by 8.8% in the 1st quarter. Capital Asset Advisory Services LLC now owns 26,539 shares of the company’s stock worth $4,044,000 after buying an additional 2,151 shares in the last quarter. Finally, NTV Asset Management LLC raised its stake in shares of Johnson & Johnson by 1.6% in the 1st quarter. NTV Asset Management LLC now owns 36,000 shares of the company’s stock worth $5,695,000 after buying an additional 565 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Analyst Ratings Changes

JNJ has been the topic of a number of research reports. The Goldman Sachs Group dropped their price objective on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Morgan Stanley boosted their price objective on Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Daiwa Capital Markets lowered Johnson & Johnson from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Sanford C. Bernstein boosted their target price on Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Finally, Royal Bank of Canada boosted their target price on Johnson & Johnson from $175.00 to $178.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Six equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus price target of $174.31.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the transaction, the vice president now owns 18,973 shares in the company, valued at $3,131,683.38. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Up 1.6 %

NYSE:JNJ opened at $164.14 on Wednesday. The firm has a market capitalization of $395.02 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 2.65 and a beta of 0.52. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The business’s fifty day moving average price is $162.70 and its 200 day moving average price is $154.52.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The firm had revenue of $22.45 billion for the quarter, compared to the consensus estimate of $22.33 billion. During the same quarter in the previous year, the company posted $2.80 earnings per share. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, sell-side analysts forecast that Johnson & Johnson will post 10 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.02%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 30.92%.

Johnson & Johnson Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.