(Ticker Report) – Palisade Asset Management LLC lowered its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 0.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission.
The institutional investor owned 95,338 shares of the company’s stock after selling 795 shares during the quarter. Johnson & Johnson makes up 2.1% of Palisade Asset Management LLC’s holdings, making the stock its 10th largest position. Palisade Asset Management LLC’s holdings in Johnson & Johnson were worth $14,194,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of JNJ. Newfound Research LLC purchased a new position in shares of Johnson & Johnson in the third quarter valued at approximately $28,000. Islay Capital Management LLC purchased a new position in shares of Johnson & Johnson in the second quarter valued at approximately $42,000. FAI Wealth Management lifted its position in shares of Johnson & Johnson by 45.9% in the second quarter. FAI Wealth Management now owns 321 shares of the company’s stock valued at $45,000 after acquiring an additional 101 shares in the last quarter.
SeaBridge Investment Advisors LLC lifted its position in shares of Johnson & Johnson by 160.0% in the second quarter. SeaBridge Investment Advisors LLC now owns 325 shares of the company’s stock valued at $46,000 after acquiring an additional 200 shares in the last quarter. Finally, HWG Holdings LP purchased a new position in shares of Johnson & Johnson in the second quarter valued at approximately $49,000. Institutional investors own 67.44% of the company’s stock.
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Several equities analysts have recently weighed in on JNJ shares. Independent Research upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and raised their target price for the company from $161.00 to $164.00 in a research report on Monday, July 20th. Cantor Fitzgerald increased their price target on Johnson & Johnson from $168.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday, October 14th. Zacks Investment Research cut Johnson & Johnson from a “hold” rating to a “sell” rating and set a $150.00 price target for the company. in a report on Tuesday, July 7th. Raymond James increased their price target on Johnson & Johnson from $157.00 to $158.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Finally, ValuEngine raised Johnson & Johnson from a “sell” rating to a “hold” rating in a report on Monday, August 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $164.93.
In related news, EVP Kathryn E. Wengel sold 16,115 shares of Johnson & Johnson stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $153.52, for a total value of $2,473,974.80. Following the completion of the transaction, the executive vice president now directly owns 66,658 shares in the company, valued at $10,233,336.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.27% of the company’s stock.
Shares of NYSE JNJ opened at $137.11 on Friday. Johnson & Johnson has a twelve month low of $109.16 and a twelve month high of $157.00. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.40. The stock has a fifty day simple moving average of $146.71 and a 200-day simple moving average of $147.21. The stock has a market capitalization of $360.95 billion, a PE ratio of 21.56, a PEG ratio of 3.14 and a beta of 0.68.
Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Sunday, October 18th. The company reported $2.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.98 by $0.22. Johnson & Johnson had a return on equity of 35.10% and a net margin of 21.01%. The business had revenue of $21.08 billion during the quarter, compared to analysts’ expectations of $20.15 billion. During the same period in the previous year, the firm posted $2.12 earnings per share. The company’s revenue was up 1.7% on a year-over-year basis. On average, equities analysts predict that Johnson & Johnson will post 7.99 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Tuesday, November 24th will be paid a $1.01 dividend. The ex-dividend date of this dividend is Monday, November 23rd. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.95%. Johnson & Johnson’s payout ratio is presently 46.54%.
Johnson & Johnson Profile
Johnson & Johnson researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON’S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DR.