Palisade Asset Management LLC Sells 327 Shares of Johnson & Johnson (NYSE:JNJ)

Palisade Asset Management LLC lessened its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 0.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,826 shares of the company’s stock after selling 327 shares during the period. Johnson & Johnson makes up 1.7% of Palisade Asset Management LLC’s portfolio, making the stock its 17th biggest position. Palisade Asset Management LLC’s holdings in Johnson & Johnson were worth $16,988,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of JNJ. Innealta Capital LLC acquired a new position in shares of Johnson & Johnson in the second quarter valued at approximately $27,000. Highline Wealth Partners LLC bought a new stake in Johnson & Johnson in the 3rd quarter valued at $31,000. Mowery & Schoenfeld Wealth Management LLC boosted its stake in Johnson & Johnson by 58.7% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after purchasing an additional 91 shares during the period. Activest Wealth Management bought a new position in Johnson & Johnson during the 3rd quarter worth about $40,000. Finally, Morton Brown Family Wealth LLC raised its stake in shares of Johnson & Johnson by 400.0% in the 3rd quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock valued at $41,000 after purchasing an additional 200 shares during the period. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Trading Down 0.2 %

Shares of NYSE:JNJ opened at $155.14 on Friday. The company has a 50-day simple moving average of $160.21 and a 200 day simple moving average of $156.21. The company has a market capitalization of $373.52 billion, a P/E ratio of 22.45, a price-to-earnings-growth ratio of 2.76 and a beta of 0.53. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The company had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. During the same period in the previous year, the company posted $2.66 EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. Sell-side analysts forecast that Johnson & Johnson will post 9.93 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio is presently 71.78%.

Wall Street Analyst Weigh In

JNJ has been the subject of several recent research reports. Citigroup upped their price objective on Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Wolfe Research initiated coverage on shares of Johnson & Johnson in a report on Friday, November 15th. They issued an “outperform” rating and a $190.00 price objective on the stock. Wells Fargo & Company increased their target price on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Finally, Guggenheim lifted their price target on shares of Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.94.

Insider Buying and Selling

In related news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the sale, the vice president now directly owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. This trade represents a 22.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.16% of the stock is currently owned by insiders.

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.