Palisade Asset Management LLC Has $16.99 Million Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Palisade Asset Management LLC decreased its position in Johnson & Johnson (NYSE:JNJ) by 0.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 104,826 shares of the company’s stock after selling 327 shares during the period. Johnson & Johnson comprises approximately 1.7% of Palisade Asset Management LLC’s holdings, making the stock its 17th largest holding. Palisade Asset Management LLC’s holdings in Johnson & Johnson were worth $16,988,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

JNJ has been the subject of a number of analyst reports. Morgan Stanley lifted their price objective on Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Citigroup lifted their price target on shares of Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Wolfe Research assumed coverage on shares of Johnson & Johnson in a research report on Friday, November 15th. They issued an “outperform” rating and a $190.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a report on Wednesday, October 16th. Finally, Guggenheim increased their price target on Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $175.94.

Insider Activity at Johnson & Johnson

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 shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the transaction, the vice president now owns 18,973 shares of the company’s stock, valued at $3,131,683.38. This trade represents a 22.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is currently owned by corporate insiders.

Johnson & Johnson Stock Performance

Shares of NYSE:JNJ opened at $155.14 on Friday. The stock has a market capitalization of $373.52 billion, a P/E ratio of 22.45, a P/E/G ratio of 2.76 and a beta of 0.53. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85. The business has a 50-day moving average price of $160.21 and a two-hundred day moving average price of $156.21.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The business had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. During the same period in the prior year, the business posted $2.66 earnings per share. Johnson & Johnson’s revenue was up 5.2% compared to the same quarter last year. Equities analysts predict that Johnson & Johnson will post 9.93 earnings per share for the current year.

Johnson & Johnson Announces Dividend

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

About Johnson & Johnson

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.