Johnson & Johnson (NYSE:JNJ) is Palisade Asset Management LLC’s 2nd Largest Position

Palisade Asset Management LLC raised its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 9.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 122,509 shares of the company’s stock after purchasing an additional 10,245 shares during the quarter. Johnson & Johnson accounts for approximately 3.2% of Palisade Asset Management LLC’s investment portfolio, making the stock its 2nd largest holding. Palisade Asset Management LLC’s holdings in Johnson & Johnson were worth $16,207,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in JNJ. Lenox Wealth Advisors Inc. raised its holdings in shares of Johnson & Johnson by 0.6% in the second quarter. Lenox Wealth Advisors Inc. now owns 876 shares of the company’s stock valued at $116,000 after acquiring an additional 5 shares in the last quarter. Lbmc Investment Advisors LLC raised its holdings in shares of Johnson & Johnson by 0.4% in the first quarter. Lbmc Investment Advisors LLC now owns 3,704 shares of the company’s stock valued at $461,000 after acquiring an additional 14 shares in the last quarter. Stratford Consulting LLC raised its holdings in shares of Johnson & Johnson by 0.6% in the second quarter. Stratford Consulting LLC now owns 2,728 shares of the company’s stock valued at $361,000 after acquiring an additional 16 shares in the last quarter. Iron Financial LLC raised its holdings in shares of Johnson & Johnson by 0.5% in the second quarter. Iron Financial LLC now owns 3,782 shares of the company’s stock valued at $500,000 after acquiring an additional 19 shares in the last quarter. Finally, North Point Portfolio Managers Corp OH raised its holdings in shares of Johnson & Johnson by 0.7% in the second quarter. North Point Portfolio Managers Corp OH now owns 2,923 shares of the company’s stock valued at $387,000 after acquiring an additional 20 shares in the last quarter. Institutional investors and hedge funds own 65.90% of the company’s stock.

Several research firms recently weighed in on JNJ. J P Morgan Chase & Co lifted their target price on Johnson & Johnson from $140.00 to $148.00 and gave the company an “overweight” rating in a research note on Wednesday, August 16th. Citigroup began coverage on Johnson & Johnson in a research note on Monday, September 25th. They issued a “neutral” rating and a $140.00 target price on the stock. Jefferies Group set a $145.00 target price on Johnson & Johnson and gave the company a “hold” rating in a research note on Tuesday, August 15th. BMO Capital Markets reiterated a “positive” rating and issued a $152.00 target price (up previously from $145.00) on shares of Johnson & Johnson in a research note on Wednesday, October 18th. Finally, Royal Bank Of Canada lifted their target price on Johnson & Johnson from $144.00 to $147.00 and gave the company an “outperform” rating in a research note on Wednesday, October 18th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $144.59.

Shares of Johnson & Johnson (JNJ) traded down $1.05 during midday trading on Thursday, reaching $140.01. The company had a trading volume of 4,713,146 shares, compared to its average volume of 5,871,537. The stock has a market capitalization of $375,226.25, a price-to-earnings ratio of 19.56, a P/E/G ratio of 2.84 and a beta of 0.80. Johnson & Johnson has a 52-week low of $109.93 and a 52-week high of $144.35. The company has a current ratio of 1.32, a quick ratio of 1.02 and a debt-to-equity ratio of 0.36.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, October 17th. The company reported $1.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.80 by $0.10. Johnson & Johnson had a return on equity of 27.38% and a net margin of 21.28%. The company had revenue of $19.65 billion during the quarter, compared to the consensus estimate of $19.29 billion. During the same period in the previous year, the company posted $1.68 earnings per share. Johnson & Johnson’s revenue for the quarter was up 10.3% on a year-over-year basis. sell-side analysts anticipate that Johnson & Johnson will post 7.28 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Tuesday, November 28th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend is Monday, November 27th. Johnson & Johnson’s payout ratio is presently 58.33%.

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Johnson & Johnson Company Profile

Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of a range of products in the healthcare field. It operates through three segments: Consumer, Pharmaceutical and Medical Devices. Its primary focus is products related to human health and well-being.

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

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