Palisade Capital Management LP Sells 1,887 Shares of Johnson & Johnson (NYSE:JNJ)

Palisade Capital Management LP lessened its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 7.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,798 shares of the company's stock after selling 1,887 shares during the quarter. Palisade Capital Management LP's holdings in Johnson & Johnson were worth $3,947,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. WealthTrak Capital Management LLC purchased a new stake in Johnson & Johnson during the 4th quarter worth about $26,000. Mountain Hill Investment Partners Corp. purchased a new stake in Johnson & Johnson during the 4th quarter worth about $29,000. Conquis Financial LLC purchased a new stake in Johnson & Johnson during the 4th quarter worth about $33,000. Bernard Wealth Management Corp. purchased a new stake in Johnson & Johnson in the 4th quarter valued at about $36,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in Johnson & Johnson in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 69.55% of the company's stock.

Johnson & Johnson Stock Performance

JNJ traded up $0.02 during trading on Monday, reaching $156.03. 1,213,585 shares of the company were exchanged, compared to its average volume of 9,052,737. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99. The stock has a market cap of $375.41 billion, a P/E ratio of 17.34, a PEG ratio of 2.36 and a beta of 0.41. The firm has a 50 day moving average of $153.68 and a 200 day moving average of $154.17. The company has a current ratio of 1.26, a quick ratio of 1.03 and a debt-to-equity ratio of 0.49.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its earnings results on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.59 by $0.18. The business had revenue of $21.89 billion during the quarter, compared to the consensus estimate of $21.65 billion. Johnson & Johnson had a return on equity of 33.46% and a net margin of 24.42%. On average, sell-side analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th were issued a dividend of $1.30 per share. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.24. The ex-dividend date was Tuesday, May 27th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.33%. Johnson & Johnson's dividend payout ratio is currently 57.84%.

Analyst Upgrades and Downgrades

JNJ has been the subject of several recent analyst reports. Guggenheim restated a "neutral" rating on shares of Johnson & Johnson in a report on Wednesday, April 2nd. Morgan Stanley lifted their price target on Johnson & Johnson from $164.00 to $169.00 and gave the company an "equal weight" rating in a report on Wednesday, April 16th. Raymond James Financial lowered their price target on Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Bank of America lowered their price target on Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Finally, Leerink Partners cut Johnson & Johnson from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $169.00 to $153.00 in a report on Tuesday, May 13th. Eleven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $170.88.

Johnson & Johnson Company Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.