Palo Capital Inc. reduced its stake in shares of Johnson & Johnson (NYSE:JNJ) by 0.0% during the second quarter, Holdings Channel reports. The fund owned 26,322 shares of the company’s stock after selling 2 shares during the period. Johnson & Johnson accounts for approximately 2.0% of Palo Capital Inc.’s portfolio, making the stock its 9th largest position. Palo Capital Inc.’s holdings in Johnson & Johnson were worth $3,482,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. State Street Corp increased its position in Johnson & Johnson by 4.3% in the first quarter. State Street Corp now owns 160,223,321 shares of the company’s stock valued at $19,955,806,000 after buying an additional 6,656,371 shares during the last quarter. Norges Bank purchased a new position in Johnson & Johnson during the fourth quarter valued at approximately $3,220,322,000. Fisher Asset Management LLC increased its position in Johnson & Johnson by 3.7% in the second quarter. Fisher Asset Management LLC now owns 11,499,415 shares of the company’s stock valued at $1,521,258,000 after buying an additional 405,517 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in Johnson & Johnson by 1.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 11,150,339 shares of the company’s stock valued at $1,388,775,000 after buying an additional 201,703 shares during the last quarter. Finally, Clearbridge Investments LLC increased its position in Johnson & Johnson by 3.4% in the first quarter. Clearbridge Investments LLC now owns 9,543,827 shares of the company’s stock valued at $1,188,684,000 after buying an additional 310,831 shares during the last quarter. 66.02% of the stock is currently owned by institutional investors.
Johnson & Johnson (NYSE:JNJ) opened at 135.31 on Friday. The company has a market capitalization of $364.50 billion, a PE ratio of 22.74 and a beta of 0.78. The stock has a 50 day moving average price of $132.92 and a 200-day moving average price of $124.44. Johnson & Johnson has a 52 week low of $109.32 and a 52 week high of $137.08.
Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, July 18th. The company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.04. Johnson & Johnson had a net margin of 22.52% and a return on equity of 26.83%. The company had revenue of $18.84 billion during the quarter, compared to analyst estimates of $18.94 billion. During the same period in the previous year, the business earned $1.74 earnings per share. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities analysts predict that Johnson & Johnson will post $7.17 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Tuesday, August 29th will be given a $0.84 dividend. The ex-dividend date of this dividend is Friday, August 25th. This represents a $3.36 annualized dividend and a yield of 2.48%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 56.76%.
Several equities analysts have recently commented on JNJ shares. BidaskClub raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $135.00 target price (down previously from $140.00) on shares of Johnson & Johnson in a research report on Sunday, May 14th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $128.00 target price on shares of Johnson & Johnson in a research report on Thursday, June 15th. Atlantic Securities downgraded Johnson & Johnson from a “neutral” rating to an “underweight” rating in a research report on Friday. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $130.00 target price (up previously from $125.00) on shares of Johnson & Johnson in a research report on Monday, April 17th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $134.02.
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.
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