Palisades Hudson Asset Management L.P. Increases Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on May 15th, 2023

Palisades Hudson Asset Management L.P. grew its position in Johnson & Johnson (NYSE:JNJ – Get Rating) by 4.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,706 shares of the company’s stock after buying an additional 79 shares during the quarter. Palisades Hudson Asset Management L.P.’s holdings in Johnson & Johnson were worth $301,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in JNJ. Veracity Capital LLC boosted its position in Johnson & Johnson by 1.2% during the 4th quarter. Veracity Capital LLC now owns 5,027 shares of the company’s stock valued at $888,000 after acquiring an additional 59 shares in the last quarter. Sandy Cove Advisors LLC raised its stake in Johnson & Johnson by 1.6% in the 3rd quarter. Sandy Cove Advisors LLC now owns 3,703 shares of the company’s stock worth $605,000 after acquiring an additional 60 shares during the last quarter. LCM Capital Management Inc raised its stake in Johnson & Johnson by 0.7% in the 4th quarter. LCM Capital Management Inc now owns 9,437 shares of the company’s stock worth $1,667,000 after acquiring an additional 61 shares during the last quarter. Arbor Investment Advisors LLC raised its stake in shares of Johnson & Johnson by 2.3% during the 4th quarter. Arbor Investment Advisors LLC now owns 2,697 shares of the company’s stock valued at $476,000 after buying an additional 61 shares during the last quarter. Finally, Sierra Capital LLC raised its stake in shares of Johnson & Johnson by 0.6% during the 4th quarter. Sierra Capital LLC now owns 10,036 shares of the company’s stock valued at $1,773,000 after buying an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 67.94% of the company’s stock.

Insider Activity

In related news, insider James D. Swanson sold 1,062 shares of the stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $154.66, for a total transaction of $164,248.92. Following the completion of the sale, the insider now owns 9,215 shares in the company, valued at approximately $1,425,191.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Guggenheim assumed coverage on Johnson & Johnson in a research report on Tuesday, February 28th. They set a “neutral” rating and a $161.00 target price on the stock. Credit Suisse Group raised their target price on shares of Johnson & Johnson from $168.00 to $170.00 in a research note on Friday, May 5th. Raymond James reduced their price target on shares of Johnson & Johnson from $185.00 to $181.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 19th. UBS Group assumed coverage on shares of Johnson & Johnson in a research report on Tuesday, March 28th. They set a “neutral” rating and a $164.00 price target on the stock. Finally, Atlantic Securities cut their target price on Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 19th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $173.00.

Johnson & Johnson Trading Down 0.1 %

Shares of NYSE:JNJ opened at $160.78 on Monday. Johnson & Johnson has a twelve month low of $150.11 and a twelve month high of $183.35. The firm has a market cap of $417.82 billion, a P/E ratio of 33.64, a P/E/G ratio of 2.77 and a beta of 0.53. The company has a 50 day moving average of $159.10 and a 200-day moving average of $166.69. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.49.

Johnson & Johnson (NYSE:JNJ – Get Rating) last announced its quarterly earnings results on Tuesday, April 18th. The company reported $2.68 EPS for the quarter, topping the consensus estimate of $2.51 by $0.17. Johnson & Johnson had a net margin of 13.22% and a return on equity of 36.13%. The company had revenue of $24.75 billion for the quarter, compared to analyst estimates of $23.61 billion. During the same quarter in the prior year, the business posted $2.67 EPS. Johnson & Johnson’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, analysts anticipate that Johnson & Johnson will post 10.66 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 6th. Shareholders of record on Tuesday, May 23rd will be issued a $1.19 dividend. The ex-dividend date is Monday, May 22nd. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.13. This represents a $4.76 dividend on an annualized basis and a yield of 2.96%. Johnson & Johnson’s dividend payout ratio is 99.58%.

Johnson & Johnson Profile

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Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer Health, Pharmaceutical, and MedTech. The Consumer Health segment includes products focused on personal healthcare used in the Skin Health/Beauty, Over-the-Counter medicines, Baby Care, Oral Care, Women’s Health and Wound Care markets.

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

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