Palo Capital Lowers stake in Johnson & Johnson (JNJ)

Johnson & Johnson (JNJ) : Palo Capital reduced its stake in Johnson & Johnson by 3.01% during the most recent quarter end. The investment management company now holds a total of 31,504 shares of Johnson & Johnson which is valued at $3,570,033 after selling 977 shares in Johnson & Johnson , the firm said in a disclosure report filed with the SEC on Apr 18, 2016.Johnson & Johnson makes up approximately 2.82% of Palo Capital’s portfolio.

Johnson & Johnson closed down -0.25 points or -0.22% at $113.32 with 75,08,690 shares getting traded on Friday. Post opening the session at $113.43, the shares hit an intraday low of $112.828 and an intraday high of $113.7531 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Bristol John W Co Inc Ny reduced its stake in JNJ by selling 38,576 shares or 1.87% in the most recent quarter. The Hedge Fund company now holds 2,024,576 shares of JNJ which is valued at $229,424,952. Johnson & Johnson makes up approx 6.06% of Bristol John W Co Inc Ny’s portfolio.First United Bank Trust boosted its stake in JNJ in the latest quarter, The investment management firm added 436 additional shares and now holds a total of 19,716 shares of Johnson & Johnson which is valued at $2,172,309. Johnson & Johnson makes up approx 1.98% of First United Bank Trust’s portfolio.Newman Dignan Sheerar boosted its stake in JNJ in the latest quarter, The investment management firm added 61 additional shares and now holds a total of 37,355 shares of Johnson & Johnson which is valued at $4,115,774. Johnson & Johnson makes up approx 2.96% of Newman Dignan Sheerar’s portfolio.Livingston Group Asset Management Co (operating As Southp… reduced its stake in JNJ by selling 376 shares or 1.2% in the most recent quarter. The Hedge Fund company now holds 30,839 shares of JNJ which is valued at $3,360,526. Johnson & Johnson makes up approx 2.18% of Livingston Group Asset Management Co (operating As Southp…’s portfolio.First Financial Bank N.a. – Trust Division boosted its stake in JNJ in the latest quarter, The investment management firm added 137 additional shares and now holds a total of 96,229 shares of Johnson & Johnson which is valued at $10,486,074. Johnson & Johnson makes up approx 2.09% of First Financial Bank N.a. – Trust Division’s portfolio.

On the company’s financial health, Johnson & Johnson reported $1.68 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 19, 2016. Analyst had a consensus of $1.65. The company had revenue of $17482.00 million for the quarter, compared to analysts expectations of $17491.02 million. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.56 EPS.

Many Wall Street Analysts have commented on Johnson & Johnson. Company shares were Reiterated by RBC Capital Mkts on Apr 20, 2016 to “Outperform”, Firm has raised the Price Target to $ 125 from a previous price target of $122 .Company shares were Reiterated by Piper Jaffray on Apr 20, 2016 to “Neutral”, Firm has raised the Price Target to $ 106 from a previous price target of $105 .Company shares were Reiterated by RBC Capital Mkts on Apr 15, 2016 to “Outperform”, Firm has raised the Price Target to $ 122 from a previous price target of $114 .

Johnson & Johnson is a holding company. The Company is engaged in the research and development manufacture and sale of a range of products in the health care field. The Company has more than 265 operating companies conducting business around the world. The Company’s primary focus is products related to human health and well-being. The Company is organized into three business segments: Consumer Pharmaceutical and Medical Devices. The Company’s subsidiaries operate 134 manufacturing facilities occupying approximately 21.5 million square feet of floor space. The Company’s research facilities are located in the United States Belgium Brazil Canada China France Germany India Israel Japan the Netherlands Singapore Switzerland and the United Kingdom.

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