Field & Main Bank Trims Stake in Johnson & Johnson $JNJ

Field & Main Bank lessened its position in shares of Johnson & Johnson (NYSE:JNJ) by 0.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 38,736 shares of the company’s stock after selling 165 shares during the quarter. Johnson & Johnson comprises 1.9% of Field & Main Bank’s investment portfolio, making the stock its 11th biggest holding. Field & Main Bank’s holdings in Johnson & Johnson were worth $5,917,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in JNJ. Nuveen LLC purchased a new stake in Johnson & Johnson in the 1st quarter valued at $1,369,188,000. Bank of New York Mellon Corp raised its holdings in shares of Johnson & Johnson by 26.4% in the first quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company’s stock valued at $3,844,580,000 after buying an additional 4,842,582 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Johnson & Johnson by 1,382.0% during the first quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company’s stock worth $502,509,000 after buying an additional 2,825,626 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Johnson & Johnson by 159.6% during the second quarter. Assenagon Asset Management S.A. now owns 4,159,260 shares of the company’s stock worth $635,327,000 after buying an additional 2,557,388 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC acquired a new position in Johnson & Johnson in the 2nd quarter valued at about $401,420,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $186.39 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.50. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $194.48. The firm’s fifty day simple moving average is $182.88 and its 200-day simple moving average is $167.17. The stock has a market cap of $449.07 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 2.20 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. The company had revenue of $24.02 billion for the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 32.73%. Analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 25th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Tuesday, November 25th. Johnson & Johnson’s payout ratio is 50.19%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. UBS Group lifted their target price on Johnson & Johnson from $190.00 to $214.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. Wall Street Zen raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. Royal Bank Of Canada restated an “outperform” rating and issued a $209.00 target price on shares of Johnson & Johnson in a research note on Friday, October 10th. Argus set a $210.00 price target on shares of Johnson & Johnson in a research note on Wednesday, October 15th. Finally, Johnson Rice set a $190.00 price target on shares of Johnson & Johnson and gave the stock a “hold” rating in a report on Wednesday, October 22nd. Three research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $199.05.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the completion of the transaction, the executive vice president owned 178,013 shares in the company, valued at approximately $31,652,491.53. The trade was a 24.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.16% of the stock is owned by corporate insiders.

Johnson & Johnson 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.