Field & Main Bank Cuts Stock Holdings in Johnson & Johnson $JNJ

Field & Main Bank cut its stake in shares of Johnson & Johnson (NYSE:JNJ) by 0.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 38,736 shares of the company’s stock after selling 165 shares during the period. Johnson & Johnson accounts for approximately 1.9% of Field & Main Bank’s holdings, 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 reporting period.

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

Johnson & Johnson Stock Performance

Johnson & Johnson stock opened at $186.39 on Thursday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.50. The stock has a 50 day moving average of $182.88 and a 200-day moving average of $167.17. The stock has a market cap of $449.07 billion, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 2.20 and a beta of 0.40. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $194.48.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. The firm 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%. On average, analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

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

Insider Transactions at Johnson & Johnson

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

Wall Street Analysts Forecast Growth

Several research firms have commented on JNJ. Argus set a $210.00 price objective on Johnson & Johnson in a research report on Wednesday, October 15th. Guggenheim raised Johnson & Johnson from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $167.00 to $206.00 in a research report on Tuesday, September 23rd. Wall Street Zen raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Sanford C. Bernstein boosted their target price on shares of Johnson & Johnson from $172.00 to $193.00 and gave the stock a “market perform” rating in a research report on Monday, October 6th. Finally, Erste Group Bank raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, Johnson & Johnson has an average rating of “Moderate Buy” and an average target price of $199.05.

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.