Busey Bank Grows Position in Johnson & Johnson (NYSE:JNJ)

Busey Bank raised its position in shares of Johnson & Johnson (NYSE:JNJ) by 2.2% during the 4th quarter, Holdings Channel reports. The fund owned 267,386 shares of the company’s stock after purchasing an additional 5,683 shares during the period. Johnson & Johnson makes up approximately 1.3% of Busey Bank’s investment portfolio, making the stock its 15th biggest position. Busey Bank’s holdings in Johnson & Johnson were worth $38,669,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp lifted its stake in shares of Johnson & Johnson by 0.9% in the 3rd quarter. State Street Corp now owns 134,245,811 shares of the company’s stock valued at $21,755,874,000 after purchasing an additional 1,154,088 shares during the last quarter. Geode Capital Management LLC lifted its position in Johnson & Johnson by 1.8% in the third quarter. Geode Capital Management LLC now owns 56,106,884 shares of the company’s stock worth $9,064,149,000 after buying an additional 1,004,763 shares during the last quarter. FMR LLC increased its position in Johnson & Johnson by 7.4% during the third quarter. FMR LLC now owns 18,316,920 shares of the company’s stock valued at $2,968,440,000 after acquiring an additional 1,265,748 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Johnson & Johnson by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock valued at $2,858,543,000 after acquiring an additional 102,502 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of Johnson & Johnson by 11.4% in the 3rd quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock worth $2,721,355,000 after acquiring an additional 1,729,281 shares during the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

JNJ has been the subject of several analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Morgan Stanley dropped their price objective on Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Argus upgraded Johnson & Johnson to a “strong-buy” rating in a research note on Friday, January 24th. Guggenheim boosted their target price on shares of Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Finally, Stifel Nicolaus decreased their price objective on shares of Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $170.44.

Johnson & Johnson Stock Performance

JNJ stock opened at $152.09 on Monday. Johnson & Johnson has a one year low of $140.68 and a one year high of $168.85. The firm has a market cap of $366.17 billion, a price-to-earnings ratio of 22.87, a PEG ratio of 2.43 and a beta of 0.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03. The firm has a 50-day simple moving average of $147.61 and a two-hundred day simple moving average of $156.13.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.05. The business had revenue of $22.52 billion for the quarter, compared to analyst estimates of $22.44 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.35%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.29 earnings per share. On average, equities analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio is presently 74.59%.

Insider Transactions at Johnson & Johnson

In related news, Director Mark A. Weinberger bought 1,000 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were bought at an average price of $147.22 per share, with a total value of $147,220.00. Following the transaction, the director now owns 1,000 shares in the company, valued at approximately $147,220. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.16% of the company’s stock.

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.