Johnson & Johnson (NYSE:JNJ) Shares Sold by Associated Banc Corp

Associated Banc Corp lowered its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 2.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 162,874 shares of the company’s stock after selling 4,932 shares during the period. Associated Banc Corp’s holdings in Johnson & Johnson were worth $26,395,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Innealta Capital LLC acquired a new stake in Johnson & Johnson during the 2nd quarter worth approximately $27,000. Highline Wealth Partners LLC purchased a new position in Johnson & Johnson in the 3rd quarter valued at $31,000. Mowery & Schoenfeld Wealth Management LLC increased its stake in Johnson & Johnson by 58.7% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after buying an additional 91 shares during the period. Activest Wealth Management acquired a new stake in shares of Johnson & Johnson in the 3rd quarter worth $40,000. Finally, Morton Brown Family Wealth LLC increased its stake in shares of Johnson & Johnson by 400.0% during the third quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock worth $41,000 after acquiring an additional 200 shares during the period. 69.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on JNJ. Royal Bank of Canada boosted their target price on Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Citigroup lifted their price target on shares of Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a report on Wednesday, October 16th. Wells Fargo & Company boosted their price objective on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Guggenheim increased their price target on shares of Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $175.94.

Insiders Place Their Bets

In other news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the transaction, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. This trade represents a 22.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.16% of the stock is currently owned by insiders.

Johnson & Johnson Stock Performance

NYSE JNJ traded up $1.11 during trading hours on Monday, reaching $156.28. The company’s stock had a trading volume of 730,287 shares, compared to its average volume of 7,023,592. The stock has a market cap of $376.26 billion, a PE ratio of 22.46, a PEG ratio of 2.76 and a beta of 0.53. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. The business has a 50-day simple moving average of $160.21 and a 200 day simple moving average of $156.32.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The company had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. During the same quarter in the previous year, the company posted $2.66 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equities research analysts predict that Johnson & Johnson will post 9.93 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be paid a dividend of $1.24 per share. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.17%. Johnson & Johnson’s dividend payout ratio is presently 71.78%.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.