Associated Banc Corp Has $26.40 Million Stake in Johnson & Johnson (NYSE:JNJ)

Associated Banc Corp decreased its stake in Johnson & Johnson (NYSE:JNJ) by 2.9% in the third quarter, Holdings Channel reports. The institutional investor owned 162,874 shares of the company’s stock after selling 4,932 shares during the quarter. Associated Banc Corp’s holdings in Johnson & Johnson were worth $26,395,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Meridian Financial Partners LLC purchased a new stake in shares of Johnson & Johnson during the 2nd quarter worth about $1,626,000. Meridian Investment Counsel Inc. lifted its stake in Johnson & Johnson by 19.6% in the third quarter. Meridian Investment Counsel Inc. now owns 22,629 shares of the company’s stock valued at $3,667,000 after acquiring an additional 3,710 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Johnson & Johnson by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock worth $2,858,543,000 after purchasing an additional 102,502 shares during the last quarter. Sheaff Brock Investment Advisors LLC lifted its stake in shares of Johnson & Johnson by 137.2% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 43,568 shares of the company’s stock valued at $7,061,000 after purchasing an additional 25,203 shares during the last quarter. Finally, Lmcg Investments LLC increased its position in Johnson & Johnson by 32.7% during the third quarter. Lmcg Investments LLC now owns 87,162 shares of the company’s stock worth $14,125,000 after buying an additional 21,471 shares during the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Price Performance

Shares of JNJ stock traded up $1.11 during trading hours on Monday, reaching $156.28. 730,287 shares of the company were exchanged, compared to its average volume of 7,023,592. The stock’s fifty day moving average is $160.21 and its two-hundred day moving average is $156.32. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $168.85. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. The company has a market cap of $376.26 billion, a price-to-earnings ratio of 22.46, a P/E/G ratio of 2.76 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last issued 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. The business had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.66 earnings per share. Sell-side analysts forecast that Johnson & Johnson will post 9.93 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

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

Insiders Place Their Bets

In related news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction on Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the sale, the vice president now directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The trade was a 22.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on JNJ. Royal Bank of Canada upped 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. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Wednesday, October 16th. Morgan Stanley raised their price target on shares of Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Wolfe Research started coverage on Johnson & Johnson in a research note on Friday, November 15th. They set an “outperform” rating and a $190.00 price target on the stock. Finally, Citigroup lifted their price objective on Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.94.

Johnson & Johnson Profile

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.