Associated Banc Corp Sells 3,181 Shares of Johnson & Johnson $JNJ

Associated Banc Corp lowered its stake in shares of Johnson & Johnson (NYSE:JNJ) by 2.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 143,311 shares of the company’s stock after selling 3,181 shares during the period. Johnson & Johnson accounts for 0.9% of Associated Banc Corp’s portfolio, making the stock its 26th largest position. Associated Banc Corp’s holdings in Johnson & Johnson were worth $35,031,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Blueline Advisors LLC purchased a new stake in Johnson & Johnson during the fourth quarter valued at about $25,000. Cresta Advisors Ltd. purchased a new position in shares of Johnson & Johnson in the 4th quarter worth about $26,000. DecisionPoint Financial LLC increased its position in shares of Johnson & Johnson by 104.2% during the 4th quarter. DecisionPoint Financial LLC now owns 147 shares of the company’s stock valued at $30,000 after purchasing an additional 75 shares during the last quarter. Bay Harbor Wealth Management LLC increased its position in shares of Johnson & Johnson by 49.0% during the 4th quarter. Bay Harbor Wealth Management LLC now owns 149 shares of the company’s stock valued at $31,000 after purchasing an additional 49 shares during the last quarter. Finally, Family CFO Inc purchased a new position in shares of Johnson & Johnson during the 4th quarter valued at about $31,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $253.70 on Wednesday. The company has a market capitalization of $610.71 billion, a P/E ratio of 29.33, a PEG ratio of 2.46 and a beta of 0.24. Johnson & Johnson has a fifty-two week low of $154.80 and a fifty-two week high of $269.43. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.03. The stock has a 50 day moving average price of $238.18 and a two-hundred day moving average price of $233.92.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, April 14th. The company reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.02. Johnson & Johnson had a net margin of 21.83% and a return on equity of 32.60%. The firm had revenue of $24.06 billion for the quarter, compared to analysts’ expectations of $23.60 billion. During the same quarter last year, the business earned $2.77 earnings per share. The business’s revenue was up 9.9% on a year-over-year basis. Analysts expect that Johnson & Johnson will post 11.58 earnings per share for the current year.

Johnson & Johnson News Roundup

Here are the key news stories impacting Johnson & Johnson this week:

• Positive Sentiment: Analysts expect Johnson & Johnson to post a solid Q2 print, with commentary pointing to an upbeat report even as Stelara faces headwinds. Johnson & Johnson: Analysts see upbeat Q2 print despite Stelara headwinds
• Positive Sentiment: Several preview pieces say JNJ is trading near all-time highs and could still have more upside if earnings and guidance come in strong. Johnson & Johnson Q2 Preview: Stock Near All-Time Highs, Market Expert Sees Rally to $282
• Positive Sentiment: RBC raised its price target on JNJ to $287 from $265 and maintained an outperform rating, reinforcing bullish sentiment.
• Positive Sentiment: Coverage also highlighted JNJ’s strong year-to-date run and defensive healthcare appeal, which has supported investor demand ahead of earnings. Johnson & Johnson Reports Q2 Earnings Tomorrow. What Investors Should Expect.
• Neutral Sentiment: Other articles focused on JNJ as a dividend and income stock, which may support valuation but did not add new material catalysts. How to earn $500 a month from Johnson & Johnson stock ahead of Q2 earnings
• Negative Sentiment: Some commentary noted the stock’s rich valuation after a big rally, suggesting investors may be paying a premium heading into the report. What Lilly’s Peer-Beating Numbers Cost You

Analyst Ratings Changes

JNJ has been the subject of a number of recent research reports. Stifel Nicolaus boosted their target price on Johnson & Johnson from $220.00 to $250.00 and gave the stock a “hold” rating in a research report on Wednesday, April 15th. HSBC set a $290.00 price target on shares of Johnson & Johnson and gave the stock a “buy” rating in a research note on Monday, July 6th. Weiss Ratings cut shares of Johnson & Johnson from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 15th. Guggenheim increased their target price on shares of Johnson & Johnson from $266.00 to $270.00 and gave the company a “buy” rating in a report on Friday, June 26th. Finally, Leerink Partners upgraded shares of Johnson & Johnson from a “market perform” rating to an “outperform” rating and set a $265.00 target price on the stock in a research report on Wednesday, May 13th. Twenty equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $261.26.

Insiders Place Their Bets

In other Johnson & Johnson news, EVP Kathryn E. Wengel sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $241.15, for a total value of $2,411,500.00. Following the sale, the executive vice president owned 114,288 shares of the company’s stock, valued at $27,560,551.20. This trade represents a 8.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is owned by insiders.

Johnson & Johnson Profile

Johnson & Johnson is a multinational healthcare company headquartered in New Brunswick, New Jersey, that develops, manufactures and markets a broad range of products across pharmaceuticals, medical devices and previously consumer health. Founded in 1886 by the Johnson family, the company has grown into a global healthcare organization with operations and sales in many countries around the world.

The company’s pharmaceuticals business, organized largely under its Janssen research and development organization, focuses on prescription medicines across therapeutic areas such as immunology, infectious disease, oncology and neuroscience.