Confluence Wealth Services Inc. Buys 846 Shares of Johnson & Johnson (NYSE:JNJ)

Confluence Wealth Services Inc. raised its stake in shares of Johnson & Johnson (NYSE:JNJ) by 2.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 40,180 shares of the company’s stock after purchasing an additional 846 shares during the period. Johnson & Johnson accounts for about 0.5% of Confluence Wealth Services Inc.’s investment portfolio, making the stock its 28th biggest holding. Confluence Wealth Services Inc.’s holdings in Johnson & Johnson were worth $6,511,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Meridian Financial Partners LLC purchased a new stake in Johnson & Johnson in the 2nd quarter worth $1,626,000. Summit Financial Wealth Advisors LLC boosted its stake in shares of Johnson & Johnson by 26.3% in the first quarter. Summit Financial Wealth Advisors LLC now owns 5,392 shares of the company’s stock worth $853,000 after acquiring an additional 1,122 shares during the period. Franklin Parlapiano Turner & Welch LLC raised its stake in Johnson & Johnson by 0.7% during the 1st quarter. Franklin Parlapiano Turner & Welch LLC now owns 47,186 shares of the company’s stock valued at $7,464,000 after purchasing an additional 325 shares during the period. NTV Asset Management LLC lifted its holdings in Johnson & Johnson by 1.6% in the 1st quarter. NTV Asset Management LLC now owns 36,000 shares of the company’s stock worth $5,695,000 after purchasing an additional 565 shares in the last quarter. Finally, Cooper Haims Advisors LLC boosted its stake in Johnson & Johnson by 6.4% in the 1st quarter. Cooper Haims Advisors LLC now owns 3,358 shares of the company’s stock worth $531,000 after purchasing an additional 201 shares during the period. Institutional investors own 69.55% of the company’s stock.

Insider Transactions at Johnson & Johnson

In related 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 value of $930,113.10. Following the transaction, the vice president now owns 18,973 shares of the company’s stock, valued at $3,131,683.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on JNJ. Sanford C. Bernstein lifted their price objective on shares of Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, October 16th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Morgan Stanley lifted their price objective on Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Citigroup upped 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. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.93.

Johnson & Johnson Trading Up 0.2 %

Shares of JNJ opened at $160.13 on Monday. The company’s fifty day simple moving average is $163.31 and its 200-day simple moving average is $155.59. The company has a market cap of $385.53 billion, a P/E ratio of 23.17, a P/E/G ratio of 2.84 and a beta of 0.52. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $168.85.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.21. The business had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.66 earnings per share. As a group, analysts expect that Johnson & Johnson will post 9.94 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently announced 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 3.10%. Johnson & Johnson’s payout ratio is 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.