Econ Financial Services Corp Purchases 4,675 Shares of Johnson & Johnson $JNJ

Econ Financial Services Corp boosted its position in shares of Johnson & Johnson (NYSE:JNJ) by 41.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,962 shares of the company’s stock after purchasing an additional 4,675 shares during the period. Johnson & Johnson comprises about 1.3% of Econ Financial Services Corp’s investment portfolio, making the stock its 23rd biggest position. Econ Financial Services Corp’s holdings in Johnson & Johnson were worth $2,438,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Clark Asset Management LLC increased its position in Johnson & Johnson by 51.6% in the 2nd quarter. Clark Asset Management LLC now owns 8,884 shares of the company’s stock valued at $1,357,000 after acquiring an additional 3,025 shares in the last quarter. Apexium Financial LP increased its position in Johnson & Johnson by 10.7% in the 1st quarter. Apexium Financial LP now owns 23,989 shares of the company’s stock valued at $3,978,000 after acquiring an additional 2,310 shares in the last quarter. Avanza Fonder AB increased its position in Johnson & Johnson by 2.9% in the 2nd quarter. Avanza Fonder AB now owns 234,647 shares of the company’s stock valued at $35,842,000 after acquiring an additional 6,566 shares in the last quarter. Joel Isaacson & Co. LLC increased its position in Johnson & Johnson by 3.5% in the 1st quarter. Joel Isaacson & Co. LLC now owns 74,132 shares of the company’s stock valued at $12,294,000 after acquiring an additional 2,526 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its position in Johnson & Johnson by 7.0% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 73,350 shares of the company’s stock valued at $12,164,000 after acquiring an additional 4,816 shares in the last quarter. 69.55% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total value of $10,041,108.51. Following the completion of the sale, the executive vice president owned 178,013 shares of the company’s stock, valued at approximately $31,652,491.53. This represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Trading Down 1.8%

JNJ opened at $186.94 on Wednesday. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $194.48. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.07 and a quick ratio of 0.80. The company has a market cap of $450.40 billion, a price-to-earnings ratio of 18.04, a price-to-earnings-growth ratio of 2.24 and a beta of 0.40. The firm has a 50 day simple moving average of $182.72 and a 200 day simple moving average of $166.92.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 32.73%. The firm had revenue of $24.02 billion during the quarter. On average, sell-side analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, November 25th. Johnson & Johnson’s dividend payout ratio is presently 50.19%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. UBS Group raised their price objective on shares of Johnson & Johnson from $190.00 to $214.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. The Goldman Sachs Group lifted their price target on shares of Johnson & Johnson from $186.00 to $212.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Erste Group Bank raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Citigroup boosted their price target on shares of Johnson & Johnson from $213.00 to $215.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Finally, Wall Street Zen raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $199.05.

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.