Econ Financial Services Corp Sells 4,074 Shares of Johnson & Johnson $JNJ

Econ Financial Services Corp trimmed its position in Johnson & Johnson (NYSE:JNJ) by 25.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,888 shares of the company’s stock after selling 4,074 shares during the period. Econ Financial Services Corp’s holdings in Johnson & Johnson were worth $2,204,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in JNJ. Norges Bank purchased a new stake in Johnson & Johnson during the second quarter valued at approximately $4,877,174,000. Laurel Wealth Advisors LLC grew its position in shares of Johnson & Johnson by 15,040.6% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 7,420,699 shares of the company’s stock valued at $1,133,512,000 after acquiring an additional 7,371,687 shares during the period. Vanguard Group Inc. increased its stake in shares of Johnson & Johnson by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 237,047,859 shares of the company’s stock worth $36,209,060,000 after purchasing an additional 3,085,180 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Johnson & Johnson by 159.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,159,260 shares of the company’s stock worth $635,327,000 after purchasing an additional 2,557,388 shares during the period. Finally, Kingstone Capital Partners Texas LLC purchased a new position in Johnson & Johnson during the second quarter valued at $401,420,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $207.26 on Monday. The firm has a market cap of $499.35 billion, a price-to-earnings ratio of 20.01, a P/E/G ratio of 2.13 and a beta of 0.34. The firm has a fifty day moving average price of $201.17 and a 200 day moving average price of $183.07. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $215.18. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.80 and a current ratio of 1.07.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly 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 business had revenue of $24.02 billion for the quarter. As a group, sell-side analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, February 24th. This represents a $5.20 dividend on an annualized basis and a yield of 2.5%. Johnson & Johnson’s dividend payout ratio is presently 50.19%.

Analysts Set New Price Targets

Several research analysts have recently commented on JNJ shares. Johnson Rice set a $190.00 price objective on Johnson & Johnson and gave the stock a “hold” rating in a research note on Wednesday, October 22nd. Cowen restated a “buy” rating on shares of Johnson & Johnson in a research note on Tuesday, October 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Johnson & Johnson in a report on Friday, October 31st. The Goldman Sachs Group raised their price objective on shares of Johnson & Johnson from $213.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, December 18th. Finally, Citigroup upped their target price on shares of Johnson & Johnson from $215.00 to $232.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Four analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $211.25.

Johnson & Johnson Company 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.