Confluence Wealth Services Inc. Invests $6.69 Million in Johnson & Johnson (NYSE:JNJ)

Confluence Wealth Services Inc. purchased a new position in shares of Johnson & Johnson (NYSE:JNJGet Rating) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 39,122 shares of the company’s stock, valued at approximately $6,692,000. Johnson & Johnson comprises approximately 2.2% of Confluence Wealth Services Inc.’s portfolio, making the stock its 3rd largest position.

A number of other institutional investors and hedge funds have also recently made changes to their positions in JNJ. Steward Financial Group LLC acquired a new position in shares of Johnson & Johnson in the fourth quarter valued at approximately $34,000. Iron Horse Wealth Management LLC grew its holdings in Johnson & Johnson by 29.9% during the 4th quarter. Iron Horse Wealth Management LLC now owns 265 shares of the company’s stock worth $45,000 after acquiring an additional 61 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Johnson & Johnson by 290.7% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 293 shares of the company’s stock valued at $47,000 after buying an additional 218 shares during the period. Retirement Group LLC lifted its position in Johnson & Johnson by 20.5% in the 4th quarter. Retirement Group LLC now owns 447 shares of the company’s stock valued at $77,000 after acquiring an additional 76 shares in the last quarter. Finally, Bell Investment Advisors Inc bought a new position in shares of Johnson & Johnson during the 3rd quarter worth approximately $76,000. Hedge funds and other institutional investors own 68.78% of the company’s stock.

Shares of NYSE:JNJ traded up $1.74 during midday trading on Thursday, hitting $177.87. 6,737,725 shares of the stock were exchanged, compared to its average volume of 7,970,503. The stock has a market cap of $468.05 billion, a P/E ratio of 23.97, a PEG ratio of 2.91 and a beta of 0.66. The company has a current ratio of 1.39, a quick ratio of 1.12 and a debt-to-equity ratio of 0.39. Johnson & Johnson has a twelve month low of $155.72 and a twelve month high of $186.69. The company has a 50 day moving average price of $177.83 and a 200-day moving average price of $170.32.

Johnson & Johnson (NYSE:JNJGet Rating) last posted its quarterly earnings results on Tuesday, April 19th. The company reported $2.67 EPS for the quarter, beating the consensus estimate of $2.60 by $0.07. The company had revenue of $23.43 billion during the quarter, compared to analysts’ expectations of $23.62 billion. Johnson & Johnson had a return on equity of 36.59% and a net margin of 20.90%. The firm’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.59 EPS. On average, equities research analysts expect that Johnson & Johnson will post 10.2 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 7th. Investors of record on Tuesday, May 24th will be given a dividend of $1.13 per share. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.06. This represents a $4.52 annualized dividend and a dividend yield of 2.54%. The ex-dividend date is Monday, May 23rd. Johnson & Johnson’s dividend payout ratio is currently 57.14%.

In other Johnson & Johnson news, insider William Hait sold 29,699 shares of the firm’s stock in a transaction that occurred on Thursday, April 21st. The stock was sold at an average price of $183.58, for a total value of $5,452,142.42. Following the sale, the insider now owns 80,236 shares of the company’s stock, valued at approximately $14,729,724.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thibaut Mongon sold 23,681 shares of the firm’s stock in a transaction on Thursday, March 17th. The shares were sold at an average price of $176.25, for a total value of $4,173,776.25. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.

A number of research analysts have recently commented on JNJ shares. StockNews.com lowered shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 30th. Sanford C. Bernstein cut shares of Johnson & Johnson from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $180.00 to $183.00 in a research report on Wednesday, March 16th. Credit Suisse Group upped their target price on shares of Johnson & Johnson from $200.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 20th. Raymond James increased their price target on shares of Johnson & Johnson from $195.00 to $196.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 20th. Finally, Bank of America initiated coverage on shares of Johnson & Johnson in a research note on Wednesday, March 2nd. They set a “neutral” rating for the company. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Johnson & Johnson has a consensus rating of “Buy” and a consensus target price of $188.57.

About Johnson & Johnson (Get Rating)

Johnson & Johnson researches and develops, manufactures, and sells various products in the healthcare field worldwide. It operates in three segments: Consumer Health, Pharmaceutical, and Medical Devices. The Consumer Health segment offers baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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