Mengis Capital Management Inc. Has $9 Million Position in Johnson & Johnson (NYSE:JNJ)

Mengis Capital Management Inc. lowered its holdings in Johnson & Johnson (NYSE:JNJ) by 0.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 57,385 shares of the company’s stock after selling 160 shares during the quarter. Johnson & Johnson comprises approximately 1.7% of Mengis Capital Management Inc.’s investment portfolio, making the stock its 12th largest holding. Mengis Capital Management Inc.’s holdings in Johnson & Johnson were worth $8,995,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Essex LLC boosted its holdings in Johnson & Johnson by 5.8% during the 3rd quarter. Essex LLC now owns 32,564 shares of the company’s stock worth $5,072,000 after acquiring an additional 1,775 shares during the last quarter. Capital Investment Advisors LLC purchased a new position in Johnson & Johnson during the 3rd quarter worth $62,997,000. Shore Point Advisors LLC boosted its holdings in Johnson & Johnson by 48.2% during the 3rd quarter. Shore Point Advisors LLC now owns 2,624 shares of the company’s stock worth $409,000 after acquiring an additional 853 shares during the last quarter. Guidance Capital Inc. boosted its holdings in shares of Johnson & Johnson by 5.9% in the 3rd quarter. Guidance Capital Inc. now owns 4,755 shares of the company’s stock worth $739,000 after buying an additional 267 shares during the last quarter. Finally, Onyx Bridge Wealth Group LLC boosted its holdings in shares of Johnson & Johnson by 3.5% in the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 5,218 shares of the company’s stock worth $813,000 after buying an additional 178 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on JNJ. Bank of America cut their price target on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Morgan Stanley cut their price target on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a report on Monday, April 15th. Raymond James boosted their price target on shares of Johnson & Johnson from $172.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, January 3rd. Finally, HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and boosted their price objective for the company from $169.00 to $170.00 in a research note on Thursday, April 18th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus price target of $175.86.

Johnson & Johnson Trading Down 0.5 %

Shares of JNJ opened at $146.14 on Friday. The business’s 50-day moving average price is $155.26 and its 200-day moving average price is $155.30. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $175.97. The stock has a market cap of $352.17 billion, a PE ratio of 9.11, a P/E/G ratio of 2.41 and a beta of 0.53. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.38.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.43% and a net margin of 45.26%. The firm had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.39 billion. During the same period in the prior year, the business posted $2.68 earnings per share. The company’s revenue was up 2.3% on a year-over-year basis. On average, equities analysts forecast that Johnson & Johnson will post 10.65 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be issued a dividend of $1.24 per share. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date is Monday, May 20th. This represents a $4.96 annualized dividend and a dividend yield of 3.39%. Johnson & Johnson’s payout ratio is presently 29.68%.

Insider Transactions at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 59,397 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the completion of the transaction, the executive vice president now owns 141,416 shares of the company’s stock, valued at $22,099,078.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Johnson & Johnson news, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $25.81, for a total value of $96,142.25. Following the completion of the sale, the insider now owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jennifer L. Taubert sold 59,397 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $156.27, for a total value of $9,281,969.19. Following the completion of the sale, the executive vice president now directly owns 141,416 shares of the company’s stock, valued at approximately $22,099,078.32. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.

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.