Mengis Capital Management Inc. cut its stake in Johnson & Johnson (NYSE:JNJ) by 2.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,485 shares of the company’s stock after selling 680 shares during the period. Johnson & Johnson accounts for 3.0% of Mengis Capital Management Inc.’s portfolio, making the stock its 6th largest position. Mengis Capital Management Inc.’s holdings in Johnson & Johnson were worth $3,601,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Americafirst Capital Management LLC purchased a new stake in shares of Johnson & Johnson during the second quarter valued at $101,000. Tuttle Tactical Management LLC purchased a new stake in shares of Johnson & Johnson during the second quarter valued at $103,000. Lenox Wealth Management Inc. raised its stake in shares of Johnson & Johnson by 24.3% in the second quarter. Lenox Wealth Management Inc. now owns 972 shares of the company’s stock valued at $118,000 after buying an additional 190 shares during the period. Thomas J. Herzfeld Advisors Inc. raised its stake in shares of Johnson & Johnson by 221.2% in the second quarter. Thomas J. Herzfeld Advisors Inc. now owns 1,002 shares of the company’s stock valued at $122,000 after buying an additional 690 shares during the period. Finally, NCM Capital Management Group Inc. purchased a new stake in shares of Johnson & Johnson during the second quarter valued at $127,000. 65.28% of the stock is owned by institutional investors.
Shares of Johnson & Johnson (NYSE:JNJ) traded up 0.488% during trading on Wednesday, reaching $112.305. The company’s stock had a trading volume of 4,495,340 shares. The stock has a market cap of $305.53 billion, a price-to-earnings ratio of 19.713 and a beta of 0.72. Johnson & Johnson has a 12-month low of $99.78 and a 12-month high of $126.07. The company has a 50 day moving average of $114.82 and a 200-day moving average of $117.92.
Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, January 24th. The company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.02. Johnson & Johnson had a return on equity of 25.30% and a net margin of 22.03%. The firm earned $18.10 billion during the quarter, compared to analysts’ expectations of $18.28 billion. During the same quarter last year, the business posted $1.44 earnings per share. The firm’s revenue was up 1.7% on a year-over-year basis. Analysts forecast that Johnson & Johnson will post $6.71 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 14th. Investors of record on Tuesday, February 28th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Friday, February 24th. Johnson & Johnson’s payout ratio is presently 56.64%.
Several brokerages have commented on JNJ. Argus restated a “buy” rating and issued a $145.00 target price on shares of Johnson & Johnson in a research note on Friday, October 21st. Vetr upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and set a $121.49 target price for the company in a research note on Tuesday, October 18th. RBC Capital Markets set a $133.00 target price on Johnson & Johnson and gave the stock a “buy” rating in a research note on Wednesday, November 9th. Barclays PLC downgraded Johnson & Johnson from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $130.00 to $125.00 in a research note on Tuesday, November 29th. They noted that the move was a valuation call. Finally, Bank of America Corporation restated a “hold” rating and issued a $126.00 target price on shares of Johnson & Johnson in a research note on Monday, November 28th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the company. Johnson & Johnson presently has an average rating of “Hold” and an average price target of $121.93.
Johnson & Johnson Company Profile
Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of a range of products in the healthcare field. The Company’s segments include Consumer, Pharmaceutical and Medical Devices. The Consumer segment includes a range of products used in the baby care, oral care, skin care, over-the-counter pharmaceutical, women’s health and wound care markets.
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