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

Mengis Capital Management Inc. decreased its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 0.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 biggest 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 institutional investors also recently modified their holdings of the business. Raymond James & Associates boosted its stake in Johnson & Johnson by 0.4% during the 4th quarter. Raymond James & Associates now owns 6,061,707 shares of the company’s stock worth $950,112,000 after acquiring an additional 26,982 shares during the last quarter. Ninety One UK Ltd boosted its stake in Johnson & Johnson by 0.3% during the 4th quarter. Ninety One UK Ltd now owns 4,436,013 shares of the company’s stock worth $695,301,000 after acquiring an additional 12,867 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Johnson & Johnson by 4.8% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 4,396,416 shares of the company’s stock worth $688,198,000 after acquiring an additional 200,193 shares during the last quarter. Stifel Financial Corp boosted its stake in Johnson & Johnson by 2.9% during the 3rd quarter. Stifel Financial Corp now owns 4,306,268 shares of the company’s stock worth $670,726,000 after acquiring an additional 120,891 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Johnson & Johnson by 22.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 3,957,429 shares of the company’s stock worth $616,370,000 after acquiring an additional 719,472 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Raymond James lifted their price objective on shares of Johnson & Johnson from $172.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Monday, April 15th. 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 research note 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 research note on Wednesday, April 17th. Finally, Royal Bank of Canada cut their price target on shares of Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $175.86.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the transaction, the insider now directly owns 4,099,575 shares in the company, valued at $105,810,030.75. The transaction was disclosed in a filing with the SEC, which is available 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 on Friday, February 16th. The shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the transaction, the insider now directly owns 4,099,575 shares in the company, valued at $105,810,030.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jennifer L. Taubert sold 59,397 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $156.27, for a total transaction 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. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Price Performance

Shares of JNJ opened at $146.14 on Friday. The company has a market cap of $352.17 billion, a price-to-earnings ratio of 9.11, a PEG ratio of 2.41 and a beta of 0.53. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $175.97. The company’s fifty day simple moving average is $155.26 and its 200 day simple moving average is $155.30. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.38.

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

Johnson & Johnson Increases Dividend

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

Johnson & Johnson Company Profile

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.