Mechanics Financial Corp Reduces Holdings in Johnson & Johnson (NYSE:JNJ)

Mechanics Financial Corp lessened its holdings in Johnson & Johnson (NYSE:JNJ) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,357 shares of the company’s stock after selling 177 shares during the period. Johnson & Johnson accounts for approximately 1.3% of Mechanics Financial Corp’s portfolio, making the stock its 19th largest holding. Mechanics Financial Corp’s holdings in Johnson & Johnson were worth $2,250,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. International Assets Investment Management LLC lifted its holdings in Johnson & Johnson by 7,875.8% in the 4th quarter. International Assets Investment Management LLC now owns 2,090,384 shares of the company’s stock valued at $327,647,000 after purchasing an additional 2,064,175 shares in the last quarter. LSV Asset Management raised its position in shares of Johnson & Johnson by 89.9% in the third quarter. LSV Asset Management now owns 2,251,770 shares of the company’s stock valued at $350,713,000 after buying an additional 1,065,880 shares during the last quarter. abrdn plc boosted its position in Johnson & Johnson by 104.1% during the fourth quarter. abrdn plc now owns 2,014,743 shares of the company’s stock worth $315,791,000 after acquiring an additional 1,027,441 shares during the last quarter. Commerzbank Aktiengesellschaft FI grew its stake in Johnson & Johnson by 2,264.8% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 822,725 shares of the company’s stock worth $128,139,000 after acquiring an additional 787,934 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in Johnson & Johnson by 22.2% during the third quarter. Envestnet Asset Management Inc. now owns 3,957,429 shares of the company’s stock worth $616,370,000 after buying an additional 719,472 shares during the period. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

JNJ has been the subject of several recent analyst reports. Bank of America lowered their price target on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Royal Bank of Canada dropped their price target on Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, April 17th. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a report on Monday. Finally, Morgan Stanley decreased their price objective on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Johnson & Johnson presently has an average rating of “Moderate Buy” and an average price target of $175.86.

Johnson & Johnson Stock Down 0.5 %

JNJ stock opened at $148.57 on Tuesday. The firm has a fifty day moving average price of $153.95 and a two-hundred day moving average price of $155.00. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $175.97. The firm has a market cap of $357.56 billion, a price-to-earnings ratio of 9.26, a PEG ratio of 2.46 and a beta of 0.55.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $0.07. The company had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. Johnson & Johnson’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.68 earnings per share. Research analysts predict that Johnson & Johnson will post 10.65 EPS for the current year.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st will be paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.34%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend is Monday, May 20th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 29.68%.

Insider Activity

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

Johnson & Johnson 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.