Mechanics Bank Trust Department Has $6.66 Million Holdings in Johnson & Johnson $JNJ

Key Points

• Mechanics Bank Trust Department reduced its holdings in Johnson & Johnson by 20.2%, bringing its total investment to $6.66 million after selling 11,048 shares.
• Johnson & Johnson's stock has seen significant interest from institutional investors, with 69.55% of its shares owned by such entities.
• Analysts have a generally positive outlook for JNJ, with a moderate buy rating and a price target averaging $178.80, signaling potential growth ahead.

Mechanics Bank Trust Department lessened its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 20.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 43,623 shares of the company's stock after selling 11,048 shares during the quarter. Mechanics Bank Trust Department's holdings in Johnson & Johnson were worth $6,663,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in JNJ. Highline Wealth Partners LLC boosted its holdings in shares of Johnson & Johnson by 51.8% during the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock worth $42,000 after buying an additional 86 shares in the last quarter. Stone House Investment Management LLC bought a new position in shares of Johnson & Johnson during the 1st quarter worth approximately $47,000. 1248 Management LLC bought a new position in shares of Johnson & Johnson during the 1st quarter worth approximately $48,000. von Borstel & Associates Inc. bought a new position in shares of Johnson & Johnson during the 1st quarter worth approximately $49,000. Finally, Capital A Wealth Management LLC bought a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $50,000. Institutional investors and hedge funds own 69.55% of the company's stock.

Insiders Place Their Bets

In related news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $177.81, for a total value of $10,041,108.51. Following the completion of the sale, the executive vice president owned 178,013 shares of the company's stock, valued at approximately $31,652,491.53. This trade represents a 24.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.16% of the company's stock.

Wall Street Analysts Forecast Growth

JNJ has been the topic of a number of research analyst reports. Guggenheim restated a "neutral" rating and set a $167.00 price target (up from $164.00) on shares of Johnson & Johnson in a report on Thursday, July 17th. Morgan Stanley increased their target price on Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Bank of America increased their target price on Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Piper Sandler reiterated an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Finally, Royal Bank Of Canada increased their target price on Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, Johnson & Johnson currently has an average rating of "Moderate Buy" and an average price target of $178.80.

Johnson & Johnson Trading Down 1.1%

Shares of Johnson & Johnson stock opened at $174.22 on Tuesday. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $181.16. The firm has a market cap of $419.58 billion, a PE ratio of 18.63, a P/E/G ratio of 2.24 and a beta of 0.40. The stock has a fifty day moving average price of $173.14 and a 200-day moving average price of $161.69. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.09. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%.The firm had revenue of $23.74 billion during the quarter, compared to analyst estimates of $22.85 billion. During the same period last year, the firm posted $2.82 EPS. The business's revenue was up 5.8% compared to the same quarter last year. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. Equities research analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th were issued a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, August 26th. This represents a $5.20 annualized dividend and a yield of 3.0%. Johnson & Johnson's dividend payout ratio (DPR) is 55.61%.

Johnson & Johnson Company Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.

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