Mengis Capital Management Inc. Cuts Stock Holdings in Johnson & Johnson $JNJ

Key Points

• Mengis Capital Management Inc. has reduced its holdings in Johnson & Johnson by 22%, owning 36,274 shares worth approximately $5.54 million, making it the fund's 19th largest position.
• Johnson & Johnson has announced a quarterly dividend of $1.30 per share, representing an annualized dividend of $5.20 and a yield of 2.7%.
• Recent analyst reports set price targets for Johnson & Johnson with a consensus target of $192.94, indicating a favorable outlook for the stock.

Mengis Capital Management Inc. trimmed its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 22.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,274 shares of the company's stock after selling 10,250 shares during the quarter. Johnson & Johnson accounts for approximately 1.2% of Mengis Capital Management Inc.'s portfolio, making the stock its 19th largest holding. Mengis Capital Management Inc.'s holdings in Johnson & Johnson were worth $5,541,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Horizon Bancorp Inc. IN boosted its holdings in shares of Johnson & Johnson by 11.2% in the 2nd quarter. Horizon Bancorp Inc. IN now owns 636 shares of the company's stock worth $97,000 after buying an additional 64 shares during the last quarter. Global Strategic Investment Solutions LLC boosted its holdings in shares of Johnson & Johnson by 3.5% in the 2nd quarter. Global Strategic Investment Solutions LLC now owns 1,925 shares of the company's stock worth $294,000 after buying an additional 65 shares during the last quarter. JSF Financial LLC boosted its holdings in shares of Johnson & Johnson by 2.2% in the 2nd quarter. JSF Financial LLC now owns 2,993 shares of the company's stock worth $457,000 after buying an additional 65 shares during the last quarter. Elios Financial Group Inc. boosted its holdings in shares of Johnson & Johnson by 1.5% in the 1st quarter. Elios Financial Group Inc. now owns 4,496 shares of the company's stock worth $746,000 after buying an additional 66 shares during the last quarter. Finally, Atlantic Family Wealth LLC raised its stake in Johnson & Johnson by 4.4% in the 1st quarter. Atlantic Family Wealth LLC now owns 1,603 shares of the company's stock valued at $266,000 after acquiring an additional 67 shares during the period. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Trading Down 0.2%

Shares of JNJ opened at $190.66 on Friday. The business's 50-day moving average price is $178.48 and its 200-day moving average price is $163.77. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $192.10. The stock has a market cap of $459.16 billion, a PE ratio of 20.39, a P/E/G ratio of 2.40 and a beta of 0.40. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%.The firm had revenue of $24.02 billion for the quarter. On average, equities analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Tuesday, August 26th. Johnson & Johnson's dividend payout ratio is 55.61%.

Analysts Set New Price Targets

JNJ has been the topic of a number of research reports. Wells Fargo & Company set a $212.00 price objective on Johnson & Johnson and gave the company an "overweight" rating in a research note on Friday, October 3rd. Bank of America boosted their price objective on Johnson & Johnson from $175.00 to $198.00 and gave the company a "neutral" rating in a research note on Friday, October 3rd. Piper Sandler restated an "overweight" rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. UBS Group set a $198.00 price objective on Johnson & Johnson in a research note on Friday, October 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on Johnson & Johnson from $185.00 to $200.00 and gave the company a "neutral" rating in a research note on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Johnson & Johnson has an average rating of "Moderate Buy" and a consensus price target of $192.94.

Insider Buying and Selling at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the company's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total value of $10,041,108.51. Following the transaction, the executive vice president directly owned 178,013 shares in the company, valued at approximately $31,652,491.53. This represents a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.16% of the company's stock.

Johnson & Johnson 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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