Mengis Capital Management Inc. Sells 3,115 Shares of Johnson & Johnson (NYSE:JNJ)

Mengis Capital Management Inc. lowered its holdings in Johnson & Johnson (NYSE:JNJ) by 6.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 48,893 shares of the company’s stock after selling 3,115 shares during the quarter. Johnson & Johnson accounts for about 1.6% of Mengis Capital Management Inc.’s holdings, making the stock its 16th biggest position. Mengis Capital Management Inc.’s holdings in Johnson & Johnson were worth $7,924,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of JNJ. Innealta Capital LLC bought a new position in Johnson & Johnson in the 2nd quarter valued at about $27,000. Highline Wealth Partners LLC bought a new position in shares of Johnson & Johnson in the third quarter valued at approximately $31,000. Mowery & Schoenfeld Wealth Management LLC boosted its position in shares of Johnson & Johnson by 58.7% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after buying an additional 91 shares during the last quarter. Morton Brown Family Wealth LLC grew its holdings in Johnson & Johnson by 400.0% during the third quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock worth $41,000 after buying an additional 200 shares in the last quarter. Finally, MFA Wealth Advisors LLC bought a new position in Johnson & Johnson during the 2nd quarter valued at $43,000. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Trading Up 0.4 %

NYSE:JNJ opened at $153.28 on Thursday. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $168.85. The stock’s fifty day moving average price is $162.10 and its two-hundred day moving average price is $156.01. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. The company has a market cap of $369.04 billion, a P/E ratio of 22.18, a P/E/G ratio of 2.71 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The business had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. During the same quarter last year, the company earned $2.66 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. As a group, analysts expect that Johnson & Johnson will post 9.93 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s payout ratio is 71.78%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Sanford C. Bernstein increased their target price on shares of Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Wells Fargo & Company boosted their target price on Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Royal Bank of Canada increased their price target on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. TD Cowen cut their price objective on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Finally, Morgan Stanley lifted their target price on Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Johnson & Johnson presently has an average rating of “Moderate Buy” and a consensus target price of $175.00.

Insider Activity

In related news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction on Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the sale, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing 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, 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.