Johnson & Johnson (NYSE:JNJ) Shares Sold by Mengis Capital Management Inc.

Posted by Defense World Staff on Aug 12th, 2023

Mengis Capital Management Inc. cut its holdings in Johnson & Johnson (NYSE:JNJ – Free Report) by 0.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 58,025 shares of the company’s stock after selling 213 shares during the period. Johnson & Johnson accounts for about 1.9% of Mengis Capital Management Inc.’s holdings, making the stock its 12th biggest position. Mengis Capital Management Inc.’s holdings in Johnson & Johnson were worth $8,994,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Moneta Group Investment Advisors LLC raised its holdings in Johnson & Johnson by 90,144.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 54,386,720 shares of the company’s stock valued at $9,607,414,000 after acquiring an additional 54,326,454 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Johnson & Johnson by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 47,958,583 shares of the company’s stock worth $8,456,643,000 after buying an additional 294,671 shares during the last quarter. Morgan Stanley increased its holdings in shares of Johnson & Johnson by 12.0% during the 4th quarter. Morgan Stanley now owns 42,224,521 shares of the company’s stock worth $7,458,962,000 after buying an additional 4,521,062 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Johnson & Johnson by 15.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,277,774 shares of the company’s stock worth $5,171,919,000 after buying an additional 3,849,148 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Johnson & Johnson during the 4th quarter worth $4,609,399,000. 67.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on JNJ. JPMorgan Chase & Co. upped their price objective on Johnson & Johnson from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, July 21st. Stifel Nicolaus upped their price target on shares of Johnson & Johnson from $165.00 to $175.00 in a research report on Friday, July 21st. TheStreet cut shares of Johnson & Johnson from a “b” rating to a “c+” rating in a research report on Friday, May 19th. Credit Suisse Group upped their price target on shares of Johnson & Johnson from $170.00 to $175.00 and gave the stock a “neutral” rating in a research report on Friday, July 21st. Finally, Barclays upped their price target on shares of Johnson & Johnson from $171.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Monday, July 24th. Eight research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $171.80.

Check Out Our Latest Report on Johnson & Johnson

Insider Transactions at Johnson & Johnson

In other news, EVP Kathryn E. Wengel sold 12,465 shares of the stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $160.00, for a total transaction of $1,994,400.00. Following the transaction, the executive vice president now owns 65,934 shares of the company’s stock, valued at $10,549,440. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Peter Fasolo sold 20,000 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $170.32, for a total transaction of $3,406,400.00. Following the sale, the vice president now owns 102,696 shares in the company, valued at $17,491,182.72. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kathryn E. Wengel sold 12,465 shares of the stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $160.00, for a total transaction of $1,994,400.00. Following the sale, the executive vice president now owns 65,934 shares in the company, valued at approximately $10,549,440. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,163 shares of company stock valued at $7,928,856. Insiders own 0.20% of the company’s stock.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $173.85 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 0.88. Johnson & Johnson has a 1-year low of $150.11 and a 1-year high of $181.04. The firm has a 50-day moving average of $164.56 and a two-hundred day moving average of $161.21. The stock has a market cap of $451.83 billion, a P/E ratio of 35.19, a PEG ratio of 2.90 and a beta of 0.54.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last issued its quarterly earnings results on Thursday, July 20th. The company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.62 by $0.18. Johnson & Johnson had a net margin of 13.35% and a return on equity of 36.72%. The business had revenue of $25.53 billion for the quarter, compared to analysts’ expectations of $24.63 billion. During the same quarter last year, the company posted $2.59 earnings per share. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, research analysts expect that Johnson & Johnson will post 10.75 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Monday, August 28th will be given a dividend of $1.19 per share. The ex-dividend date of this dividend is Friday, August 25th. This represents a $4.76 annualized dividend and a dividend yield of 2.74%. Johnson & Johnson’s payout ratio is 96.36%.

Johnson & Johnson Company Profile

(Free Report)

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment provides skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR. CI:LABO, NEUTROGENA, and OGX brands; baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; TYLENOL acetaminophen products; SUDAFED cold, flu, and allergy products; BENADRYL and ZYRTEC allergy products; MOTRIN IB ibuprofen products; NICORETTE smoking cessation products; and PEPCID acid reflux products.