Mechanics Bank Trust Department Sells 2,310 Shares of Johnson & Johnson (NYSE:JNJ)

Mechanics Bank Trust Department decreased its position in Johnson & Johnson (NYSE:JNJ) by 3.9% during the second quarter, HoldingsChannel reports. The firm owned 57,296 shares of the company’s stock after selling 2,310 shares during the quarter. Johnson & Johnson comprises approximately 1.2% of Mechanics Bank Trust Department’s holdings, making the stock its 25th biggest position. Mechanics Bank Trust Department’s holdings in Johnson & Johnson were worth $8,374,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Pathway Financial Advisors LLC lifted its position in shares of Johnson & Johnson by 4.3% during the 4th quarter. Pathway Financial Advisors LLC now owns 5,438 shares of the company’s stock worth $852,000 after purchasing an additional 226 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Johnson & Johnson by 5.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 297,850 shares of the company’s stock valued at $46,685,000 after acquiring an additional 15,490 shares during the period. Drive Wealth Management LLC grew its stake in shares of Johnson & Johnson by 4.5% in the first quarter. Drive Wealth Management LLC now owns 9,625 shares of the company’s stock worth $1,523,000 after acquiring an additional 414 shares during the last quarter. Vestmark Advisory Solutions Inc. grew its position in Johnson & Johnson by 12.7% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 19,587 shares of the company’s stock worth $3,070,000 after buying an additional 2,201 shares in the last quarter. Finally, California Public Employees Retirement System increased its position in shares of Johnson & Johnson by 4.9% during the fourth quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock valued at $1,664,620,000 after purchasing an additional 498,647 shares during the period. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Trading Up 0.2 %

Shares of NYSE:JNJ traded up $0.40 during mid-day trading on Friday, reaching $160.62. The stock had a trading volume of 4,579,186 shares, compared to its average volume of 7,354,407. The firm has a market cap of $386.56 billion, a PE ratio of 10.01, a price-to-earnings-growth ratio of 2.63 and a beta of 0.52. The firm has a 50 day simple moving average of $151.17 and a two-hundred day simple moving average of $153.06. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $175.97.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. The business had revenue of $22.45 billion during the quarter, compared to analysts’ expectations of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.80 EPS. On average, research analysts predict that Johnson & Johnson will post 10.07 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th will be given a $1.24 dividend. The ex-dividend date is Tuesday, August 27th. This represents a $4.96 annualized dividend and a dividend yield of 3.09%. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Analysts Set New Price Targets

Several research firms recently issued reports on JNJ. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research report on Monday, August 5th. Bank of America decreased their price objective on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a research note on Tuesday, July 30th. Sanford C. Bernstein raised their price objective on shares of Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Finally, TD Securities decreased their price target on shares of Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.21.

Johnson & Johnson Company 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.