Mechanics Bank Trust Department Sells 1,740 Shares of Johnson & Johnson (NYSE:JNJ)

Mechanics Bank Trust Department cut its holdings in Johnson & Johnson (NYSE:JNJ) by 2.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,840 shares of the company’s stock after selling 1,740 shares during the quarter. Johnson & Johnson makes up approximately 1.8% of Mechanics Bank Trust Department’s holdings, making the stock its 11th largest holding. Mechanics Bank Trust Department’s holdings in Johnson & Johnson were worth $11,560,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. DORCHESTER WEALTH MANAGEMENT Co boosted its holdings in Johnson & Johnson by 8.6% in the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 67,618 shares of the company’s stock worth $14,975,000 after buying an additional 5,327 shares during the period. Cantor Fitzgerald Investment Advisor L.P lifted its stake in Johnson & Johnson by 88.9% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 175,194 shares of the company’s stock worth $31,049,000 after purchasing an additional 82,429 shares during the last quarter. AMI Investment Management Inc. lifted its stake in Johnson & Johnson by 8.8% in the first quarter. AMI Investment Management Inc. now owns 18,305 shares of the company’s stock worth $3,244,000 after purchasing an additional 1,475 shares during the last quarter. Equitable Holdings Inc. increased its position in shares of Johnson & Johnson by 4.9% during the first quarter. Equitable Holdings Inc. now owns 45,673 shares of the company’s stock worth $8,095,000 after acquiring an additional 2,119 shares during the period. Finally, USS Investment Management Ltd increased its position in shares of Johnson & Johnson by 2.4% during the first quarter. USS Investment Management Ltd now owns 860,371 shares of the company’s stock worth $152,488,000 after acquiring an additional 20,528 shares during the period. 68.40% of the stock is owned by institutional investors.

Insider Buying and Selling at Johnson & Johnson

In related news, VP Peter Fasolo sold 20,000 shares of the stock in a transaction on 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 completion of the transaction, the vice president now owns 102,696 shares in the company, valued at $17,491,182.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider William Hait sold 14,698 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $172.00, for a total transaction of $2,528,056.00. Following the transaction, the insider now directly owns 87,747 shares of the company’s stock, valued at $15,092,484. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Peter Fasolo sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $170.32, for a total transaction of $3,406,400.00. Following the transaction, the vice president now directly owns 102,696 shares in the company, valued at $17,491,182.72. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $162.41 on Tuesday. The firm’s 50-day moving average is $166.21 and its 200-day moving average is $161.83. Johnson & Johnson has a 52-week low of $150.11 and a 52-week high of $181.04. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.88 and a current ratio of 1.12. The company has a market cap of $422.10 billion, a price-to-earnings ratio of 32.88, a PEG ratio of 3.31 and a beta of 0.54.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Thursday, July 20th. The company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.18. The business had revenue of $25.53 billion for the quarter, compared to analyst estimates of $24.63 billion. Johnson & Johnson had a net margin of 13.35% and a return on equity of 36.72%. The firm’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.59 EPS. Equities research analysts anticipate that Johnson & Johnson will post 10.03 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Shareholders of record on Monday, August 28th were paid a $1.19 dividend. This represents a $4.76 annualized dividend and a yield of 2.93%. The ex-dividend date was Friday, August 25th. Johnson & Johnson’s payout ratio is presently 96.36%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Credit Suisse Group lifted their price target on shares of Johnson & Johnson from $170.00 to $175.00 and gave the stock a “neutral” rating in a report on Friday, July 21st. HSBC assumed coverage on Johnson & Johnson in a report on Wednesday, September 6th. They issued a “hold” rating and a $175.00 price target for the company. StockNews.com lowered Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 8th. Morgan Stanley dropped their price target on Johnson & Johnson from $187.00 to $172.00 and set an “equal weight” rating for the company in a research report on Thursday, August 31st. Finally, Citigroup initiated coverage on Johnson & Johnson in a research report on Tuesday, May 30th. They issued a “buy” rating and a $185.00 price objective for the company. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $170.65.

About Johnson & Johnson

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.