Mechanics Bank Trust Department Lowers stake in Johnson & Johnson (JNJ)

Johnson & Johnson (JNJ) : Mechanics Bank Trust Department reduced its stake in Johnson & Johnson by 0.48% during the most recent quarter end. The investment management company now holds a total of 98,379 shares of Johnson & Johnson which is valued at $11,148,308 after selling 477 shares in Johnson & Johnson , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.Johnson & Johnson makes up approximately 4.28% of Mechanics Bank Trust Department’s portfolio.

Johnson & Johnson closed down -0.14 points or -0.12% at $112.77 with 57,59,301 shares getting traded on Wednesday. Post opening the session at $112.96, the shares hit an intraday low of $112.46 and an intraday high of $113.2 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Concannon Wealth Management reduced its stake in JNJ by selling 445 shares or 15.85% in the most recent quarter. The Hedge Fund company now holds 2,363 shares of JNJ which is valued at $267,775. Johnson & Johnson makes up approx 0.27% of Concannon Wealth Management’s portfolio.Warren Averett Asset Management reduced its stake in JNJ by selling 176 shares or 3.57% in the most recent quarter. The Hedge Fund company now holds 4,749 shares of JNJ which is valued at $538,157. Johnson & Johnson makes up approx 0.32% of Warren Averett Asset Management’s portfolio.Northstar Group reduced its stake in JNJ by selling 200 shares or 0.51% in the most recent quarter. The Hedge Fund company now holds 38,851 shares of JNJ which is valued at $4,280,603. Johnson & Johnson makes up approx 3.25% of Northstar Group’s portfolio.Berkshire Asset Managementpa boosted its stake in JNJ in the latest quarter, The investment management firm added 7,160 additional shares and now holds a total of 180,464 shares of Johnson & Johnson which is valued at $19,883,524. Johnson & Johnson makes up approx 3.05% of Berkshire Asset Managementpa’s portfolio.Ct Mason boosted its stake in JNJ in the latest quarter, The investment management firm added 158 additional shares and now holds a total of 35,990 shares of Johnson & Johnson which is valued at $3,921,830. Johnson & Johnson makes up approx 1.77% of Ct Mason’s portfolio.

On the company’s financial health, Johnson & Johnson reported $1.68 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 19, 2016. Analyst had a consensus of $1.65. The company had revenue of $17482.00 million for the quarter, compared to analysts expectations of $17491.02 million. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.56 EPS.

Many Wall Street Analysts have commented on Johnson & Johnson. Company shares were Reiterated by RBC Capital Mkts on Apr 20, 2016 to “Outperform”, Firm has raised the Price Target to $ 125 from a previous price target of $122 .Company shares were Reiterated by Piper Jaffray on Apr 20, 2016 to “Neutral”, Firm has raised the Price Target to $ 106 from a previous price target of $105 .Company shares were Reiterated by RBC Capital Mkts on Apr 15, 2016 to “Outperform”, Firm has raised the Price Target to $ 122 from a previous price target of $114 .

Johnson & Johnson is a holding company. The Company is engaged in the research and development manufacture and sale of a range of products in the health care field. The Company has more than 265 operating companies conducting business around the world. The Company’s primary focus is products related to human health and well-being. The Company is organized into three business segments: Consumer Pharmaceutical and Medical Devices. The Company’s subsidiaries operate 134 manufacturing facilities occupying approximately 21.5 million square feet of floor space. The Company’s research facilities are located in the United States Belgium Brazil Canada China France Germany India Israel Japan the Netherlands Singapore Switzerland and the United Kingdom.

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