Johnson & Johnson (JNJ, Financial), Bank of America Corp. (BAC, Financial), Pfizer Inc. (PFE, Financial) and Wells Fargo & Co. (WFC, Financial) have reached their three-year lows.
Johnson & Johnson declined to $119.89
The price of Johnson & Johnson shares declined to $119.89 on March 20, which is only 1.5% above the three-year low of $118.13.
Johnson & Johnson is an American company that focuses on manufacturing medical devices, pharmaceutical products and consumer packaged goods. The company is a component of the Dow Jones Industrial Average and was ranked number 37 on the 2018 Fortune 500 list by total revenue.
Johnson & Johnson has a market cap of $316.07 billion; its shares were traded around $119.89 with a price-earnings ratio of 21.30 and a price-sales ratio of 3.92. The trailing 12-month dividend yield is 3.15%. The forward dividend yield is 2.99%. Johnson & Johnson had an annual average earnings growth of 4.30% over the past 10 years.
On March 13, Johnson & Johnson announced that its subsidiary, Janssen Pharmaceutical Companies, entered into a collaboration with the Beth Israel Deaconess Medical Center to support the development of a preventive vaccine candidate for Covid-19. The parties have started preclinical testing of multiple vaccine candidates with the aim to identify a vaccine for clinical trials by the end of the month.
Bank of America declined to $19.67
The price of Bank of America shares declined to $19.67 on March 20, which is only 3.4% above the three-year low of $19.
Bank of America is an investment banking and financial services company that was formed through NationsBank’s acquisition of BankAmerica in 1998. The company is the second-largest banking institution in the U.S. after JPMorgan Chase and services approximately 10.73% of all American bank deposits. The company is also a component of the S&P 100.
Bank of America has a market cap of $171.62 billion; its shares were traded around $19.67 with a price-earnings ratio of 7.20 and a price-sales ratio of 2.03. The trailing 12-month dividend yield is 3.50%. The forward dividend yield is 3.40%.
On March 19, Bank of America announced additional support for its 66 million consumer and small business clients in response to the challenges presented by the coronavirus outbreak. The company is offering assistance to clients through its Client Assistance Program and continuing to provide access to important financial services. The additional assistance includes request refunds on overdraft fees for consumer and small business deposit accounts, requests to defer payments and refunds on late fees on credit cards and payment deferrals on small business loans, among others.
Pfizer declined to $29.01
The price of Pfizer shares declined to $29.01 on March 20, which is only 0.3% above the three-year low of $28.91.
Pfizer is an international pharmaceutical corporation that was ranked number 57 on the 2018 Fortune 500 list by total revenue. The company focuses on developing and producing medicines and vaccines for a wide range of medical fields, including immunology, cardiology, oncology and neurology. The company is also a component of the S&P 100.
Pfizer has a market cap of $160.94 billion; its shares were traded around $29.01 with a price-earnings ratio of 10.12 and a price-sales ratio of 3.19. The trailing 12-month dividend yield is 5.04%. The forward dividend yield is 5.00%. Pfizer had an annual average earnings growth of 3.90% over the past 10 years.
On March 17, Pfizer announced it has agreed to a letter of intent regarding the co-development and distribution of a potential mRNA-based coronavirus vaccine with BioNTech SE. The companies have executed a Material Transfer and Collaboration Agreement to enable the two companies to start working together immediately. The collaboration aims to accelerate development of BNT 162, BioNTech’s potential Covid-19 mRNA vaccine program, which is expected to enter clinical testing by the end of April 2020.
Wells Fargo declined to $26.50
The price of Wells Fargo shares declined to $26.50 on March 20, which is only 2.3% above the three-year low of $25.89.
Wells Fargo is an American banking and financial services holding company. It is the world’s second-largest bank by market capitalization and the third-largest bank in the U.S. by assets. The company is the second-largest bank in deposits, home mortgage servicing and debit cards.
The bank has a market cap of $108.37 billion; its shares were traded around $26.50 with a price-earnings ratio of 6.60 and a price-sales ratio of 1.43. The trailing 12-month dividend yield is 7.47%. The forward dividend yield is 7.21%.
On March 16, Wells Fargo announced it was decreasing its prime rate to 3.25% from 4.25%, effective immediately.
Disclosure: I do not own stock in any of the companies mentioned in the article.
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