Miracle Mile Advisors LLC Trims Stock Position in Johnson & Johnson $JNJ

Miracle Mile Advisors LLC decreased its stake in Johnson & Johnson (NYSE:JNJ) by 6.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 119,329 shares of the company’s stock after selling 8,477 shares during the period. Miracle Mile Advisors LLC’s holdings in Johnson & Johnson were worth $22,126,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Johnson & Johnson during the second quarter worth about $4,877,174,000. Laurel Wealth Advisors LLC boosted its position in shares of Johnson & Johnson by 15,040.6% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 7,420,699 shares of the company’s stock valued at $1,133,512,000 after purchasing an additional 7,371,687 shares during the period. Vanguard Group Inc. grew its stake in Johnson & Johnson by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 237,047,859 shares of the company’s stock worth $36,209,060,000 after buying an additional 3,085,180 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Johnson & Johnson by 159.6% during the second quarter. Assenagon Asset Management S.A. now owns 4,159,260 shares of the company’s stock worth $635,327,000 after buying an additional 2,557,388 shares during the period. Finally, Kingstone Capital Partners Texas LLC purchased a new stake in Johnson & Johnson in the second quarter valued at approximately $401,420,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on JNJ. UBS Group upped their price target on shares of Johnson & Johnson from $190.00 to $214.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. Wells Fargo & Company upped their target price on shares of Johnson & Johnson from $212.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, December 12th. Barclays raised their price target on Johnson & Johnson from $197.00 to $217.00 and gave the stock an “equal weight” rating in a report on Tuesday. Scotiabank initiated coverage on Johnson & Johnson in a research note on Thursday, November 13th. They set a “sector outperform” rating and a $230.00 price objective for the company. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Johnson & Johnson in a research note on Thursday, December 11th. Four analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average price target of $211.25.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $207.26 on Friday. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $215.18. The company has a 50-day moving average price of $201.17 and a 200 day moving average price of $182.64. The company has a market cap of $499.35 billion, a P/E ratio of 20.01, a PEG ratio of 2.12 and a beta of 0.34. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.50.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share (EPS) for the quarter. The business had revenue of $24.02 billion during the quarter. Johnson & Johnson had a return on equity of 32.73% and a net margin of 27.26%. Research analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Tuesday, February 24th. Johnson & Johnson’s payout ratio is presently 50.19%.

About Johnson & Johnson

Johnson & Johnson is a multinational healthcare company headquartered in New Brunswick, New Jersey, that develops, manufactures and markets a broad range of products across pharmaceuticals, medical devices and previously consumer health. Founded in 1886 by the Johnson family, the company has grown into a global healthcare organization with operations and sales in many countries around the world.

The company’s pharmaceuticals business, organized largely under its Janssen research and development organization, focuses on prescription medicines across therapeutic areas such as immunology, infectious disease, oncology and neuroscience.