Miracle Mile Advisors LLC Has $11.38 Million Holdings in Johnson & Johnson (NYSE:JNJ)

Miracle Mile Advisors LLC boosted its stake in Johnson & Johnson (NYSE:JNJ) by 61.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 87,988 shares of the company’s stock after purchasing an additional 33,624 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Johnson & Johnson were worth $11,384,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of JNJ. Phocas Financial Corp. raised its stake in Johnson & Johnson by 999,928.6% in the second quarter. Phocas Financial Corp. now owns 125,173,583 shares of the company’s stock valued at $1,743,000 after purchasing an additional 125,161,066 shares in the last quarter. Nuveen Asset Management LLC raised its stake in Johnson & Johnson by 5,447.1% in the second quarter. Nuveen Asset Management LLC now owns 16,924,656 shares of the company’s stock valued at $2,357,266,000 after purchasing an additional 16,619,550 shares in the last quarter. Thoroughbred Financial Services LLC raised its stake in Johnson & Johnson by 14,147.0% in the second quarter. Thoroughbred Financial Services LLC now owns 4,014,247 shares of the company’s stock valued at $401,425,000 after purchasing an additional 3,986,071 shares in the last quarter. Renaissance Technologies LLC raised its stake in Johnson & Johnson by 145.5% in the second quarter. Renaissance Technologies LLC now owns 4,341,162 shares of the company’s stock valued at $604,637,000 after purchasing an additional 2,572,695 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Johnson & Johnson by 11.9% in the second quarter. Price T Rowe Associates Inc. MD now owns 20,791,713 shares of the company’s stock valued at $2,895,870,000 after purchasing an additional 2,204,757 shares in the last quarter. 72.21% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE JNJ opened at $134.83 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 1.00 and a debt-to-equity ratio of 0.46. The company has a market cap of $355.14 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 2.28 and a beta of 0.69. Johnson & Johnson has a 12 month low of $121.00 and a 12 month high of $148.99. The stock has a 50-day moving average price of $131.30 and a two-hundred day moving average price of $133.76.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, October 15th. The company reported $2.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.00 by $0.12. The firm had revenue of $20.73 billion during the quarter, compared to the consensus estimate of $20.14 billion. Johnson & Johnson had a return on equity of 39.81% and a net margin of 21.09%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.05 earnings per share. On average, sell-side analysts predict that Johnson & Johnson will post 8.66 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be paid a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Monday, November 25th. Johnson & Johnson’s dividend payout ratio is currently 46.45%.

JNJ has been the subject of a number of analyst reports. Sanford C. Bernstein raised Johnson & Johnson from a “market perform” rating to an “outperform” rating and set a $155.00 price target for the company in a research note on Friday, October 11th. Wells Fargo & Co dropped their price target on Johnson & Johnson from $157.00 to $155.00 and set an “outperform” rating for the company in a research note on Wednesday, October 16th. Zacks Investment Research raised Johnson & Johnson from a “sell” rating to a “hold” rating and set a $142.00 target price for the company in a research note on Thursday, October 17th. Raymond James lowered their target price on Johnson & Johnson from $146.00 to $145.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. Finally, Atlantic Securities raised Johnson & Johnson from an “underweight” rating to a “neutral” rating in a research note on Wednesday, October 16th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $151.64.

Johnson & Johnson Company Profile

Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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