Miracle Mile Advisors LLC Sells 2,397 Shares of Johnson & Johnson (NYSE:JNJ)

Miracle Mile Advisors LLC cut its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 2.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 116,803 shares of the company's stock after selling 2,397 shares during the quarter. Miracle Mile Advisors LLC's holdings in Johnson & Johnson were worth $19,371,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. WealthTrak Capital Management LLC purchased a new stake in Johnson & Johnson in the 4th quarter valued at about $26,000. Mountain Hill Investment Partners Corp. purchased a new position in Johnson & Johnson in the 4th quarter valued at approximately $29,000. Bay Harbor Wealth Management LLC purchased a new position in Johnson & Johnson in the 4th quarter valued at approximately $32,000. Conquis Financial LLC bought a new position in Johnson & Johnson in the 4th quarter valued at $33,000. Finally, Bernard Wealth Management Corp. bought a new position in Johnson & Johnson in the 4th quarter valued at $36,000. Institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Up 0.9%

NYSE:JNJ opened at $155.02 on Friday. The company has a market cap of $372.99 billion, a PE ratio of 23.31, a P/E/G ratio of 2.56 and a beta of 0.42. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. The company's 50 day moving average is $153.59 and its two-hundred day moving average is $153.68.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.18. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The firm had revenue of $21.89 billion during the quarter, compared to analysts' expectations of $21.65 billion. Analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This is a boost from Johnson & Johnson's previous quarterly dividend of $1.24. This represents a $5.20 dividend on an annualized basis and a yield of 3.35%. Johnson & Johnson's dividend payout ratio is currently 57.84%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Leerink Partners lowered shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $169.00 to $153.00 in a research report on Tuesday, May 13th. Barclays reduced their price target on shares of Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Benchmark upgraded shares of Johnson & Johnson to a "strong-buy" rating in a report on Thursday, April 24th. Bank of America dropped their target price on shares of Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Finally, Leerink Partnrs downgraded shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Eleven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $170.88.

Johnson & Johnson Company Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.

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