Miracle Mile Advisors LLC Purchases 6,383 Shares of Johnson & Johnson (NYSE:JNJ)

Miracle Mile Advisors LLC grew its position in Johnson & Johnson (NYSE:JNJ) by 10.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 65,280 shares of the company’s stock after acquiring an additional 6,383 shares during the period. Miracle Mile Advisors LLC’s holdings in Johnson & Johnson were worth $10,327,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Keener Financial Planning LLC acquired a new position in Johnson & Johnson in the fourth quarter worth $40,000. WFA Asset Management Corp raised its holdings in shares of Johnson & Johnson by 61.4% in the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after buying an additional 97 shares during the last quarter. Vermillion & White Wealth Management Group LLC bought a new stake in Johnson & Johnson during the 4th quarter worth about $44,000. Disciplined Equity Management Inc. acquired a new stake in Johnson & Johnson in the 4th quarter valued at about $45,000. Finally, Grayhawk Investment Strategies Inc. raised its stake in shares of Johnson & Johnson by 528.6% in the fourth quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after acquiring an additional 259 shares during the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Johnson & Johnson Price Performance

Shares of JNJ stock opened at $146.03 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $175.97. The firm has a fifty day moving average of $148.09 and a 200-day moving average of $153.97. The firm has a market capitalization of $351.45 billion, a price-to-earnings ratio of 9.10, a price-to-earnings-growth ratio of 2.43 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.07. The firm had revenue of $21.38 billion during the quarter, compared to analysts’ expectations of $21.39 billion. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The company’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.68 earnings per share. On average, equities research analysts forecast that Johnson & Johnson will post 10.62 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were paid a $1.24 dividend. The ex-dividend date of this dividend was Monday, May 20th. This represents a $4.96 dividend on an annualized basis and a yield of 3.40%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s payout ratio is presently 30.92%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Morgan Stanley decreased their price target on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a research note on Monday, June 17th. The Goldman Sachs Group initiated coverage on Johnson & Johnson in a research note on Thursday, May 30th. They set a “neutral” rating and a $160.00 price target on the stock. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Monday. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $174.07.

Johnson & Johnson Company Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.