Mill Capital Management LLC Has $19.48 Million Stock Position in Johnson & Johnson (NYSE:JNJ)

Mill Capital Management LLC cut its stake in Johnson & Johnson (NYSE:JNJ) by 0.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 117,456 shares of the company’s stock after selling 729 shares during the quarter. Johnson & Johnson accounts for about 1.6% of Mill Capital Management LLC’s portfolio, making the stock its 21st biggest position. Mill Capital Management LLC’s holdings in Johnson & Johnson were worth $19,479,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Johnson & Johnson by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 232,792,559 shares of the company’s stock worth $33,666,460,000 after purchasing an additional 1,772,706 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Johnson & Johnson by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 57,667,920 shares of the company’s stock worth $8,321,881,000 after purchasing an additional 1,561,036 shares during the last quarter. Northern Trust Corp raised its stake in shares of Johnson & Johnson by 12.3% in the fourth quarter. Northern Trust Corp now owns 30,813,175 shares of the company’s stock worth $4,456,201,000 after purchasing an additional 3,363,235 shares during the last quarter. Norges Bank purchased a new stake in shares of Johnson & Johnson in the fourth quarter worth approximately $4,390,037,000. Finally, Wellington Management Group LLP raised its stake in shares of Johnson & Johnson by 1.8% in the fourth quarter. Wellington Management Group LLP now owns 24,356,572 shares of the company’s stock worth $3,522,447,000 after purchasing an additional 431,205 shares during the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Leerink Partnrs downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $181.00 price target on shares of Johnson & Johnson in a research report on Thursday, June 5th. Barclays decreased their price target on Johnson & Johnson from $166.00 to $165.00 and set an “equal weight” rating for the company in a research report on Thursday, April 17th. Wall Street Zen raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 21st. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Johnson & Johnson in a research report on Wednesday, April 2nd. Eleven analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and an average target price of $170.88.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $152.25 on Friday. Johnson & Johnson has a one year low of $140.68 and a one year high of $169.99. The business has a fifty day moving average price of $153.85 and a 200-day moving average price of $153.69. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.03. The firm has a market capitalization of $366.33 billion, a P/E ratio of 16.94, a PEG ratio of 2.31 and a beta of 0.42.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.18. Johnson & Johnson had a return on equity of 33.46% and a net margin of 24.42%. The firm had revenue of $21.89 billion during the quarter, compared to analyst estimates of $21.65 billion. As a group, equities research analysts forecast that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th were issued a $1.30 dividend. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.24. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend was Tuesday, May 27th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 57.84%.

Johnson & Johnson 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.