Miles Capital Lowers stake in Johnson & Johnson (JNJ)

Johnson & Johnson (JNJ) : Miles Capital reduced its stake in Johnson & Johnson by 1.19% during the most recent quarter end. The investment management company now holds a total of 8,991 shares of Johnson & Johnson which is valued at $1,107,871 after selling 108 shares in Johnson & Johnson , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Johnson & Johnson makes up approximately 0.73% of Miles Capital’s portfolio.

Other Hedge Funds, Including , Hamilton Point Investment Advisors boosted its stake in JNJ in the latest quarter, The investment management firm added 127 additional shares and now holds a total of 32,244 shares of Johnson & Johnson which is valued at $3,973,106. Johnson & Johnson makes up approx 2.52% of Hamilton Point Investment Advisors’s portfolio.Meridian Investment Counsel reduced its stake in JNJ by selling 1,686 shares or 5.98% in the most recent quarter. The Hedge Fund company now holds 26,491 shares of JNJ which is valued at $3,264,221. Johnson & Johnson makes up approx 2.15% of Meridian Investment Counsel’s portfolio.Wharton Business Group reduced its stake in JNJ by selling 402 shares or 4.14% in the most recent quarter. The Hedge Fund company now holds 9,297 shares of JNJ which is valued at $1,150,690. Johnson & Johnson makes up approx 0.13% of Wharton Business Group’s portfolio.Round Table Services reduced its stake in JNJ by selling 43 shares or 0.98% in the most recent quarter. The Hedge Fund company now holds 4,331 shares of JNJ which is valued at $540,379. Johnson & Johnson makes up approx 0.30% of Round Table Services’s portfolio. Americafirst Capital Management added JNJ to its portfolio by purchasing 836 company shares during the most recent quarter which is valued at $104,617. Johnson & Johnson makes up approx 0.07% of Americafirst Capital Management’s portfolio.

Johnson & Johnson opened for trading at $119.67 and hit $119.96 on the upside on Tuesday, eventually ending the session at $119.44, with a gain of 0.26% or 0.31 points. The heightened volatility saw the trading volume jump to 56,03,177 shares. Company has a market cap of $326,773 M.

On the company’s financial health, Johnson & Johnson reported $1.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jul 19, 2016. Analyst had a consensus of $1.68. The company had revenue of $18482.00 million for the quarter, compared to analysts expectations of $17985.80 million. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.71 EPS.

Many Wall Street Analysts have commented on Johnson & Johnson. Company shares were Reiterated by UBS on Jul 20, 2016 to “Buy”, Firm has raised the Price Target to $ 137 from a previous price target of $126 .Company shares were Reiterated by RBC Capital Mkts on Jul 20, 2016 to “Outperform”, Firm has raised the Price Target to $ 133 from a previous price target of $125 .Standpoint Research Initiated Johnson & Johnson on May 20, 2016 to “Sell”, Price Target of the shares are set at $94.

Johnson & Johnson is a holding company. The Company is engaged in the research and development manufacture and sale of a range of products in the health care field. The Company has more than 265 operating companies conducting business around the world. The Company’s primary focus is products related to human health and well-being. The Company is organized into three business segments: Consumer Pharmaceutical and Medical Devices. The Company’s subsidiaries operate 134 manufacturing facilities occupying approximately 21.5 million square feet of floor space. The Company’s research facilities are located in the United States Belgium Brazil Canada China France Germany India Israel Japan the Netherlands Singapore Switzerland and the United Kingdom.

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