Beese Fulmer Investment Management Inc. lessened its position in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 0.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 119,527 shares of the company’s stock after selling 644 shares during the quarter. Johnson & Johnson makes up approximately 2.7% of Beese Fulmer Investment Management Inc.’s investment portfolio, making the stock its 4th largest holding. Beese Fulmer Investment Management Inc.’s holdings in Johnson & Johnson were worth $21,217,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Johnson & Johnson during the 4th quarter worth approximately $4,172,929,000. BlackRock Inc. grew its position in shares of Johnson & Johnson by 2.6% during the 4th quarter. BlackRock Inc. now owns 200,021,352 shares of the company’s stock worth $34,217,654,000 after buying an additional 4,982,885 shares during the period. GQG Partners LLC grew its position in shares of Johnson & Johnson by 1,109.4% during the 4th quarter. GQG Partners LLC now owns 3,954,383 shares of the company’s stock worth $676,375,000 after buying an additional 3,627,424 shares during the period. Vanguard Group Inc. grew its position in shares of Johnson & Johnson by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 238,141,110 shares of the company’s stock worth $42,205,749,000 after buying an additional 3,358,478 shares during the period. Finally, State Street Corp grew its position in shares of Johnson & Johnson by 1.8% during the 4th quarter. State Street Corp now owns 144,677,639 shares of the company’s stock worth $24,750,004,000 after buying an additional 2,492,359 shares during the period. Institutional investors and hedge funds own 68.59% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have recently commented on JNJ shares. Citigroup reduced their price objective on shares of Johnson & Johnson from $205.00 to $201.00 in a research report on Wednesday, July 20th. SVB Leerink cut their target price on Johnson & Johnson from $200.00 to $194.00 in a report on Wednesday, July 20th. UBS Group cut their target price on Johnson & Johnson from $185.00 to $180.00 in a report on Thursday, July 21st. Wells Fargo & Company increased their target price on Johnson & Johnson from $190.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, July 13th. Finally, Morgan Stanley cut their target price on Johnson & Johnson from $174.00 to $173.00 and set an “equal weight” rating on the stock in a report on Monday, September 12th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $189.78.
Johnson & Johnson Price Performance
Johnson & Johnson (NYSE:JNJ – Get Rating) last issued its quarterly earnings data on Tuesday, July 19th. The company reported $2.59 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.02. The business had revenue of $24.02 billion for the quarter, compared to analysts’ expectations of $23.85 billion. Johnson & Johnson had a return on equity of 36.14% and a net margin of 19.21%. The business’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the business earned $2.48 EPS. As a group, analysts forecast that Johnson & Johnson will post 10.7 EPS for the current fiscal year.
Johnson & Johnson Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Tuesday, August 23rd were paid a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date was Monday, August 22nd. Johnson & Johnson’s payout ratio is 65.79%.
Johnson & Johnson announced that its board has approved a share buyback program on Wednesday, September 14th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 1.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Johnson & Johnson Profile
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment offers baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.
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