Beese Fulmer Investment Management Inc. Has $21.34 Million Position in Johnson & Johnson (NYSE:JNJ)

Beese Fulmer Investment Management Inc. lifted its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 2.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,693 shares of the company's stock after buying an additional 2,740 shares during the period. Johnson & Johnson comprises about 1.8% of Beese Fulmer Investment Management Inc.'s investment portfolio, making the stock its 13th largest holding. Beese Fulmer Investment Management Inc.'s holdings in Johnson & Johnson were worth $21,343,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in Johnson & Johnson during the fourth quarter worth about $4,390,037,000. Raymond James Financial Inc. bought a new stake in Johnson & Johnson during the fourth quarter worth about $1,339,878,000. GAMMA Investing LLC raised its holdings in Johnson & Johnson by 24,450.4% during the first quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company's stock worth $1,196,596,000 after acquiring an additional 7,185,977 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Johnson & Johnson by 134.5% during the fourth quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company's stock worth $1,149,536,000 after acquiring an additional 4,559,147 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Johnson & Johnson by 12.3% during the fourth quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock worth $4,456,201,000 after acquiring an additional 3,363,235 shares in the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

JNJ has been the topic of several analyst reports. Morgan Stanley upped their target price on Johnson & Johnson from $164.00 to $169.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 16th. The Goldman Sachs Group upgraded Johnson & Johnson from a "neutral" rating to a "buy" rating and upped their target price for the stock from $157.00 to $172.00 in a report on Wednesday, April 9th. Sanford C. Bernstein reiterated a "market perform" rating on shares of Johnson & Johnson in a report on Wednesday, April 16th. Leerink Partners lowered Johnson & Johnson from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $169.00 to $153.00 in a report on Tuesday, May 13th. Finally, Guggenheim restated a "neutral" rating on shares of Johnson & Johnson in a research note on Wednesday, April 2nd. Eleven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $170.88.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ traded up $1.41 during trading hours on Friday, reaching $154.99. 15,529,047 shares of the stock were exchanged, compared to its average volume of 7,948,740. The firm has a market capitalization of $372.92 billion, a price-to-earnings ratio of 23.31, a P/E/G ratio of 2.56 and a beta of 0.42. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99. The stock's fifty day simple moving average is $154.31 and its 200 day simple moving average is $153.65.

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

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.36%. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.24. Johnson & Johnson's dividend payout ratio (DPR) is 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.