Insider Trading January 28, 2026

Johnson & Johnson CEO Disposes $22.1 Million in Company Shares

Form 4 shows Joaquin Duato executed multiple trades on January 26, 2026; analysts maintain generally favorable outlook after Q4 results

By Derek Hwang JNJ
Johnson & Johnson CEO Disposes $22.1 Million in Company Shares
JNJ

Joaquin Duato, Johnson & Johnson's chief executive officer and chairman, sold $22.1 million of company stock on January 26, 2026, in a series of transactions disclosed on a Form 4 filing. The filing details two sets of trades and outlines Duato's remaining direct and indirect holdings. The disclosure coincides with recently reported fourth-quarter results and a string of analyst updates that leave a broadly positive tone among market commentators.

Key Points

  • Joaquin Duato sold $22.1 million of Johnson & Johnson shares on January 26, 2026, in two sets of trades disclosed via Form 4.
  • Following the sales, Duato's reported holdings include 275,967 shares directly, 79,634 shares indirectly, 30,852 shares indirectly by spouse, and 988 shares indirectly via a 401(k).
  • Johnson & Johnson reported Q4 revenue of $24.6 billion and EPS of $2.46 (generally in line with the $2.47 consensus); multiple analysts adjusted ratings and price targets afterward, indicating continued positive analyst sentiment.

Transaction overview

Joaquin Duato, who serves as both CEO and Chairman of Johnson & Johnson (NYSE: JNJ), reported the sale of company shares totaling $22.1 million on January 26, 2026, according to a Form 4 filing submitted to the Securities and Exchange Commission.

The filing breaks the activity into two groups of sales. In the first set, Duato sold 51,218 shares of Johnson & Johnson common stock at a weighted average price of $220.986. Those trades occurred across multiple executions at prices ranging from $220.39 to $221.376. In the second set, he sold 48,782 shares at a weighted average price of $221.484, executed in multiple trades at prices ranging from $221.38 to $221.64.

Holdings after the transactions

The Form 4 indicates Duato's remaining holdings following the dispositions. He indirectly holds 79,634 shares and an additional 30,852 shares indirectly through his spouse. Separately, Duato directly owns 275,967 shares and indirectly possesses 988 shares through a 401(k) account.

Context from company data and performance

Third-party data cited in the filing notes that Johnson & Johnson has increased its dividend for 55 consecutive years and operates with a moderate level of debt. The filing also references availability of an extended Pro Research Report covering JNJ and more than 1,400 other U.S. equities for investors seeking additional detail.

In tandem with the insider disclosure, Johnson & Johnson recently released its fourth-quarter results. The company reported revenue of $24.6 billion, which exceeded consensus estimates. Reported earnings per share were $2.46, generally in line with the consensus figure of $2.47.

Analyst reaction

Following the quarterly release and around the same timeframe as the Form 4 disclosure, several brokerages adjusted their views and price targets for Johnson & Johnson. Morgan Stanley upgraded the stock from Equalweight to Overweight and set a price target of $262.00. Freedom Capital Markets raised its price target to $220.00 while keeping a Hold rating. TD Cowen increased its target to $250.00. RBC Capital reiterated an Outperform rating with a $240.00 price target, and Guggenheim maintained a Buy rating with a $227.00 target.

Readouts and market tone

The combination of the insider sale and the company’s reported quarter comes amid analyst adjustments that, collectively, are characterized in the filing as reflecting continued positive sentiment among analysts about Johnson & Johnson’s financial position and prospects.

What the filing does and does not show

The Form 4 provides a factual record of the trades, the exact share counts and prices for the transactions on January 26, 2026, and updated ownership figures. It does not include any commentary from Duato on the motivation for the sales, nor does it attach additional explanation beyond the statutory reporting of the trades and holdings.


Data presented above reflect the details contained in the Form 4 filing and related company-reported results and analyst notes as cited in the filing.

Risks

  • Analyst price targets and ratings vary across firms, signaling differing views on valuation and near-term outlook for Johnson & Johnson - this affects equity markets and healthcare sector allocations.
  • Earnings per share of $2.46 were generally in line with the $2.47 consensus, a narrow margin that could lead to differing interpretations of earnings momentum among investors and analysts in the pharmaceutical and medical products sectors.
  • The Form 4 filing records the sales and updated ownership but does not disclose the executive’s rationale for the transactions, leaving questions about intent unresolved for shareholders and market participants.

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