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.