10,024 Johnson & Johnson $JNJ Shares Purchased by Covenant Asset Management LLC

Key Points

• Covenant Asset Management increased its Johnson & Johnson position by 78.9% in the third quarter, purchasing 10,024 shares and bringing its total to 22,724 shares valued at approximately $6.0 million.
• Johnson & Johnson exceeded third-quarter expectations with adjusted EPS of $2.59 and revenue of $25.40 billion, up 5.9% year over year. The company set fiscal 2026 EPS guidance at $11.05–$11.15.
• The company declared a quarterly dividend of $1.34 per share, equivalent to an annualized $5.36 payout and a 2.1% yield, while analysts maintained a broadly positive “Moderate Buy” consensus with an average price target of $274.35.

Covenant Asset Management LLC boosted its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 78.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,724 shares of the company's stock after buying an additional 10,024 shares during the quarter. Johnson & Johnson accounts for approximately 0.8% of Covenant Asset Management LLC's holdings, making the stock its 28th biggest holding. Covenant Asset Management LLC's holdings in Johnson & Johnson were worth $6,016,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. National Pension Service increased its stake in Johnson & Johnson by 1.3% during the second quarter. National Pension Service now owns 5,226,968 shares of the company's stock valued at $1,327,493,000 after purchasing an additional 67,484 shares during the last quarter. IFP Advisors Inc lifted its position in shares of Johnson & Johnson by 8.8% in the 2nd quarter. IFP Advisors Inc now owns 38,760 shares of the company's stock worth $9,844,000 after buying an additional 3,133 shares during the last quarter. Elefante Mark B boosted its holdings in shares of Johnson & Johnson by 9.8% in the 2nd quarter. Elefante Mark B now owns 28,686 shares of the company's stock valued at $7,285,000 after buying an additional 2,563 shares during the period. Signal Advisors Wealth LLC boosted its holdings in shares of Johnson & Johnson by 76.1% in the 1st quarter. Signal Advisors Wealth LLC now owns 15,126 shares of the company's stock valued at $3,697,000 after buying an additional 6,539 shares during the period. Finally, Gradient Investments LLC grew its position in shares of Johnson & Johnson by 9.9% during the 2nd quarter. Gradient Investments LLC now owns 152,831 shares of the company's stock valued at $38,815,000 after buying an additional 13,737 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company's stock.

Johnson & Johnson Stock Performance

JNJ stock opened at $253.68 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.81 and a current ratio of 1.09. The stock has a market capitalization of $611.35 billion, a price-to-earnings ratio of 38.44, a PEG ratio of 2.59 and a beta of 0.21. Johnson & Johnson has a 1 year low of $184.66 and a 1 year high of $281.07. The stock's fifty day moving average is $265.73 and its two-hundred day moving average is $249.57.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings results on Tuesday, October 13th. The company reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.06. The company had revenue of $25.40 billion during the quarter, compared to the consensus estimate of $25.38 billion. Johnson & Johnson had a net margin of 16.20% and a return on equity of 31.54%. The company's revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.80 earnings per share. Johnson & Johnson has set its FY 2026 guidance at 11.050-11.150 EPS. On average, research analysts predict that Johnson & Johnson will post 11.10 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 8th. Investors of record on Tuesday, November 24th will be given a $1.34 dividend. The ex-dividend date is Tuesday, November 24th. This represents a $5.36 annualized dividend and a yield of 2.1%. Johnson & Johnson's dividend payout ratio (DPR) is currently 81.21%.

More Johnson & Johnson News

Here are the key news stories impacting Johnson & Johnson this week:

• Positive Sentiment: Johnson & Johnson reported third-quarter adjusted earnings of $2.59 per share and revenue of $25.40 billion, exceeding consensus estimates. Revenue increased 5.9% year over year, led by 7.9% growth in Innovative Medicine. J&J Q3 2026 Earnings Call Transcript
• Positive Sentiment: Management raised its 2026 sales and earnings outlook, with guidance of approximately $11.05–$11.15 in adjusted EPS. Executives also highlighted pipeline products and MedTech innovation as potential sources of future growth. JNJ Q3 Earnings Call Highlights
• Positive Sentiment: Morgan Stanley maintained an “overweight” rating, while RBC retained an “outperform” rating, indicating that analysts still see potential upside despite trimming their price targets. Technical analysts also identified support near $246. Morgan Stanley JNJ Price Target
• Neutral Sentiment: Johnson & Johnson plans an enterprise review on December 8 and is targeting a potential mid-2027 spinoff of its DePuy Synthes orthopedics business. These initiatives could clarify the company’s growth strategy but may also create execution and earnings-dilution concerns. J&J MedTech Orthopedics Spinoff
• Negative Sentiment: MedTech sales missed Wall Street expectations, with weakness attributed partly to China pricing pressure and European budget cuts. Investors viewed the device business as a key reason the stock fell sharply following earnings. Johnson & Johnson Stock Falls as MedTech Misses
• Negative Sentiment: Analysts lowered several price targets after the results, citing mixed pharmaceutical trends, acquisition costs, talc-related charges and potential 2027 dilution. The concerns are more significant because JNJ trades at a premium earnings multiple versus the broader market. Analysts Cut JNJ Forecasts

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on JNJ shares. Wells Fargo & Company dropped their price objective on shares of Johnson & Johnson from $282.00 to $275.00 and set an "overweight" rating on the stock in a research note on Wednesday. Citigroup lifted their target price on Johnson & Johnson from $298.00 to $303.00 and gave the company a "buy" rating in a research note on Monday, October 5th. Weiss Ratings upgraded Johnson & Johnson from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, October 8th. Freedom Capital raised Johnson & Johnson from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 16th. Finally, UBS Group set a $270.00 price target on Johnson & Johnson in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $274.35.

Insider Activity

In other Johnson & Johnson news, EVP Elizabeth Forminard sold 15,918 shares of the business's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $257.00, for a total transaction of $4,090,926.00. Following the completion of the transaction, the executive vice president directly owned 16,994 shares of the company's stock, valued at $4,367,458. The trade was a 48.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Timothy Schmid sold 33,597 shares of the business's stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $274.74, for a total transaction of $9,230,439.78. Following the transaction, the executive vice president directly owned 25,447 shares of the company's stock, valued at $6,991,308.78. The trade was a 56.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 87,569 shares of company stock valued at $23,064,544. 0.16% of the stock is owned by company insiders.

Johnson & Johnson Company Profile

Johnson & Johnson NYSE: JNJ is a global healthcare company that develops, manufactures and markets products through two primary business segments: Innovative Medicine and MedTech. Its operations serve patients, healthcare professionals and consumers in markets around the world.

The Innovative Medicine segment focuses on prescription medicines in areas including immunology, oncology, neuroscience, cardiovascular and metabolic disease, infectious diseases, and pulmonary hypertension.

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