Johnson & Johnson $JNJ Shares Bought by Arizona State Retirement System

Key Points

• Arizona State Retirement System increased its Johnson & Johnson stake by 1.2% in the second quarter, adding 8,213 shares to hold 668,344 shares valued at approximately $169.7 million. Institutional investors collectively own 69.55% of J&J.
• Analyst sentiment remains favorable: J&J has a “Moderate Buy” consensus rating and an average price target of $274.13, with recent Buy or Outperform ratings and targets as high as $320.
• J&J beat quarterly earnings and revenue estimates, reporting $2.90 in EPS and $25.31 billion in revenue, while maintaining a quarterly dividend of $1.34 per share. However, insiders have sold 87,569 shares worth approximately $23.1 million over the past 90 days.

Arizona State Retirement System lifted its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 1.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 668,344 shares of the company's stock after purchasing an additional 8,213 shares during the period. Johnson & Johnson comprises 0.8% of Arizona State Retirement System's portfolio, making the stock its 17th largest position. Arizona State Retirement System's holdings in Johnson & Johnson were worth $169,739,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in JNJ. Geode Capital Management LLC boosted its stake in shares of Johnson & Johnson by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 57,953,747 shares of the company's stock valued at $11,967,947,000 after buying an additional 1,738,292 shares during the last quarter. Norges Bank bought a new stake in shares of Johnson & Johnson in the fourth quarter worth $6,924,523,000. Wellington Management Group LLP increased its holdings in Johnson & Johnson by 12.5% in the second quarter. Wellington Management Group LLP now owns 22,588,696 shares of the company's stock valued at $5,736,851,000 after buying an additional 2,513,321 shares during the last quarter. Deutsche Bank AG raised its stake in Johnson & Johnson by 8.5% during the second quarter. Deutsche Bank AG now owns 15,661,323 shares of the company's stock valued at $3,977,506,000 after buying an additional 1,225,676 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Johnson & Johnson by 8.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,275,937 shares of the company's stock valued at $3,575,255,000 after buying an additional 1,376,828 shares in the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the company. UBS Group initiated coverage on Johnson & Johnson in a research note on Wednesday, September 2nd. They issued a "buy" rating and a $320.00 target price for the company. Scotiabank reaffirmed an "outperform" rating and issued a $305.00 price objective on shares of Johnson & Johnson in a research note on Thursday, July 16th. Royal Bank Of Canada increased their price target on Johnson & Johnson from $265.00 to $287.00 and gave the company an "outperform" rating in a research report on Monday, July 13th. TD Cowen lifted their price target on Johnson & Johnson from $250.00 to $300.00 and gave the company a "buy" rating in a report on Monday, July 13th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $282.00 price target on shares of Johnson & Johnson in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $274.13.

Insider Activity

In related news, EVP Vanessa Broadhurst sold 23,054 shares of the stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $251.27, for a total value of $5,792,778.58. Following the sale, the executive vice president directly owned 23,003 shares in the company, valued at $5,779,963.81. This trade represents a 50.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Elizabeth Forminard sold 15,918 shares of Johnson & Johnson stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $257.00, for a total value of $4,090,926.00. Following the completion of the sale, the executive vice president directly owned 16,994 shares in the company, valued at $4,367,458. This represents a 48.37% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 87,569 shares of company stock valued at $23,064,544. Insiders own 0.16% of the company's stock.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $266.94 on Wednesday. Johnson & Johnson has a 52-week low of $173.33 and a 52-week high of $281.07. The firm has a market capitalization of $643.29 billion, a price-to-earnings ratio of 30.93, a P/E/G ratio of 2.54 and a beta of 0.24. The company's fifty day moving average is $263.17 and its two-hundred day moving average is $246.23. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.09 and a quick ratio of 0.81.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings results on Wednesday, July 15th. The company reported $2.90 EPS for the quarter, beating the consensus estimate of $2.84 by $0.06. Johnson & Johnson had a return on equity of 32.42% and a net margin of 21.48%.The firm had revenue of $25.31 billion during the quarter, compared to analysts' expectations of $25.06 billion. During the same quarter in the prior year, the firm posted $2.77 EPS. The company's revenue for the quarter was up 6.6% on a year-over-year basis. Johnson & Johnson has set its FY 2026 guidance at 11.600-11.750 EPS. Equities research analysts forecast that Johnson & Johnson will post 11.61 EPS for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Tuesday, August 25th were paid a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Tuesday, August 25th. Johnson & Johnson's payout ratio is 62.11%.

Trending Headlines about Johnson & Johnson

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

• Positive Sentiment: Potential $20 billion DePuy Synthes sale could unlock value. Apollo Global Management is reportedly in talks to acquire J&J’s DePuy Synthes orthopedics business, which generated approximately $9.3 billion in 2025 revenue. A sale or spinoff could sharpen J&J’s focus and return capital to shareholders. Apollo and J&J Face a High-Stakes Orthopedics Deal
• Positive Sentiment: Rybrevant delivers strong lung-cancer results. J&J reported that Rybrevant plus chemotherapy produced a 34.3-month median overall survival in EGFR exon 20 insertion-positive non-small-cell lung cancer, described as the longest reported result for this population. Separate data also showed fewer treatment-related events with the Rybrevant Faspro and Lazcluze combination, supporting the oncology pipeline and potential commercial momentum. Johnson & Johnson Says Lung Cancer Drug Shows Reduced Side Effects and Longer Patient Survival
• Positive Sentiment: Analyst and defensive-investment support remain favorable. TD Cowen maintained a Buy rating with a $300 price target, citing oncology momentum and the possible DePuy Synthes transaction. J&J is also being highlighted as a reliable dividend and defensive healthcare holding, which may attract investors during market volatility. J&J: Oncology Momentum and Potential $20B DePuy Synthes Divestiture Support Buy Rating
• Neutral Sentiment: Investors are monitoring strategic and fundamental developments. Attention is focused on J&J’s ability to achieve double-digit growth while Stelara faces biosimilar competition. Recent institutional activity has been mixed, while reported insider transactions consisted entirely of sales over the past six months.
• Negative Sentiment: Clinical setback hits a partnered depression treatment. JNJ-5120, also known as PIPE-307, failed to meet the primary endpoint in the Phase 2 MOONLIGHT-1 trial for major depressive disorder. J&J is reviewing additional data, but the failure reduces confidence in this portion of its drug-development pipeline. Contineum, J&J's Depression Drug Fails to Meet Mid-Stage Trial Goal

Johnson & Johnson Company Profile

Johnson & Johnson NYSE: JNJ is a global healthcare company that develops, manufactures and markets pharmaceutical and medical device products. Founded in 1886 and headquartered in New Brunswick, New Jersey, the company serves patients, healthcare professionals and institutions in markets around the world.

Johnson & Johnson operates through two primary business segments: Innovative Medicine and MedTech. Innovative Medicine focuses on prescription treatments in areas including immunology, oncology, neuroscience, cardiovascular and metabolic disease, infectious diseases, and pulmonary hypertension.

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