In the third quarter, Banyan Capital Management Inc. initiated a position in Johnson & Johnson by acquiring 3,853 shares valued at approximately $714,000, representing 0.3% of its overall portfolio and ranking J&J as its 22nd largest holding. During the same period, Norges Bank established a new stake worth $4.877 billion, while Laurel Wealth Advisors LLC expanded its position by 15,040.6%, adding 7,371,687 shares valued at $1.1335 billion. Vanguard Group Inc. increased its stake by 1.3%, buying 3,085,180 additional shares for a total holding valued at $36.209 billion. Geode Capital Management LLC grew its position by 2.1% to $9.228 billion, and Legal & General Group Plc boosted its J&J holdings by 6.2% to $2.8896 billion. Institutional investors now own 69.55% of Johnson & Johnson’s stock.

Several brokerages have raised their outlook on Johnson & Johnson following positive regulatory and company developments. Daiwa Capital Markets maintained an Outperform rating and raised its target to 237, while Morgan Stanley upgraded J&J on expectations of stronger growth, citing recent annual highs. Scotiabank reiterated an Outperform with a 265 target after solid quarterly results. On the regulatory front, the European CHMP issued a positive opinion for AKEEGA (niraparib plus abiraterone) in BRCA1/2-mutant metastatic hormone-sensitive prostate cancer, supporting a potential new oncology revenue stream. Legal risk also eased when a U.S. judge dismissed a fraud lawsuit related to the company’s talc bankruptcy strategy, though analysts caution that broader talc litigation remains unresolved.

In its latest earnings release, Johnson & Johnson reported revenue of $24.56 billion for the quarter, a 9.1% year-over-year increase, and EPS of $2.46, matching consensus estimates. The company achieved a net margin of 28.46% and a return on equity of 33.34%. Management issued full-year guidance of 11.430 to 11.630 EPS for fiscal 2026. In its capital return program, J&J declared a quarterly dividend of $1.30 per share, payable on March 10 with a record date of February 24, resulting in an annualized payout of $5.20 and a dividend yield of 2.3%. The payout ratio stands at 47.06%.

Beyond Banyan, several other funds adjusted their J&J holdings in the third quarter. Townsquare Capital LLC reduced its position by 17.2%, selling 9,801 shares and ending the period with 47,176 shares valued at $8.747 million (1.3% of its portfolio). Tandem Investment Advisors Inc. trimmed its holdings by 2.7%, selling 7,761 shares to hold 281,900 shares (1.8% of its assets). Atlas Private Wealth Advisors cut its stake by 63.3%, disposing of 8,757 shares for a remaining position valued at $941,000. Meanwhile, Winnow Wealth LLC increased its J&J allocation by 374.4%, adding 7,240 shares for a total of 9,174 shares worth $1.706 million.