'Price Target' Doggett Invests in Big Pharma and AI Stocks

Representative Lloyd Doggett (D-TX) disclosed in his April 6 filing that he made small, diversified purchases of large-cap stocks—including Johnson & Johnson (J&J) and IBM—in March. While each transaction ranged only from $1,001 to $15,000, Doggett’s longstanding leadership on drug-price reform and technology regulation raises potential conflicts of interest.

On March 10, Doggett acquired shares of healthcare giant Johnson & Johnson (ticker: JNJ) and technology stalwart IBM (IBM). J&J beat market expectations for fourth-quarter 2025 revenue and earnings, driven by strong oncology and immunology drug sales, and has projected mid-to-high single-digit growth in 2026, maintaining solid momentum. However, ongoing talc litigation and regulatory pressure over high drug prices have kept the stock essentially flat, slipping slightly from $243.71 on March 10 to $241.30 on April 8.

IBM reported an 8% year-over-year revenue increase in its 2025 fourth quarter, with earnings per share also topping forecasts, and recently closed its roughly $11 billion acquisition of Confluent to bolster its AI data infrastructure. Yet, worries over intensifying AI competition triggered a double-digit sell-off in February, and the stock has since retraced to about $241.74 from $250.20 on March 10—a roughly 3% drop.

As the top Democrat on the House Ways and Means health subcommittee, Doggett is widely regarded as a “drug-price slayer,” having led legislation to expand Medicare coverage and lower prescription-drug costs. His investment in J&J—whose high-priced specialty medicines and legal liabilities have drawn his sharp criticism—could accentuate conflict-of-interest concerns. Although his IBM purchase might be viewed as a long-term bet on digital infrastructure and AI growth, Doggett’s dual role in shaping tax and healthcare policy affecting major tech and pharmaceutical firms may fuel broader calls in Congress to restrict individual stock trading by members.