In mid-November 2017, I wrote an article titled, “Johnson & Johnson: Does This Dividend Giant Still Offer Value?” This piece discussed why I viewed Johnson & Johnson (JNJ) as overvalued at the time due to the fact the price appreciation was far outpacing the earnings growth. At the time of the previous article, JNJ was priced at $140.
As part of this week’s roller coaster ride the market has put investors through, JNJ dipped 10% at one point, erasing all gains since late September. I wasn’t able to get in during the complete fallout, which saw the price drop to $128, but I did initiate a position shortly after at a price of $129.
