Johnson & Johnson (JNJ) reported second quarter results which initially were well received by investors, allowing shares to jump from $125 to $130 in response to the earnings report. After investors digested the news report throughout the week, shares gradually lost of all the gains to end the week at $125 again.

These levels mark quite a big pullback from highs set around $148 per share in January. Note that shares already traded at these levels in the summer of 2016, marking two years of no returns for equity holders, other than the steady dividend of course.

This nearly 3% dividend yield looks pretty appealing as the company is a true aristocrat, is well managed and trades at a modest valuation (especially versus some peers).

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