From late March till late April today, the stock market has been looking quite strong once again. Of course, these days looking at any short term trading range is meaningless as we have witnessed extreme volatility the last several months. Up a few hundred points one day, down a few hundred the next. Where can we find stability? I’ll tell you… with our dividend growth portfolios. Wild market gyrations are no match for the diversified power of dividend paying stocks. Even with a cut or two the overall trend for passive income is up. This is why I continue to make at least one monthly purchase no matter what the financial markets are doing. It is that consistency that allows one to build up an ever increasing passive income stream over time. With that being said and sticking to my April stock considerations:
I have added to my ROTH account 15 shares at $77.99 for a total investment of $1,169.85 in AbbVie Inc. (ABBV). With this recent purchase my ROTH account holdings in ABBV now totals 35.0663 shares with a market value of $2,720.09. I also hold 151.9875 shares with a market value of $11,789.67 in my taxable account making ABBV one of my largest holdings overall. While I still like company very much long term I may want to look elsewhere for my next buy as my weighting becomes heavier in that stock. ABBV was also my sole purchase in March.
A couple weeks ago ABBV was trading well over $80 and my buy price was anything below that figure. Seeing ABBV in the high $70s once again compelled me to pull the trigger.
What do you think about my recent buy? Are you looking at ABBV or other health stocks? Seems like the entire sector is falling out of favor these days. There are still quite a few high quality high yielding names out there. What are you buying? Please let me know below.
Disclosure: Long ABBV