After a rocky May it appears June will finish on strong footing. 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 June stock considerations:
I have added to my ROTH account 17 shares at $67.30 for a total investment of $1,144.10 in AbbVie Inc. (ABBV). With this recent purchase my ROTH account holdings in ABBV now totals 61 shares with a market value of $4,270.00. I also hold 203 shares with a market value of $14,210.00 in my taxable account making ABBV one of my largest holdings overall. I continued to like ABBV at any price under $80 and after it’s dramatic tumble this week with the Allergan plc (AGN) acquisition it was time to pounce, even though ABBV is already a large portion of my portfolio. Sometimes these huge bio-techs need to shake things up to simply move their needle. Now with a large AGN pipeline in the mix ABBV can be well positioned for years to come.
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