8 shares GE, 3.40% yield, $7.04
I added shares to two existing positions today. Even though the yield is kind of low, I'm a big fan of Abbott Laboratories. It has a very reasonable 15.5 forward p/e, excellent growth prospects, plenty of room for future dividend raises, and will help shore up allocations in the healthcare sector. Abbott has been paying & increasing dividend payments for many decades (40+ years excluding the Abbvie spinoff last year). At this point dividend increases are ingrained in Abbott's culture, and that's the sort of mentality which will serve patient investors well in the years ahead. It's a company in the same vein as say PG, JNJ, PEP, EMR, and other high quality businesses where yearly dividend growth is almost automatic. That's how I see it anyways...
General Electric Company was the other buy for reasons I wrote about last week.
Well I still have four planned purchases left for April. One of those buys will be in my ROTH where I don't have access to free trades. I must buy larger quantities in that account to make up for the fees/commissions. Have to hope stock prices continue to slide.
I have many free trades available and did not pay commissions today. I plan to continue small weekly purchases until my supply of free trades run out (July).
Core Position: No*
Speculative Position: No
Expectations: Steady income; 7% (average) annual dividend growth
Automatic Sell: Dividend cut
Consider Selling: Frozen dividend, business fundamentally changes, management becomes untrustworthy, fundamentals deteriorate, wildly over valued stock price, or position fails to meet expectations
*ABT will be designated as a core holding if/when I expand the list. Core stocks are select holdings that I deem to be the highest quality (it's subjective). They will be sold last in the event of a forced portfolio liquidation.