Portfolio Update: New Subtraction (ABBV and CVX; January 18, 2013)

dome

I continued selling some more shares this past Friday. The market was up again, and I used the uptrend to exit out of two more positions. I sold off 51 shares of AbbVie (ABBV) and 39 shares of Chevron (CVX).

Details

Here are the details of the two transactions:

51 shares of ABBV for $36.87/share
39 shares of CVX for $115.00/share

Total Gains: $6355.30.

I now have $17,198.88 in cash in my brokerage account.

Update

Thanks to the good suggestions from other fellow dividend growth investors, I have a better idea of some additional moves I will need to make next week.

I also visited my loan officer yesterday (Saturday), and walked out quite confident that I will be able to secure a loan for the new rental property. There were some new details that emerged in our discussion, ones that will force me to alter my approach to coming up with the $70,000 downpayment. I will update the details soon, in a future post. So far, so good.

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Dividend Growth Stock InvestingBrick By Brick Investing | MarvinFI FighterJC @ Passive-Income-Pursuit Recent comment authors
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JC @ Passive-Income-Pursuit
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Do you feel that ABBV doesn’t have as good of DG prospects going forward as ABT or just needed to unload something? I’ve been thinking about selling my CVX as well because I think the DG might be lower than I’d like for the next few years. Only time will tell though.

Hopefully you got good news about the loan so you don’t have to sell as much of your DG stocks off for the downpayment.

Brick By Brick Investing | Marvin
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I feel that ABBV wasn’t as strong of a company as ABT. Going forward I plan to only invest in ABT.

Its great following your process buying this second rental property. I can’t wait to see you upload some pics!

Dividend Growth Stock Investing
Guest

I’m enjoying reading your process of selling some of your stocks to get a rental property. I think this is great for diversification purposes and something I would like to do in the future. However, I know I will have quite a battle with myself to allow myself to sell stocks to raise the cash to put down on a property. But you are simply moving money from one investment to another, not selling investments to buy a boat or some other wasteful purpose. Good job and stick with it even if the plans change!

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