I have sold roughly $1500 of my holding in ABBV today before the close. I still hold half of my original position. I took some minor losses. I am not pleased with the FDA announcement. I will still keep a small position in ABBV and will look to allocate the remaining funds elsewhere on stocks with similar yields.
-YD
Why would you sell such a great company? Being a long term dividend growth investor is all about not getting shaken out every time there is an "announcement" or bad earnings call. Selling at these times is the worst thing you can do. Imagine selling VFC, CAT, DOV, PG, HCP, KO, PEP, MCD, YUM, JNJ, KFT (before KRFT and KHC) and dozens and dozens of others on bad earnings or other "bad" announcements. It's about holding through all economic climates. At core, ABBV is still the same.
ReplyDeleteHi Keith
DeleteThanks for commenting. You are probably right but my comfort level with ABBV is less than it is with the likes of ABT and JNJ. I prefer to sell on SEC probings, fraud, and will consider with a less degree on FDA problems.
Regards,
YD