Scoreboard Buys of the Week
I finally was able to build up to my target 2% cash position through dividend collection and the continued market sell-off. As always, when my rules trigger, I step into action.
I hit my target cash position in both my Roth IRA and Taxable Brokerage on Friday. Below are my buys (market orders for Monday, 9/26):
$ABBV - For those of you that have followed me, Abbvie was my July Idea Competition submission and has been at the top of my list for some time. I have been buying with every opportunity over the last few months. This is my 3rd buy of Abbvie since June.
Abbvie still sits at the top of my Scorecard at a 5.5/6. $ABBV has outperformed the market since I initially bought it, has a dividend payout less than 50% of its FCF, pays a dividend, is underweight versus my target position, has a P/E under 25 and is a company I strongly believe in.
This buy will move $ABBV up to 3.7% of my portfolio and into my Top 10 holdings. Additionally, it will add $5.64 in annual dividend income.
$KMB - Kimberly-Clark was one of my 2022 Birthday Buys and has remained at the top of my Scorecard (how's that for confirmation on a stock pick???).
I had a few positions tied at 4.5/6 - $KMB, $HSY and $LOW. I followed my tiebreaker rule of position weight and went with $KMB since it is the most underweight holding of the 3 versus its target. Kimberly-Clark has outperformed the market since my initial purchase, has FCF to cover its dividend, pays a dividend, is underweight versus my target position size, has a P/E less than 25 and is a company that I have moderate conviction in.
This buy will move $KMB up to 6.3% of my Roth IRA and into my #6 largest holding in that portfolio. Additionally, it will add $4.64 in annual dividend income.
Looking forward, the last few months of the year are typically large dividend months for me. Additionally, we have completed some of the savings goals we have been working towards, so my plan is to start directing more money to my investing accounts. Hopefully my next buys come quickly!