After months of saving, it always feels great to pull the trigger and buy some new stock. The last time I made stock purchases was back in January. The market has been quite high this past quarter but there are still plenty of opportunities out there. I divided my cash stockpile (totaling $4,000) to make two purchases. I used to make one giant purchase with my entire stockpile, but since I am earning more in dividend income now, I have been dividing my stockpile up to make more then one purchase. Over the last 2 weeks, I made two buys: Wells Fargo (WFC) and AbbVie (ABBV).
My first buy was 62 shares of Wells Fargo (WFC) at $47.98 per share. With that, WFC becomes the 23rd stock in my portfolio! This purchase added $111.60 to my forward annual dividend income. My second buy was adding on to a position I already have. Last week, I bought an additional 12 shares of AbbVie (ABBV) at $80.65 per share. This purchase added $51.36 to my forward yearly dividend income.
I had briefly considered CVS or WBA with my remaining cash stockpile (about $1000) after I made the WFC purchase. While those two companies are still high on my watchlist, I ended up going to with ABBV. I prefer to make larger purchases of $2K and upwards. With the WFC buy costing about $3K I decided I would rather use the remaining $1K to invest in a stock I already own. Overall, I am quite happy with my purchases.
In total, both these stock purchases combined added $162.96 to my yearly forward dividend income! My portfolio is now expected to generate $9,729 in forward dividends over the next 12 months. That means I am within $300 of crossing the $10K mark in forward annual dividends. This is feeling kind of like I am approaching the home stretch. This is getting really exciting, especially after I crossed the $1K per month mark last month. So, what do you think of my purchases? Make any recent buys? Let me know below!