Monday, October 10, 2016

Recent Buy --- BMY


Today I decided to initiate a position in BMY.




  • BMY:  35 shares @ $49.96 --- Yield  3.04%

Total capital invested is $1755.48 and this purchase will increase my yearly dividends by $53.20.

While the markets keep marching up towards the sky, BMY is actually down about 35% from $77 in June to the high 40s during the last 3 months. I told myself if the price hit $50 I would jump into a small position.

This company may require some patience as it has fallen hard through all kinds of resistance levels. I am planning on being a long term investor and will gladly add more if the price falls further. I actually feel really good about several of my recent investments. It's not often that your portfolio value surges up while companies you are underweight in drop in value. That is an awesome combination!!

I was close to adding T or NEA (muni bond fund) also. I will continue to watch these two along with other utilities/telcos as well as tobacco stocks like PM and MO.

Forward dividends are $4300.00

DEFY MEDIOCRITY

22 comments:

  1. Replies
    1. Tristan,

      Thanks! Hopefully it turns out to be a good one. :)

      MDP

      Delete
  2. I looked up NEA for myself. High expenses. I thought about exchanging my PZA for NEA but decided against it.

    ReplyDelete
    Replies
    1. JLH,

      They are pretty high for a bond fund. With that said it has been a great performing fund and with a 5% tax free distribution combined with my 30% tax bracket a decent returning one. I will check out PZA as I am always interested in new investment ideas!

      MDP

      Delete
  3. So did I. Got 33 at 49.84. Don't have extra money right now to average down though. I will have to wait and average down in 5 months or so (if it's lower by then).

    ReplyDelete
    Replies
    1. Janet,

      Awesome job! I hope you have your chance to buy more shares in the future! I plan on doing the same thing.

      MDP

      Delete
  4. MDP -

    Congrats on the purchase, AT&T has been very enticing as you mentioned. If it breaks below $the 37.50/37 price point, should be interesting. Would love the market to start getting the stomach punched a bit! Great job adding more income.

    -Lanny

    ReplyDelete
    Replies
    1. Lanny,

      I'm having a hard time being patient with T. I really want to jump in, but I keep thinking it may drop down to the 32-33 range after another rate hike or two. I'll probably make a move in the mid 30s.

      MDP

      Delete
  5. Love the BMY pick. Great entry point and BMY is at the cutting edge for biotech. Would definitely love to own them again.

    Scott

    ReplyDelete
    Replies
    1. Scott,

      Thanks! Strange times, PFE, GILD, and BMY are getting killed while JNJ and MRK are soaring. It's definitely a strange decoupling. I would like to own all of these companies at some point.

      MDP

      Delete
  6. Keep it up MDP. Great purchase. Can't go wrong buying assets that pulled back. BMY will serve you will. Cheers.

    ReplyDelete
    Replies
    1. Hustler,

      Thanks, brother! I hope this makes a good addition. Starting slow and adding if the entry points get better.

      MDP

      Delete
  7. Great pick MDP. Love your Blog! I entered BMY myself this morning. Like you, will dollar cost average down, if it continues to fall.

    Cheers!

    ReplyDelete
    Replies
    1. Anonymous,

      Thanks so much! We are on the same page it appears. Keep up the great work!

      MDP

      Delete
  8. Hi MDP,

    I notice you take photos of the screen, rather than an actual computer-generated screenshot which would be much clearer for your users. Windows 7 comes with free software that does this. Check out:

    https://support.microsoft.com/en-us/help/13776/windows-use-snipping-tool-to-capture-screenshots

    If you're on an older version of Windows, there are dozens of free, third-party tools that you can download that do the exact same thing.

    Cheers.

    ReplyDelete
    Replies
    1. Anonymous,

      I'll will look at it! I suck at computer shit so I most likely will stick with the camera or perhaps just type the buys in.

      MDP

      Delete
  9. I was watching BMY yesterday after the latest cancer drug announcement. It took a good nosedive. Great time to buy. I may be right behind you.

    ReplyDelete
    Replies
    1. IH,

      I'll be watching for you. I think we are finally starting to see some sectors loosening up. Hopefully more will follow.

      MDP

      Delete
  10. Good job lately of buying. Sounds like you're checking quite a few off of your list.

    ReplyDelete
    Replies
    1. BGH,

      THanks so much! I finally feel like I am back in the game after sitting on the sidelines most of the year. I can't wait until I get to your level!

      MDP

      Delete
  11. Replies
    1. HHWG,

      Thanks a lot! We will see how it goes. There is still a lot of uncertainty with BMY and MRK is killing it right now. Hopefully the price stays down for a while longer so I can continue to add more shares.

      MDP

      Delete