Saturday, August 15, 2020

Transaction & Portfolio Aug 20

Aug 20 Transactions

I have added all 3 local bank stocks when price went down due to MAS calls on Singapore Banks to cap dividends.

- DBS 500 @ $19.48

- UOB 500 @ $19.05

- OCBC (through SRS) 1,200 @ $8.72, 1,300 @ $8.50

DBS stock price has performed relatively better than UOB and OCBC, but i do think all 3 banks are still worth to invest for long term at current market price. 

I have also added Gilead 100 @ $69 when its price when went down after Q2'20 results released, which lower my avg purchase price to $72.46.

Currently my Gilead stocks are suffering $1.6k unrealised loss, but I would think Gilead able to deliver better results in Q3 & Q4'20. Gilead has strong HIV franchise (grew 6% YoY in H1'20 despite Covid impact) and raised 2020 financial guidance. Non-GAAP diluted EPS of $6.25 - $7.65 which represent forward PE of 11 ($69/ $6.25)

Besides, I have divested Uber 100 @ $34.30, 13.8% realised gain. 

The above transactions have increased share: cash ratio to 48: 52. 

In near future, I will focus more on US stocks (Pharma) and local stocks (banking).

Aug 20 Portfolio
AbbVie stocks dropped from ~$100 to $94 - $95 after Q2'20 result released (first consolidated results after Allergan acquisition). Covid had a substantial impact on AbbVie second quarter reported revenues, especially on Allergan Aesthetics business.

AbbVie has raised 2020 financial guidance with non-GAAP EPS $10.35 - $10.75, which represent forward PE of 9 ($95/ $10.35). I'm confident on AbbVie financial performance, at least for next 2-3 years (prior to Humira biosimilar entry into US market).

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