Stock price when the opinion was issued
He added more AbbVie. Obviously, today's news about the disappointing drug trials is not good. This schizophrenia drug was projected to make $1.1 billion in sales four years from now. But today's share plunge is too great, overdone. He might add on even more weakness. Trades at 14x forward PE and pays a 3.9% dividend. It's a great company on sale. They have a long track record of making acquisitions.
Seems to have grown to a bigger piece of the portfolio than the investor is comfortable with. Doesn't have too strong an opinion on this particular stock. If you want to trim, a great way is to sell a covered call -- you sell somebody the right to buy the stock from you at a higher price.
With shares right now around $194, you can sell a September $200 call for about $4.50. If the stock doesn't go up, then you end up just hanging on to your stock.
The drug companies are in the dog house. If you buy this, you must be patient. It yields 4%.