Some minor portfolio changes this week with my recent buy (VZ) and recent sell (PBCT). Every now and then these changes and tweaks are necessary to building and growing a strong portfolio. Recently, MTB is buying PBCT. As a result, there was a nice jump in the stocks value as of late. As such, based on the merger deal, I would be receiving 26 shares of MTB and a reduction in dividend income. Thus, I decided to sell PBCT and invest the money elsewhere. So, I added on to my position in VZ. This works out well as I end up with even more dividend income then I had before this portfolio tweak.
I sold all 222 of my shares of PBCT and bought 70 shares of Verizon (VZ). The sell left reduced my dividend income by $159.84. However, the purchase of VZ added $175.70 in dividend income. Thus, altogether with my current position I now own 124 shares of VZ. This brings me to $311.24 in forward annual dividend income from VZ in total. Of course, this means the number of stocks I own decreases by 1 down to 44, but that is fine. Overall, I ended up with a net gain of $15.86 in dividend income.
Thus, concludes my Recent Buy (VZ) and Recent Sell (PBCT). This is a pretty short post as there is not much else to report. I am getting ready to make some more stock purchases in late March or early April as my cash reserves are nearly filled up. I may just add on to positions I already have as opposed to buying new stocks, but we will see how the market is then and what opportunities are available.
As of this post, my portfolio is set to generate $11,177 in dividend income over the next 12 months. I am expecting a record March as this month marches onward. This is going to be great! So, what do you think of my recent buy and sell? Do you own PBCT? Do you plan on holding or selling? Let me know in the comments below!
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