Wells Fargo Corp. (WFC) is a great company. They have a huge moat, they take care of their customers, manage their debt, and most importantly they still make money. These are all the qualities I look for in companies that I want to add to the ultimate legacy portfolio that I'm piecing together.
As pictured above (myself and some guy dressed as "pedo-bear"), I have simply been watching and waiting for this moment. Sometimes that's all it takes. There's a good metaphor in there but I can't quite grasp it right now. I'll simply put it this way, if you wait long enough, what you want will eventually find its way to you. Let's sum up the purchase then:
Purchased 22 shares of WFC on 6/28/2016 @ $45.47/share
+$9.99 trade fee
Total investment cost: $1,010.33
Total annual dividend added to the Dividend Scythe: $33.44
I know this purchase isn't exactly what I had planned. I had been keeping my eye on Boeing (BA) for a time there as well but I didn't have enough capital to bring in a solid position into Boeing (BA) like I wanted so I opted for Wells Fargo Corp. (WFC) instead. Also, with the Brexit news I highly anticipate that Wells Fargo Corp. (WFC) will see a sizable bump in the future. I take this as a sign of a rate hike and I hope that I'm right as they generally play very well for those who own banks in their portfolios.
You made a solid investment choice. They are almost at their 52 week low, the low being yesterday, and they are very insulated from what goes on outside the US. Solid play, great dividend stock, I am hoping to open a position soon. BA is an interesting story and one I have been watching. Recently bought GILD though as I consider it severely undervalued.
ReplyDeleteI sure thought so. I was happy to finally be able to buy into it. I've had my eye on it for longer than any other stock on my watch list.
DeleteNice pick up. As you know I have WFC on my potential buy list for June and July. Besides the Canadian banks I like WFC and USB and that's about it for the American banks. Thanks for sharing.
ReplyDelete