I’ve got a purchase to bring you up to date on.  It’s a buy of an existing Portfolio stock that took place 10 days ago.

I was holding off on posting about this purchase since I was expecting to make an additional buy.  I figured I’d just post about both at the same time.

However, that additional buy didn’t come to pass.  Thus, let me cover the one buy I did make before it becomes stale information.

The stock I purchased has been trending downward year-to-date, along with many of its Financial sector cohorts.  It’s my 3rd purchase of the stock in 2022.

Here are the details…

 

JPMorgan Chase & Co. (JPM)

Prior to the start of 2022, it had been about 2 1/2 years since I last purchased some JPM.

When the price of JPM started dropping to begin 2022, I started making some small additional purchases to supplement my position.  In January, I bought 1 share of JPM at $146.  I then purchased another 3 shares in March at $137.99.  What did I do this time?

On 4/14/22, I bought 3 shares of JPM at $126.00 for a total of $378.00.  This was a 4% increase in the size of my position.

From a P/E perspective, shares are less expensive now than when I bought my original shares in late 2018.

The stock yielded 3.17% at my purchase price (comfortably above my current Portfolio average of 2.54%).

I now own 77.961 shares of JPM.  The purchase raised my cost basis to $107.37/share.

This purchase boosted my annual forward dividend income by $12.00.

After a slowdown due to the economic impact of the pandemic, dividend growth for JPM resumed a double-digit pace last year.  I expect more of the same moving forward if we can avoid an economic recession.

In terms of my Portfolio value for JPM, it’s now the 25th largest holding in my Portfolio.  This puts it firmly in the middle of the pack.  JPM sits behind pharmaceutical giant Merck & Co. (MRK) in my Portfolio rankings, but ahead of technology stalwart Texas Instruments (TXN).

Since JPM was an existing holding, the number of stocks in my Portfolio remained at 57.

 

Summary

I purchased three JPM shares a little over a week ago, increasing my position by 4%.

It was my third JPM addition since the start of the year, with each purchase coming at a lower share price – the most recent being $126/share.

The purchase resulted in a net investment of $378 into my Portfolio, and my forward dividend income increased by $12.

I plan to keep adding JPM shares in the wake of further share price declines.

 

Which stocks have you acquired more than once in 2022?  Please share in the comments!