Late this week, I picked up a few more shares of an existing Portfolio stock.  This was my 4th purchase of the stock in 2022.

Each purchase has been at a successively lower price, making it easy to continue adding shares.

Let’s jump into the details…

 

JPMorgan Chase & Co. (JPM)

With the share price of JPM closing in on a 29% decline for 2022, I snatched up some additional shares of JPM.

I know I’ve mentioned wanting to eventually obtain 100 shares of JPM.  The recent price decline has allowed me to add some shares at favorable prices and bump up my share total.  However, I’ve still got some work to do to reach 100 shares.

On 6/24/22, I bought 3 shares of JPM at $112.94 for a total of $338.82.  This was a 3.82% increase in the size of my position.

The stock yielded 3.54% at my purchase price (easily above my current Portfolio average of 2.76%).

I now own 81.57 shares of JPM, and JPM now supplies me with annual dividend income of $326.28.

The purchase raised my cost basis just a bit to $107.69/share.

This purchase also increased my Portfolio’s annual forward dividend income by $12.00.

While YoY earnings will be down in 2022 for JPM, analysts expect that earnings growth will rebound to low double-digit or high single-digit growth in the 2 years after that.  Thus, I expect a decent price rebound for JPM in the next year or two.  While I wait for the price turnaround, I’ll see if I can continue to add shares here and there to reach that 100 share total.

In terms of my Portfolio value for JPM, it’s still the 25th largest holding in my Portfolio – just as it was 2 months ago when I last purchased some JPM shares.  JPM trails Starbucks (SBUX) in my Portfolio rankings, but is ahead of Gentex (GNTX).

Since JPM was an existing holding, the number of stocks in my Portfolio held steady at 58.

 

Summary

I purchased three JPM shares this past Friday, early in the trading day before the market run-up.  This increased my position by over 3.8%.

It was my fourth JPM addition since the start of the year, with each purchase coming at a lower share price – the most recent being just under $113/share.

The purchase resulted in a net investment of almost $339 into my Portfolio, and my forward dividend income increased by $12.

I plan to keep adding JPM shares if the stock price drops further.  Hopefully, I’ll reach the 100 share total I’m targeting for JPM.

 

What stock has been your favorite to pile into during the 2022 market decline?  Are these shares you’ve waited to add to your portfolio for a while?  Please share in the comments!