Stock Buy $WFC

One of the reasons why I enjoy reporting my recent stock acquisitions is because it is a true form of paying yourself first type of approach. It is also one of the main principles of personal finance towards wealth accumulation. Therefore, before I do anything with the paycheck I receive, I pay it myself first by buying quality peaces of businesses that generate reoccurring income. The stock market wealth building system is set up and it is ultimately up to us to either use it to build wealth or continue ignoring it. I choose to use it and the steps that I take are quite simple. I always take a percentage of my savings every month, which is usually half or 50% of the money I saved that month and pay it myself first by transferring to my brokerage account. Since I already paid myself and the money is in the investment brokerage account, I then patiently wait and look for opportunities to present themselves. Once the best type of opportunity at the current time has presented itself, I then initiate an acquisition into the stock and become an owner of an asset that not only grows in long-term value, but it continuously generates passive income in the form of growing annual dividends. With these same exact steps I automatically replicate month-in and month-out to continue paying myself first and building my investment portfolio that taps into the power of compounding.

This recent stock market downturn presented a number a valuable opportunities for the future. I even think there were too many opportunities to capitalize upon. Who would have known the markets would continue being very volatile so many times these last couple of months. Though, the good thing is that I am not buying the whole market. I am initiating purchases into sound and highly profitable businesses that know how to grow and rewards its shareholders. This is why I went with Wells Fargo & Co. (WFC), as it presented itself at a very compelling valuation, terrific fundamentals and great business model. I actually got my home mortgage loan from the company and was very satisfied with the transaction.

I purchased the stock just bellow the 52 week low range.

Also, the company should be reporting a dividend raise after the next quarter.

Wells Fargo & Company was founded in 1852 and is headquartered in San Francisco, California. It is an international banking and financial services company that operates in 36 countries with approximately 8,700 locations and 12,500 ATMs. The company provides products and services to individuals, small businesses, and large businesses. It operates primarily in four major categories: Community Banking, Wealth and Investment Management, Consumer Lending, and Wholesale Banking. The company is one of the four biggest banks in United States and has one of the most valuable banking brands in the world.

• Dividend Yield: 3.1%
• 3Yr Dividend Growth Rate: 23.7%
• Payout Ratio: 34.6%
• P/E: 11.7
• Consecutive Years of Dividend Raises: 4

I purchased 21 shares for the price of $48.10 adding $31.50 to my annual dividend income.

This is the 1st time I am initiating a stock acquisition this new year of 2016. The transaction is my first ever purchase of WFC into the portfolio. Also, the acquisition of WFC makes it the 35th company I am invested in. Currently, WFC ownership stake represents to be around 1.5% of my current portfolio value.

The 12-month dividend income increased to $2,704.

Thank you for reading & have a great day!