Sold SBS and PM

Well, I have a lot more cash.  I sold two of my longest held (and most profitable) stocks in my dividend portfolio yesterday. 

• SBS - I had bought them first way back in 2006 and had an 88% gain as they went from $18.88 to $34.44. I then re-bought them just over two years ago in May of 2010 at $38.36.  Counting dividends, that purchase ended up a snappy 136%.
• PM - I bought them in June of 2010 (I think at the time they were momentarily on the MFI screens as they had sold off due to European worries) at $44.02. I sold 1/2 of my position a year later for what seemed a nifty 59% gain.  I sold the other half yesterday for a 123% gain.

These two stock exemplify a point I'd like to make.  I do not know how many people say "buy and hold is dead" or you can only make money in the short term.  I know that owning a stock for two years does not make it "long-term" but that is way past the attention span of many of today's high frequency traders (they make it up in volume).

I felt I sold them for two reasons.  First they were getting a bit in the over-bought category (PM has gone from $78 to $92 since start of year and SBS has gone from $56 to $86)!  Second, I wanted to make sure I would pay the minimum of long-term capital gain taxes as they had both more than doubles, I had a sizable CG.

I still admire both firms.  I will clearly have to wait for the 30 day wash rule to pass, but then I will consider re-entering if I can get a bit of a discount.

Here is my portfolio as it currently stands.  While I am still doing well, some of the out-performance has shifted from open positions to closed positions.  Also, my total expected annual dividends has dropped a bit.


 

Stock	Shares	Avg Cost	Current Price	Dividends Received	Pct Change	R3K Change	Diff
BHK	2,994	12.59	14.91	2,466	24.9%	3.6%	21.4%
CPL	1,530	22.61	23.68	877	7.3%	14.6%	-7.3%
CSCO	4,230	17.19	16.69	825	-1.8%	4.0%	-5.8%
CSQ	5,293	8.22	10.01	3,368	29.6%	19.3%	10.3%
ENH	2,000	34.80	35.69	-	2.6%	1.8%	0.7%
FCX	1,021	37.55	34.34	749	-6.6%	8.0%	-14.6%
FSC	2,678	9.78	10.43	755	9.5%	2.1%	7.5%
HFC	1,069	33.80	39.40	1,117	19.6%	0.7%	18.9%
INTC	1,291	19.69	26.31	1,559	39.8%	21.2%	18.6%
JPM	1,661	35.18	36.30	494	4.0%	3.9%	0.1%
JQC	4,717	8.86	9.33	3,736	14.2%	6.1%	8.1%
KMF	1,817	21.86	27.70	2,847	33.9%	15.5%	18.4%
KSS	909	47.61	52.02	289	9.9%	3.6%	6.4%
KSW	13,673	3.78	3.85	6,633	14.7%	18.5%	-3.8%
LNC	2,442	24.30	22.30	789	-6.9%	13.6%	-20.5%
MPC	575	43.84	49.35	142	13.1%	1.6%	11.5%
MSFT	959	26.80	29.95	1,036	15.8%	13.0%	2.7%
O	546	18.93	41.15	7,048	185.5%	65.8%	119.7%
OIBAX	3,837	4.90	6.49	6,273	65.9%	65.1%	0.8%
PGR	2,000	20.48	19.49	-	-4.8%	2.4%	-7.3%
PRE	1,023	61.86	72.65	1,552	19.9%	8.2%	11.7%
PVD	417	64.11	89.18	2,737	49.3%	15.7%	33.7%
SAI	3,926	13.05	11.76	821	-8.3%	-1.5%	-6.8%
STO	1,040	23.82	24.46	1,121	7.2%	17.4%	-10.1%
TROX	2,021	24.15	23.74	500	-0.7%	2.2%	-2.8%
VIVHY	2,896	17.01	19.11	4,841	22.2%	0.6%	21.6%
WBK	508	105.89	123.99	6,166	28.6%	13.4%	15.1%
XOM	223	52.56	87.45	1,084	75.6%	19.7%	56.0%
Total Open				59,825	14.8%	9.4%	5.4%
Closed					9.9%	8.2%	1.7%
Combined					11.9%	8.7%	3.3%
IRR Since 12/31/10					13.1%
2012 Gain					14.5%

Estimated Dividends for Next 12 Months
Stock	Shares	Ann Dividend / Share	Yield	Projected Dividend	Sector
BHK	2,994	$    0.88	5.9%	2,623	Bond
CPL	1,530	$    1.76	7.4%	2,693	Utility
CSCO	4,230	$    0.32	1.9%	1,353	Tech
CSQ	5,293	$    0.84	8.4%	4,446	Hybrid
ENH	2,000	$    1.24	3.5%	2,480	Insurance
FCX	1,021	$    1.24	3.6%	1,266	Resources
FSC	2,678	$    1.15	11.0%	3,078	Hybrid
HFC	1,069	$    0.90	2.3%	962	Resources
INTC	1,291	$    0.92	3.5%	1,187	Tech
JPM	1,661	$    1.20	3.3%	1,993	Finance
JQC	4,717	$    0.80	8.6%	3,774	Hybrid
KMF	1,817	$    1.72	6.2%	3,125	Pipelines
KSS	909	$    1.28	2.5%	1,163	Consumer
KSW	13,673	$    0.20	5.2%	2,735	Construction
LNC	2,442	$    0.32	1.4%	782	Insurance
MPC	575	$    1.40	2.8%	805	Resources
MSFT	959	$    0.80	2.7%	767	Tech
O	546	$    1.72	4.2%	939	Services
OIBAX	3,837	$    0.34	5.2%	1,301	Bond
PGR	2,000	$    0.41	2.1%	820	Insurance
PRE	1,023	$    2.56	3.5%	2,619	Insurance
PVD	417	$    5.13	5.8%	2,140	Finance
SAI	3,926	$    0.48	4.1%	1,885	Services
STO	1,040	$    0.98	4.0%	1,019	Insurance
TROX	2,021	$    1.25	5.3%	2,526	Insurance
VIVHY	2,896	$    1.30	6.8%	3,765	Consumer
WBK	508	$    8.13	6.6%	4,126	Finance
XOM	223	$    2.28	2.6%	508	Resources
Total			4.6%	56,879