Flash Sale of Dividend Stocks
August 31, 2022
The following dividend stocks were sold.
Exiting Pfizer Inc. (PFE) as the COVID drug and vaccine sales spike is over. In addition, PFE has the risk of some litigation regarding its COVID vaccine.
Silvercrest Asset Management Group Inc. (SAMG) and Artisan Partners Asset Management Inc. (APAM) are running into a more difficult operating environment and looked fairly valued versus their reduced earnings power.
The slowdown in the Chinese economy and impact on commodities, especially steel and iron ore, make earnings and cashflow declines for Rio Tinto Group (RIO) likely.
Intel Corporation (INTC) is in a down earnings cycle that could take a few years before bottoming. The company has fallen off the leading edge of process and product.
3M Company (MMM) suits regarding ear plugs for the military received a further negative set back and look difficult to contain.