February 2023 Dividend Stock Purchases

As I'm writing this blog post, it's early March. The temperature is expected to reach a high of 38 degrees Fahrenheit for today (Saturday, March 4). I'll certainly take that temperature!

With that being said, now is a good time to look back on the dividend stock purchases that I made last month. Let's dig in.

I began the month by purchasing one share of Alphabet (GOOGL) at a cost of $103.02. As I explained in a blog post last year, I was compelled to buy the stock for its enviable market share in digital advertising and its eventual dividend.

The next stock purchase that I made was a share of Amazon (AMZN) at a price of $106.27. I executed this transaction because AMZN is a dominant player in e-commerce, cloud computing, and digital advertising.

My first dividend stock purchase during the month was four shares of WEC Energy Group (WEC) at an average cost per share of $92.73. The rationale for this buy can be found in my February 2023 Dividend Stock Watch List post. Given the $12.48 in net annual forward dividends that were added from this transaction, that equates to a 3.36% net dividend yield.

The next dividend stock purchase that I completed last month was four shares of Digital Realty Trust (DLR) at an average cost of $109.98 a share. Interested readers can again refer to the aforementioned February 2023 Dividend Stock Watch List post for more details. This transaction boosted my net annual forward dividends by $19.52, which works out to a 4.44% dividend yield.

My third dividend stock purchase was nine shares of Pfizer (PFE) at an average price per share of $43.97. This was an alternative dividend stock purchase to Fastenal (FAST) because it was my opinion that the stock ran up too much since I highlighted it in my February 2023 Dividend Stock Watch List post. This activity added $14.76 to my net annual forward dividends, which is equivalent to a 3.73% net dividend yield.

The next dividend stock purchase that I executed in February was four shares of Automatic Data Processing (ADP) at an average cost of $225.12 a share. ADP is the leader of the human resources and payroll management software and services industry. As long as businesses remain in business, there will always be a need for ADP. Coupled with strong earnings and dividend growth prospects, that is the case for owning the stock. This transaction added $20.00 in net annual forward dividends to my portfolio, which equates to a 2.22% dividend yield.

My fifth and final dividend stock purchase that I completed last month was eight shares of CVS Health (CVS) at an average price per share of $85.20. Readers seeking my investment thesis can find it in this recent Motley Fool article. This activity increased my net annual forward dividends by $19.36, which works out to a 2.84% net dividend yield.

Concluding Thoughts:

I deployed $2,997.89 in capital during the month of February 2023. These dividend stock purchases added $86.12 to my portfolio's net annual forward dividends, which is equivalent to a 2.87% dividend yield.

Paired with $19.194 in additional net annual forward dividends from February dividend increases, my net annual forward dividends surged from not quite $3,480 heading into the month to almost $3,585 at the end of the month.

Discussion:

How did you do with capital deployment in February 2023?

Did you open any new positions during the month as I did with ADP?

Thanks for your readership and please leave your comments below!