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The Best Years Are Ahead

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By Brian Nelson, CFA — The wind is at our backs. — The Federal Reserve, Treasury, and regulatory bodies of the U.S. may have no choice but to keep U.S. markets moving higher. The likelihood of the S&P 500 reaching 2,000 ever again seems remote, and I would not be surprised to see 5,000 on the S&P 500 before we see 2,500-3,000, if the latter may be in the cards. The S&P 500 is trading at ~4,100 at the time of this writing. — The high end of our fair value range on the S&P 500 remains just shy of 4,000, but I foresee a massive shift in long-term capital out of traditional bonds into equities this decade (and markets … Read more

Dividend Increases/Decreases for the Week of October 28

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Below we provide a list of firms that raised their dividends during the week ending October 28. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week                AbbVie (ABBV): now $1.48 per share quarterly dividend, was $1.41. ACNB (ACNB): now $0.28 per share quarterly dividend, was $0.26. Alliance Resource Partners (ARLP): now $0.50 per share quarterly dividend, was $0.40. American Electric Power (AEP): now $0.83 per share quarterly dividend, was $0.78. Amphenol (APH): now $0.21 per share quarterly dividend, was $0.20. Associated Banc-Corp (ASB): now $0.21 per share quarterly dividend, was $0.20. … Read more

Dividend Increases/Decreases for the Week October 29

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Below we provide a list of firms that raised their dividends during the week ending October 29. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week A10 Networks (ATEN): now $0.05 per share quarterly dividend. AbbVie (ABBV): now $1.41 per share quarterly dividend, was $1.30. Alliance Resource Partners (ARLP): now $0.20 per share quarterly dividend, was $0.10. Amphenol (APH): now $0.20 per share quarterly dividend, was $0.14. Arbor Realty Trust (ABR): now $0.36 per share quarterly dividend, was $0.35. Armada Hoffler Properties (AHH): now $0.17 per share quarterly dividend, was $0.16. B. … Read more

Dividend Increases/Decreases for the Week Ending May 4

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Below we provide a list of firms that raised their dividends during the week ending May 4. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week 1st Source (SRCE): now $0.24 per share quarterly dividend, was $0.22. Allied Motion Technologies (AMOT): now $0.03 per share quarterly dividend, was $0.025. American Campus Communities (ACC): now $0.46 per share quarterly dividend, was $0.44. Apple (AAPL): now $0.73 per share quarterly dividend, was $0.63. Arbor Realty Trust (ABR): now $0.25 per share quarterly dividend, was $0.21. Artesian Resources (ARTNA): now $0.2387 per share quarterly dividend, … Read more

2,350-2,750 on the S&P? Could the Coronavirus Catalyze a Financial Crisis?

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Image: We think a rather modest sell-off in the market to the target range of 2,350-2,750 on the S&P 500 is rather reasonable in the wake of one of the biggest economic shocks since the Global Financial Crisis. The chart above shows how far markets have advanced since 2011, and an adjustment lower to the target range of 2,350-2,750 is rather modest in such a context and would only bring markets to late 2018 levels (note red box as the target range). The range reflects ~16x S&P 500 12-month forward earnings estimates, as of February 14, adjusted down 10% due to COVID-19. When companies like Visa talk about a couple percentage points taken off of growth rates, one knows that … Read more

VIDEO/TRANSCRIPT: 2021 Valuentum Exclusive Call: Inflation Is Good

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Valuentum’s President Brian Michael Nelson, CFA, explains why investors should not fear inflation, why government agencies such as the Fed and Treasury are prioritizing something other than price discovery, why the 10-year Treasury rate is a must-watch metric, and why Valuentum prefers the moaty constituents in large cap growth due to their net cash rich balance sheets, tremendous free cash flow generating potential, and secular growth tailwinds. Transcript: << Valuentum’s Best Ideas On behalf of the Valuentum team, I’d like to present to you our prepared remarks for the Valuentum Exclusive conference call for 2021. It is both an honor and a privilege to share our team’s work with you, and I personally am very grateful for your continued interest … Read more

Dividend Increases/Decreases for the Week Ending September 16

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Below we provide a list of firms that raised/lowered their dividends during the week ending September 16. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week American Tower (AMT): now $0.55 per share quarterly dividend, was $0.53. Condor Hospitality (CDOR): now $0.03 per share quarterly dividend, was $0.01. DTE Energy (DTE): now $0.77 per share quarterly dividend, was $0.73. Enterprise Financial Services (EFSC): now $0.11 per share quarterly dividend, was $0.10. Federated National Holding (FNHC): now $0.08 per share quarterly dividend, was $0.06. Fidelity Nasdaq Composite Index Tracking ETF (ONEQ): now $0.62 … Read more

US Congress Is Getting Ready to Pass a Massive ~$2.2 Trillion Fiscal Stimulus Bill

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Image Shown: US equities have started to recover some of their lost ground as the likelihood that the US Congress will pass a massive ~$2.2 trillion fiscal stimulus and emergency spending package, dubbed the CARES Act, has increased significantly over the past week as seen through the bounce in the SPDR S&P 500 ETF Trust (SPY). President Trump has clearly indicated that he intends to sign such a bill into law as soon as possible, with the US House of Representatives expected to take up the legislation this upcoming Friday morning on March 27. By Callum Turcan On March 25, the US Senate worked late into the night to secure a bipartisan compromise on a massive ~$2.2 trillion fiscal stimulus … Read more

There Is Milk At The Store

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This article first appeared in the September edition of the High Yield Dividend Newsletter. For more information about this publication, please see here. “Now this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning.” — Winston Churchill By Brian Nelson, CFA Very few of us could have imagined that we’d witness the bull market that began on that fateful day in March 2009 that might very well mark a generational low. In 2009, major investment banks around the globe were struggling to survive, and the fallout in the mortgage markets left the banks holding paper that nobody wanted to own, let alone buy. The global financial system … Read more

Our Thoughts on Big Pharma’s Calendar Fourth Quarter Earnings Reports

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Image Source: Merck & Company Inc – Fourth Quarter of 2021 IR Earnings Presentation By Callum Turcan In Alphabetical Order by Ticker: ABBV, GILD, LLY, MRK We include the Health Care Select Sector SPDR Fund ETF (XLV) in the Best Ideas Newsletter and Dividend Growth Newsletter portfolios to gain broad exposure to the health care sector. Instead of betting on one entity’s pipeline (which could be hit or miss), we like the exposure to lots and lots of “shots on goal” when it comes to the vast collective pipeline in the XLV ETF. We wrote up the calendar fourth-quarter results of the top two weightings in the XLV ETF, United Health (UNH) and Johnson & Johnson (JNJ) here and here, … Read more