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Minutes for June 19, 2017

Meeting place:

Sue Easton’s

2527 Fletch Court

Lake Mary, FL 32746

Call to Order: Henry called the meeting to order at 7:14

Approval of Minutes:

The minutes of the May 15, 2017 meeting were approved.

New Software:

Pat presented information on the need for software maintenance. We approved the cost of software maintenance of $79.99

Report of the Treasurer: Transaction Statement as of June 17, 2017

·  Cash in Broker: $ 2,466.30

·  Club Valuation: $ 186,351.75

·  Cash and Reinvested Distributions: $ 601.23

o  ABBVIE 64.00

o  Abbot Lab 13.25

o  Apple 53.55

o  Welltower 87.00

o  First Trust NASD 9.05

o  Wells Fargo 38.00

o  Southern Co 87.00

o  Microsoft 39.00

o  Honeywell 49.88

o  Target 30.00

o  Met Life 40.00

o  Applied Mtrls 5.00

o  Duke Energy 85.50

·  Unit value: $ 25.44

Portfolio recap dated June 19 (at end)

Ed observed that the portfolio is at a new high and we are doing very well.

GENERAL BUSINESS SESSION

Effective with the June 2017 meeting, partners approved a one-year waiver for Carolyn Achenbach of the monthly contribution to the UAIC Investment Fund. Carolyn will remain a UAIC Partner and Vice-President. This waiver will be eligible for reconsideration and extension in June 2018. She additionally reduced her equity $2,983.29 to the Partnership minimum of $1100 as of the May 31, 2017 NAV.

We approved a Bylaws Amendment to Article IX to reduce each Partner’s minimum contribution to the UAIC Investment Fund to $50 per month vs $75. Some Partners indicated they would continue to contribute at the $75.00 level.

EDUCATION SESSION

UAIC Template Review – Partners compared and discussed the UAIC Template on International Paper (IP). Henry demonstrated ways to understand and use the template and resources using the projector.

Monitored Stock Updates:

Partner / Stocks / Comments
Jim / ORAN / No significant news
ABBV / New high. Changed to 78 high 61 low
FPE / No significant news
Pat / SO / No news
JCI / Paid $.25 dividend. Henry noted that the automotive sector seems to be waning. In July we will review again.
TGT / Impact from Amazon’s buyout of Whole Foods. Dropped and bounced back somewhat. Changed hi 57 / low 50
Carolyn / ABT / On list of overpriced stock. No significant news
TDIV / Need to review more closely
WFC / Need to review more closely
Sue / CVS / Amazon's (AMZN) $13.7B buyout offer for Whole Foods is seen as increasing price pressure on the already wounded food-retail industry. The sector's decline which includes CVS is the largest percentage drop since August 8, 2011
WM / Continues to have strong reoccurring revenue - steady
HCN / Filed new form with SEC – potential future impact unknown. Otherwise no news. Changed high to 80 and low to 70
Henry / MET / Not yet specified how stocks will be divided when spinoff occurs. Doing ok. May see change in top executives in near future.
AMAT / Went down a little but bounced back. Performing well.
Sam / MSFT / No major news
Duke / No major news
John / LMT / Changed 300 high and 260 low. New partnership w/ India to build fighters
PEP / Changed high to 125 and low to 100
ADP / Doing well
Ed / AAPL / Still climbing
DVY / Doing great
ATT & VZ / No problems – feel good about them
Charlie / GE / No input
HON / Doing well. Changed high to 140 low to 125
VYM / Changed high to 85 and low to 75

Stock Recommendations –No stocks were purchased.

July 17, 2017
Scarfo’s (no) / August 21, 2017
Brame’s (meal) / Sept 18, 2017
Jim (no) / Oct 16, 2017
John(meal) / Nov 20, 2017
Charlie (no) / Dec 2017
No meeting
Jan. 15, 2018
Carolyn (meal) / Feb. 19, 2018
Sue (no) / Mar. 19, 2018
Scarfo’s (meal) / April 16, 2018 Brame’s (no) / May 21, 2018 Jim’s (meal) / June 18, 2018
John (no)

Adjournment: The meeting adjourned at 9:14 PM.

Henry Scarfo, President Sue Easton, Secretary

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Purch. Price * / Shares / Total cost** / Today's Price / Today's Value / Monthly change*** / Total change**** / Change % **** / Annual Dividend / Posted Yield / UAIC Yield / High Limit / Low Limit / Monitor / % of Total / June Divs.
Cash ------> / $2,466.30 / 1.3%
AAPL / $97.97 / 85 / $8,357.52 / $146.34 / $12,438.90 / $795.60 / $4,081.38 / 48.83% / $214.20 / 1.72% / 2.57% / $145 / $130 / Ed / 6.6% / $0.00
ABBV / $60.82 / 100 / $6,101.48 / $71.35 / $7,135.00 / $468.00 / $1,033.52 / 16.94% / $256.00 / 3.59% / 4.21% / $70 / $53 / Jim / 3.8% / $0.00
ABT / $42.77 / 50 / $2,148.49 / $48.87 / $2,443.50 / $241.50 / $295.01 / 13.73% / $53.00 / 2.17% / 2.48% / $55 / $40 / Carlyn / 1.3% / $0.00
ADP / $67.14 / 200 / $20,822.00 / $104.11 / $20,822.00 / $1,132.00 / $7,354.79 / 54.61% / $456.00 / 2.19% / 3.40% / $155 / $95 / John / 11.1% / $114.00
AMAT / $37.80 / 50 / $1,897.19 / $44.29 / $2,214.50 / $1.50 / $317.31 / 16.73% / $20.00 / 0.90% / 1.06% / $46 / $39 / Henry / 1.2% / $0.00
BMY / $56.66 / 50 / $2,842.99 / $55.20 / $2,760.00 / $5.00 / $82.99 / -2.92% / $78.00 / 2.83% / 2.75% / $64 / $48 / Carlyn / 1.5% / $0.00
CVS / $82.43 / 50 / $4,131.88 / $78.07 / $3,903.50 / $120.00 / $228.38 / -5.53% / $100.00 / 2.56% / 2.43% / $85 / $79 / Sue / 2.1% / $0.00
DUK / $50.06 / 100 / $5,026.04 / $86.86 / $8,686.00 / $328.00 / $3,659.96 / 72.82% / $342.00 / 3.94% / 6.83% / $89 / $65 / Sam / 4.6% / $0.00
DVY / $73.12 / 100 / $7,331.84 / $94.51 / $9,451.00 / $316.00 / $2,119.16 / 28.90% / $284.00 / 3.00% / 3.88% / $100 / $85 / Ed / 5.0% / $0.00
FPE / $19.00 / 100 / $1,909.99 / $20.00 / $2,000.00 / $14.00 / $90.01 / 4.71% / $36.00 / 1.80% / 1.89% / $21 / $17 / Jim / 1.1% / $9.00
GE / $20.01 / 150 / $3,021.48 / $28.79 / $4,318.50 / $91.50 / $1,297.02 / 42.93% / $144.00 / 3.33% / 4.80% / $35 / $28 / Chas / 2.3% / $36.00
HCN / $68.04 / 100 / $6,823.72 / $76.24 / $7,624.00 / $0.00 / $800.28 / 11.73% / $348.00 / 4.56% / 5.11% / $75 / $65 / Sue / 4.1% / $0.00
HON / $84.93 / 75 / $6,389.48 / $135.80 / $10,185.00 / $286.50 / $3,795.52 / 59.40% / $199.50 / 1.96% / 3.13% / $130 / $115 / Chas / 5.4% / $0.00
JCI / $37.54 / 75 / $2,835.80 / $42.54 / $3,190.50 / $6.75 / $354.70 / 12.51% / $75.00 / 2.35% / 2.66% / $55 / $40 / Pat / 1.7% / $18.75
LMT / $94.80 / 75 / $7,140.17 / $282.29 / $21,171.75 / $745.50 / $14,031.58 / 196.52% / $546.00 / 2.58% / 7.68% / $285 / $245 / John / 11.3% / $0.00
MET / $36.22 / 100 / $3,641.48 / $53.99 / $5,399.00 / $220.00 / $1,757.52 / 48.26% / $160.00 / 2.96% / 4.42% / $57 / $50 / Henry / 2.9% / $0.00
MSFT / $28.97 / 100 / $2,916.98 / $70.87 / $7,087.00 / $244.00 / $4,170.02 / 142.96% / $156.00 / 2.20% / 5.38% / $71 / $65 / Sam / 3.8% / $0.00
ORAN / $14.81 / 275 / $4,082.74 / $16.24 / $4,466.00 / $143.00 / $383.26 / 9.39% / $117.84 / 2.64% / 2.89% / $19 / $14 / Jim / 2.4% / $0.00
PEP / $56.82 / 50 / $2,861.18 / $117.27 / $5,863.50 / $166.50 / $3,002.32 / 104.93% / $161.00 / 2.75% / 5.67% / $95 / John / 3.1% / $0.00
SO / $40.47 / 150 / $6,100.47 / $51.42 / $7,713.00 / $216.00 / $1,612.53 / 26.43% / $348.00 / 4.51% / 5.73% / $55 / $46 / Pat / 4.1% / $0.00
T / $34.91 / 200 / $7,012.47 / $38.90 / $7,780.00 / $62.00 / $767.53 / 10.95% / $392.00 / 5.04% / 5.61% / $42 / $36 / Ed / 4.2% / $0.00
TDIV / $27.72 / 100 / $2,781.99 / $32.09 / $3,209.00 / $1.00 / $427.01 / 15.35% / $62.00 / 1.93% / 2.24% / $29 / $25 / Carlyn / 1.7% / $0.00
TGT / $81.33 / 50 / $4,076.49 / $51.71 / $2,585.50 / $182.00 / $1,490.99 / -36.58% / $124.00 / 4.80% / 3.05% / $84 / $71 / Pat / 1.4% / $0.00
VYM / $68.79 / 50 / $3,449.24 / $79.83 / $3,991.50 / $115.00 / $542.26 / 15.72% / $112.00 / 2.81% / 3.26% / $72 / $75 / Chas / 2.1% / $0.00
VZ / $37.13 / 200 / $7,455.47 / $46.57 / $9,314.00 / $238.00 / $1,858.53 / 24.93% / $462.00 / 4.96% / 6.22% / $55 / $44 / Ed / 5.0% / $0.00
WFC / $54.12 / 100 / $5,431.98 / $54.24 / $5,424.00 / $92.00 / $7.98 / -0.15% / $152.00 / 2.80% / 2.81% / $55 / $45 / Carlyn / 2.9% / $0.00
WM / $52.01 / 50 / $2,610.49 / $74.20 / $3,710.00 / $101.50 / $1,099.51 / 42.12% / $85.00 / 2.29% / 3.27% / $80 / $70 / Sue / 2.0% / $0.00
Equity values −------−−−−−−−−> / $3,848.65 / $53,040.39 / $4,723.34 / 3.03% / 4.10% / 100% / $177.75
Value including cash ------>
Cash available after next meeting ---> / $3,141.30 / 2017 Monthly Performance
* Per share price without fees / Jan / $171,616 / Apr / $181,200 / Jul / Oct
** From Valuation Statement, includes purchase fee(s) / Feb / $178,132 / May / $184,557 / Aug / Nov
*** Since last meeting / ` / Mar / $180,157 / Jun / $187,353 / Sep / Dec
**** increase/decrease excluding dividends / Final / 2015 $143,789 - 2016 $171,566