SOLD all shares of AT&T. Bought Leggett & Platt, Public Storage REIT, AbbVie Inc

As I mentioned in my articles on Seeking Alpha, I got rid of all my AT&T stock as soon as I heard of the AT&T - Time Warner deal. The acquisition, combined with DirecTV, I feel is just too much to digest. I don't know what the business will look like in two years, and I don't like that uncertainty so I sold it all. I'd been buying AT&T since 2013, had a nice capital gain, plus some very nice dividends.

I replaced AT&T with a combination of Leggett & Platt and Public Storage REIT. Both of these names are way down, especially Public Storage. Leggett & Platt, in particular, has a 45 year history of raising its dividend, and so I found it a fitting replacement for AT&T. As for Public Storage, it remains a growth name despite some slowness in the industry overall. I'm fine with that.

Later I also loaded up on AbbVie with excess cash I had floating around. AbbVie was down huge on what I thought were actually pretty decent earnings. I like AbbVie, I like its 12% dividend hike, and I really like that 4.6% yield. Had I known AbbVie were going to drop so much I would have saved some of my AT&T money and plowed some of it into AbbVie instead.