Welch Group, LLC Buys Southern Co, Exxon Mobil Corp, Leggett & Platt Inc, Sells SPDR S&P 500, iShares Core S&P 500, PowerShares FTSE RAFI US 1500 Small-Mid Portfolio

• New Purchases: SLV, TGT, IVE, SMBK, SWKS, SCHX, BMWYY, SCIL, COST, SDRL,
• Added Positions: SO, XOM, LEG, T, IBM, MSFT, NVS, KMB, CL, VZ,
• Reduced Positions: SPY, SFBS, PRF, CAT, UN, GE, ROST, ADM, WFC, PFE,
• Sold Out: IVV, PRFZ, MCK, CNP, HON, PXH, IVPAF,

For the details of Welch Group, LLC's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Welch+Group%2C+LLC

1. Intel Corp (INTC) - 581,594 shares, 3.87% of the total portfolio. Shares added by 21.33%
2. Microsoft Corp (MSFT) - 301,079 shares, 3.51% of the total portfolio. Shares added by 27.43%
3. AbbVie Inc (ABBV) - 284,959 shares, 3.44% of the total portfolio. Shares added by 16.95%
4. Lockheed Martin Corp (LMT) - 78,367 shares, 3.38% of the total portfolio. Shares added by 22.76%
5. The Home Depot Inc (HD) - 146,775 shares, 3.34% of the total portfolio. Shares added by 23.26%

Welch Group, LLC initiated holding in iShares Silver Trust. The purchase prices were between $15.28 and $16.56, with an estimated average price of $15.79. The stock is now traded at around $15.70. The impact to a portfolio due to this purchase was 0.04%. The holding were 18,199 shares as of 2018-03-31.

Welch Group, LLC initiated holding in iShares S&P 500 Value. The purchase prices were between $106.61 and $121.11, with an estimated average price of $114.26. The stock is now traded at around $110.82. The impact to a portfolio due to this purchase was 0.03%. The holding were 2,346 shares as of 2018-03-31.

Welch Group, LLC initiated holding in SmartFinancial Inc. The purchase prices were between $21.03 and $23.7, with an estimated average price of $22.35. The stock is now traded at around $24.00. The impact to a portfolio due to this purchase was 0.03%. The holding were 8,500 shares as of 2018-03-31.

Welch Group, LLC initiated holding in Target Corp. The purchase prices were between $65.85 and $78.58, with an estimated average price of $72.79. The stock is now traded at around $70.81. The impact to a portfolio due to this purchase was 0.03%. The holding were 3,547 shares as of 2018-03-31.

Welch Group, LLC initiated holding in Skyworks Solutions Inc. The purchase prices were between $94.68 and $115.16, with an estimated average price of $103.99. The stock is now traded at around $89.30. The impact to a portfolio due to this purchase was 0.02%. The holding were 1,242 shares as of 2018-03-31.

Welch Group, LLC initiated holding in Schwab U.S. Large-Cap. The purchase prices were between $61.65 and $68.43, with an estimated average price of $65.24. The stock is now traded at around $63.87. The impact to a portfolio due to this purchase was 0.02%. The holding were 1,924 shares as of 2018-03-31.

Welch Group, LLC added to a holding in Southern Co by 37.81%. The purchase prices were between $42.92 and $47.2, with an estimated average price of $44.39. The stock is now traded at around $45.15. The impact to a portfolio due to this purchase was 0.82%. The holding were 524,975 shares as of 2018-03-31.

Welch Group, LLC added to a holding in Exxon Mobil Corp by 38.76%. The purchase prices were between $72.81 and $89.07, with an estimated average price of $80.06. The stock is now traded at around $78.99. The impact to a portfolio due to this purchase was 0.81%. The holding were 303,149 shares as of 2018-03-31.

Welch Group, LLC added to a holding in Leggett & Platt Inc by 42.00%. The purchase prices were between $41.8 and $48.8, with an estimated average price of $45.85. The stock is now traded at around $43.05. The impact to a portfolio due to this purchase was 0.8%. The holding were 475,595 shares as of 2018-03-31.

Welch Group, LLC added to a holding in AT&T Inc by 37.27%. The purchase prices were between $34.69 and $39.16, with an estimated average price of $36.85. The stock is now traded at around $34.78. The impact to a portfolio due to this purchase was 0.78%. The holding were 629,045 shares as of 2018-03-31.

Welch Group, LLC added to a holding in Microsoft Corp by 27.43%. The purchase prices were between $85.01 and $96.77, with an estimated average price of $91.45. The stock is now traded at around $95.45. The impact to a portfolio due to this purchase was 0.76%. The holding were 301,079 shares as of 2018-03-31.

Welch Group, LLC added to a holding in International Business Machines Corp by 36.43%. The purchase prices were between $147.59 and $169.12, with an estimated average price of $158.26. The stock is now traded at around $145.25. The impact to a portfolio due to this purchase was 0.76%. The holding were 144,206 shares as of 2018-03-31.

Welch Group, LLC sold out a holding in iShares Core S&P 500. The sale prices were between $259.62 and $288.66, with an estimated average price of $274.94.

Welch Group, LLC sold out a holding in PowerShares FTSE RAFI US 1500 Small-Mid Portfolio. The sale prices were between $123.59 and $136.21, with an estimated average price of $131.03.

Welch Group, LLC sold out a holding in McKesson Corp. The sale prices were between $138.75 and $176.72, with an estimated average price of $155.81.

Welch Group, LLC sold out a holding in PowerShares FTSE RAFI Emerging Markets Portfolio. The sale prices were between $22.43 and $25.3, with an estimated average price of $23.81.

Welch Group, LLC sold out a holding in Honeywell International Inc. The sale prices were between $143.26 and $164.99, with an estimated average price of $153.17.

Welch Group, LLC sold out a holding in CenterPoint Energy Inc. The sale prices were between $25.85 and $28.46, with an estimated average price of $27.26.