Laffer Investments Buys International Flavors & Fragrances Inc, Marathon Petroleum Corp, Fortive Corp, Sells Wells Fargo, Citigroup Inc, Aetna Inc

• New Purchases: IFFT, CVS, CWB, DVY,
• Added Positions: MPC, FTVPA.PFD, SPY, SWP, NORW, EWQ, EWT,
• Reduced Positions: DCUD, BDXA.PFD, CCIPA.PFD, FLOT, WFCPL.PFD, IGSB, MBB, HESPA.PFD, MO, SREPA.PFD, SJIU, LQD, WELLPI.PFD, HYG, BGEPF.PFD, AIZP.PFD, AREPD.PFD, NTB, BDCPB.PFD, ETPPD.PFD, DLRPH.PFD, CPJ.PFD, CSCO, JNJ, KMI, LYB, PEP, PFE, RIO, SIX, EPRPE.PFD, MSPF.PFD,
• Sold Out: WFC, C, AET, CA, GS, MAT, WHR, NBRPA.PFD, EQM, RYAMPA.PFD,

For the details of Laffer Investments's stock buys and sells, go to https://www.gurufocus.com/guru/laffer+investments/current-portfolio/portfolio

1. Microsoft Corp (MSFT) - 112,366 shares, 3.97% of the total portfolio.
2. JPMorgan Chase & Co (JPM) - 66,128 shares, 2.25% of the total portfolio. Shares reduced by 0.21%
3. Merck & Co Inc (MRK) - 69,085 shares, 1.84% of the total portfolio.
4. UnitedHealth Group Inc (UNH) - 20,495 shares, 1.78% of the total portfolio.
5. Amgen Inc (AMGN) - 23,815 shares, 1.61% of the total portfolio. Shares reduced by 0.17%

Laffer Investments initiated holding in International Flavors & Fragrances Inc. The purchase prices were between $48.87 and $59.69, with an estimated average price of $54.81. The stock is now traded at around $50.98. The impact to a portfolio due to this purchase was 0.77%. The holding were 43,683 shares as of .

Laffer Investments initiated holding in CVS Health Corp. The purchase prices were between $62.92 and $80.8, with an estimated average price of $74.46. The stock is now traded at around $69.53. The impact to a portfolio due to this purchase was 0.3%. The holding were 12,980 shares as of .

Laffer Investments initiated holding in SPDR Bloomberg Barclays Convertible Securities. The purchase prices were between $45.13 and $53.42, with an estimated average price of $50.17. The stock is now traded at around $51.59. The impact to a portfolio due to this purchase was 0.18%. The holding were 11,301 shares as of .

Laffer Investments initiated holding in iShares Select Dividend ETF. The purchase prices were between $85.2 and $100.65, with an estimated average price of $95.51. The stock is now traded at around $97.04. The impact to a portfolio due to this purchase was 0.1%. The holding were 3,288 shares as of .

Laffer Investments added to a holding in Marathon Petroleum Corp by 90.00%. The purchase prices were between $54.32 and $86.39, with an estimated average price of $67.67. The stock is now traded at around $65.15. The impact to a portfolio due to this purchase was 0.68%. The holding were 70,071 shares as of .

Laffer Investments added to a holding in Fortive Corp by 75.35%. The purchase prices were between $872.45 and $1077.99, with an estimated average price of $982.62. The stock is now traded at around $1028.17. The impact to a portfolio due to this purchase was 0.31%. The holding were 2,241 shares as of .

Laffer Investments sold out a holding in Wells Fargo & Co. The sale prices were between $43.6 and $54.46, with an estimated average price of $51.11.

Laffer Investments sold out a holding in Citigroup Inc. The sale prices were between $49.26 and $72.62, with an estimated average price of $62.95.

Laffer Investments sold out a holding in Aetna Inc. The sale prices were between $195.13 and $212.7, with an estimated average price of $203.61.

Laffer Investments sold out a holding in CA Inc. The sale prices were between $42.83 and $44.44, with an estimated average price of $44.07.

Laffer Investments sold out a holding in Goldman Sachs Group Inc. The sale prices were between $156.35 and $231.65, with an estimated average price of $200.26.

Laffer Investments sold out a holding in Mattel Inc. The sale prices were between $9.26 and $15.25, with an estimated average price of $13.15.