New Jersey's 5th congressional district representative, Josh Gottheimer, has been active in the stock market, according to a recent congressional trade report. The transactions, which occurred in September 2024, involved a mix of sales and purchases of stocks across a wide range of companies.
The stocks were held in his Morgan Stanley (NYSE:MS) - Select UMA Account # 1. Each transaction was valued between $1,001 and $15,000.
Gottheimer made partial sales of stocks from companies such as Alamo Group, Inc. (NYSE:ALG), Alphabet (NASDAQ:GOOGL) Inc. - Class C Capital Stock (NASDAQ:GOOG), Amphenol Corporation (NYSE:NYSE:APH), and ASML Holding (AS:ASML) N.V. - New York Registry Shares (NASDAQ:ASML).
The congressman also sold stocks from Allegro MicroSystems, Inc. (NASDAQ:ALGM), BioNTech SE (NASDAQ:BNTX) - American Depositary Shares (NASDAQ:BNTX), Celsius Holdings , Inc. (NASDAQ:CELH), Chord Energy Corporation (NASDAQ:CHRD), and Eaton (NYSE:ETN) Corporation, PLC Ordinary Shares (NYSE:ETN).
On the purchase front, Gottheimer added stocks from Apple Inc. (NASDAQ:AAPL), Blackstone Inc. (NYSE:NYSE:BX), Crinetics Pharmaceuticals (NASDAQ:CRNX), Inc. - Common Stock (NASDAQ:CRNX), HDFC Bank Limited Common Stock (NYSE:HDB), and Independence Realty (NYSE:IRT) Trust, Inc. Common Stock (NYSE:IRT) to his portfolio.
Other purchases included stocks from International Business Machines Corporation (NYSE:NYSE:IBM), Mastercard Incorporated Common Stock (NYSE:NYSE:MA), McDonald's Corporation Common Stock (NYSE:NYSE:MCD), NESTLE S.A S/ADR (OTCMKTS:NSRGY (OTC:NSRGY)), and PayPal (NASDAQ:PYPL) Holdings, Inc. - Common Stock (NASDAQ:PYPL).
InvestingPro Insights
Given Congressman Gottheimer's recent stock market activity, it's worth taking a closer look at one of the financial institutions involved in his transactions: Morgan Stanley (NYSE:MS). As the account holder for these trades, Morgan Stanley's performance and outlook could be of interest to investors following congressional trading patterns.
According to InvestingPro data, Morgan Stanley currently boasts a market capitalization of $174.57 billion, reflecting its significant presence in the financial sector. The company's P/E ratio stands at 17.56, suggesting a moderate valuation relative to its earnings. Notably, Morgan Stanley has demonstrated strong financial performance, with a revenue of $56.12 billion over the last twelve months as of Q2 2024, representing a growth of 5.5%.
InvestingPro Tips highlight Morgan Stanley's consistent dividend history, having raised its dividend for 10 consecutive years and maintained payments for 32 years. This track record may appeal to income-focused investors like Gottheimer. Additionally, the company's dividend yield of 3.43% could be attractive in the current market environment.
Another relevant InvestingPro Tip indicates that Morgan Stanley is trading near its 52-week high, which aligns with its impressive 1-year price total return of 41.87%. This performance might explain why the congressman chose to conduct his transactions through a Morgan Stanley account.
For investors interested in a deeper analysis, InvestingPro offers 11 additional tips for Morgan Stanley, providing a more comprehensive view of the company's prospects and potential risks.
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