In a recent congressional trade report, it was revealed that Josh Gottheimer, the congress member from New Jersey's 5th congressional district, has made a series of stock transactions. The trades were conducted through two investment accounts held with Morgan Stanley (NYSE:MS), namely the Select UMA Account # 1 and the Portfolio Management Active Assets Account.
The transactions involved several high-profile companies. Gottheimer purchased stocks from Abbott Laboratories (NYSE:ABT), Apple Inc. (NASDAQ:AAPL), Berkshire Hathaway Inc . (NYSE:BRKa) (NYSE:BRK.B), Coca-Cola Company (NYSE:NYSE:KO), First Watch Restaurant Group (LON:RTN), Inc. (NASDAQ:FWRG), Goldman Sachs Group , Inc. (NYSE:NYSE:GS), ServiceNow, Inc. (NYSE:NYSE:NOW), Spotify (NYSE:SPOT) Technology S.A. (NYSE:SPOT), Starbucks Corporation (NASDAQ:SBUX), and Tandem Diabetes Care, Inc. (NASDAQ:TNDM). Each purchase fell within the range of $1,001 to $15,000.
In addition to these purchases, Gottheimer sold stocks from Advanced Micro Devices, Inc. (NASDAQ:AMD), Air Products and Chemicals, Inc. (NYSE:NYSE:APD), BioNTech SE (NASDAQ:BNTX), Booking Holdings Inc. (NASDAQ:BKNG), Chuy's Holdings, Inc. (NASDAQ:CHUY), Eaton Corporation PLC (NYSE:NYSE:ETN), Haier Smart Home U/ADR (OTCMKTS:HSHCY), Jabil Inc. (NYSE:JBL), Lowe's Companies, Inc. (NYSE:NYSE:LOW), Marriott International (NASDAQ:MAR), Norfolk Southern Corporation (NYSE:NYSE:NSC), Oracle Corporation (NYSE:NYSE:ORCL), Shopify Inc . (NYSE:NYSE:SHOP), Synopsys, Inc. (NASDAQ:SNPS), Tesla, Inc. (NASDAQ:TSLA), Texas Instruments Incorporated (NASDAQ:TXN), and Uber Technologies, Inc. (NYSE:NYSE:UBER). These sales also fell within the $1,001 to $15,000 range, with the exception of partial sales of some stocks.
Notably, Gottheimer also engaged in options trading with Microsoft Corporation's stocks (NASDAQ:MSFT), both purchasing and selling options. The transactions, which involved call options with a strike price of $225 and an expiration date of 12/19/2025, were each valued between $15,001 and $50,000.
The transactions were all filed as new with the Legislative Resource Center and all took place between August 1, 2024, and August 30, 2024. These trades provide a snapshot of Gottheimer's investment activity during this period, offering insight into the financial decisions of this congressional member.
InvestingPro Insights
As Congress member Josh Gottheimer delves into the stock market, it's noteworthy to consider the financial health and market performance of Morgan Stanley (NYSE:MS), through which his transactions were conducted. Morgan Stanley, a leading firm in the Capital Markets industry, has demonstrated a strong commitment to returning value to shareholders, as evidenced by raising its dividend for 10 consecutive years and maintaining payments for over three decades. This aligns with Gottheimer's investment activity, potentially indicating a strategy focused on stable and reliable returns.
InvestingPro data highlights Morgan Stanley's robust financial position with a market capitalization of $156.04 billion and a price-to-earnings (P/E) ratio of 15.73, suggesting a market valuation that reflects its earnings potential. The company's revenue growth has been positive, with a 5.5% increase over the last twelve months as of Q2 2024. Moreover, Morgan Stanley's dividend yield stands at an attractive 3.83%, further underscoring its appeal to investors seeking income alongside capital gains.
InvestingPro Tips indicate that analysts remain optimistic about Morgan Stanley's prospects, with seven analysts revising their earnings expectations upwards for the upcoming period. This sentiment is supported by the company's solid performance history, including profitability over the last twelve months and a strong return over the last five years. For investors interested in a more comprehensive analysis, InvestingPro offers additional tips on Morgan Stanley, which can be found at InvestingPro.
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