• Sun. Jan 29th, 2023

Congresswoman’s Spouse Purchases 2 Dividend Stocks, Sells Amazon And Comcast Shares – AbbVie (NYSE:ABBV), Amazon.com (NASDAQ:AMZN)

ByRobert Kuczmarski

Oct 27, 2022
Congresswoman's Spouse Purchases 2 Dividend Stocks, Sells Amazon And Comcast Shares - AbbVie (NYSE:ABBV), Amazon.com (NASDAQ:AMZN)

Democratic Congresswoman Kathy Manning has filed over 450 trades in the past three years, according to Capitol Trades.

Congress members, in general, have made thousands of trades over the past three years. Benzinga continues to keep track of these events.

Here are two dividend stocks Manning’s spouse traded.

Also Read: Donald Trump’s Former Adviser Steve Bannon Faces Four Months Prison Time For Contempt Of Congress

  • AbbVie Inc. ABBV is offering a dividend yield of 3.75% or $5.64 per share annually, making quarterly payments, with a frequent track record of increasing its dividends for nine consecutive years. AbbVie is a pharmaceutical company with a strong exposure to immunology and oncology, and its top drug, Humira, represents close to half of the company’s current profits. Congresswomen Manning’s spouse filed a purchase order of between $1,000 to $15,000 shares of AbbVie for $142.24 per share on Sept. 12.
  • AT&T Inc. T is offering a dividend yield of 6.22% or $1.11 per share annually, using quarterly payments, with an infrequent track record of increasing its dividends. AT&T’s wireless business contributes about two-thirds of the company’s revenue following the spinoff of WarnerMedia. Amongst the numerous Sept. 12 trades, Manning’s spouse disclosed the purchase of between $1,000 to $15,000 shares of AT&T for $17.38 per share.
  • Other Trades: On Sept. 12, in a filing disclosed by Manning’s spouse, shares of Amazon.com Inc. AMZN  Broadcom Inc. AVGO, and Comcast Corporation CMCSA were sold ranging between $1,000 to $15,000 in shares, reported by Capitol Trades. 

Manning serves as the U.S. representative from North Carolina’s 6th congressional district. She sits on a slew of committees and caucuses, but most notably she sits on the committees for Education and Labor as well as Foreign Affairs.

See Also: 2 Dividend Stocks A Prolific Trader, Lawmaker Just Bought

A membership seat in committees and caucuses may provide congress members with insider information on certain industries or economic events. It’s difficult to catch insider trading when trades are made months in advance of public disclosure.

As of Sept. 29, 72 Congress members violated the federal STOCK Act, which was formed to prevent insider trading. But certain lawmakers like Senator Elizabeth Warren and Senator Steve Daines want to go a step further and ban members of Congress and their spouses from owning or trading individual stocks.



Image and article originally from www.benzinga.com. Read the original article here.