As recession fears mount, this congressman buys 2 defensive consumer bonds

As recession fears mount, this congressman buys 2 defensive consumer bonds

Facebook
Twitter
LinkedIn

congressman Pete Sessions (R-TX) has served eleven terms in the US House of Representatives and has made more than 80 trades in the last three years, per Capitol Trades. Sessions failed to properly disclose up to $105,000 in stock trades in 2021, according to Market Insider, in violation of a federal conflicts of interest and transparency law by failing to correctly report seven of them his own stock deals.

Meanwhile, Sessions supports more transparency and integrity in reporting standards, rather than banning members of Congress from trading stocks altogether. Capitol Trades revealed that the three most traded stocks in lawmakers are usually microsoft corp MSFT, Amazon.com Inc AMZNand Nvidia group NVDA.

Sessions also recently bought shares of two defensive consumer dividend stocks.

Also read: House Energy Committee member buys 2 dividend stocks and sells ConocoPhillips stock

Verizon Communications Inc. vz offers a dividend yield of 6.89%, or $2.61 per share annually on quarterly payments, with an excellent track record of growing its dividends for 18 consecutive years.

  • Verizon is the largest US wireless carrier, where it derives nearly 80% of its operating income.
  • The company reported a net loss of 189,000 mobile subscribers for postpaid phones in the third quarter of 2022.
  • Sessions bought between $1,000 and $15,000 in Verizon stock for $38.89 per share on Sept. 27, filed under his spouse, per Capitol Trades.

McDonald’s Corporation MCD offers a dividend yield of 2.18%, or $6.08 per share annually through quarterly payments, with an outstanding track record of growing its dividends for 20 consecutive years.

  • McDonald’s is the largest restaurant owner and operator in the world.
  • The company had $112 billion in systems sales in 2021 from nearly 40,000 stores and more than 100 markets.
  • Sessions acquired between $1,000 and $15,000 worth of McDonald’s stock on September 21 for $251.08 per share filed under his spouse.

[ad_2]

Source story

More to explorer