It has been argued time and time again that members of Congress should not be able to own stock. However, many congressmen and women move from the business world into politics (just take a look at President Donald Trump). Some members of Congress do sell their stock market holdings before taking office. Many others don’t and they hold stock in some of the largest companies in the U.S. Here is a list of the top 10 stocks owned by Congress:
Top 10 Stocks Congress Owns
1. General Electric
According to The Motley Fool, 69 members of Congress own stock in General Electric (NYSE: GE). GE is a company that has been around for more than 100 years and it is a brand that Senators really seem to place their money with. It is also an all-American company (which helps its chances of being on this list). Currently, GE stock is selling for around $15 per share.
2. Procter & Gamble
Procter & Gamble (NYSE: PG) has seen some controversy in recent years regarding its talcum powder. It was said to cause feminine cancers among women who’d used it. That hasn’t stopped members of Congress from continuing to invest in the company though. The stock price per share for about $84. Fifty-five congressmen and women currently own stock in Procter & Gamble.
Apple (NASDAQ: AAPL) isn’t a surprising company to see on this list. The company’s stock has been doing spectacularly for years. About 48 members of Congress own stock in Apple. The tech company’s stock prices are sitting about $160.
4. JP Morgan Chase
JP Morgan Chase (NYSE: JPM) is another company that isn’t too surprising to see here. Like some of the other finance companies on the list, JP Morgan has had some lawsuits and other mishaps but it hasn’t hurt them too much. Around 46 members of Congress own stock in JP Morgan (priced around $114 per share).
5. International Business Machines
With bigger names like Microsoft and Apple on the list, you may be surprised to see International Business Machines (NYSE: IBM), also known as IBM. Although IBM hasn’t been a leader in the industry necessarily, they are reamining relevant. Somewhere around 48 members of Congress own stock in IBM, which is priced around $159.
Another 47 members of Congress invest in AT&T (NYSE: T), one of the largest telecommunications companies in the world. They serve millions of people worldwide. Right now AT&T’s stock price sits at about $38 per share.
7. Johnson & Johson
About 45 members of Congress own stock in Johnson & Johnson. The company closed the market on Friday, February 2, 2018, at $137.68, making it a bit more expensive than AT&T. However, Johnson & Johnson stock has been steadily falling recently.
Thirty-one members of Congress own stock in Merck. Merck & Co, Inc. is one of the largest pharmaceutical companies in the world. It serves individuals in the United States and Canada and has a current market price of about $58 per share.
9. PepsiCo Inc.
PepsiCo has been in the news recently due to a controversial commercial. Many people probably didn’t know 38 members of Congress own stock in PepsiCo Inc. Despite the controversy, PepsiCo still holds a value of $118 per share on the market as well.
10. Verizon Communication
Forty-seven members of Congress own stock in Verizon. The telecommunication company has been rising in value over the past few years and currently sits at $52 per share.
Some of the most interesting stocks to find on the list this year are those to do with mass communication. A hot-button issue in the news recently has been net neutrality and, as you can see, members of Congress openly support and invest in large telecommunications companies. Identifying what stock Congress buys can help you decide which stock you may consider buying but it can also educate you on where they stand on some political issues as well.
Each of the top 10 stocks Congress owns is a large-cap dividend payer. You may also notice that they are large companies that deal with electronics or finance. Although they may use the services of many other companies available for purchase on the stock market members of Congress look for a return. So, it may not be such a bad idea to turn to our Senators for some advice (where the stock market is concerned anyway).
What do you think about the stocks members of Congress own? Are you surprised by any of these?
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