U.S. Rep. Marjorie Taylor Greene, a Georgia Republican, is working doggedly to rally votes for the Republican Party on Election Day, but she’s certainly not losing sight of her investments. Greene continues to expand her portfolio, as she has done consistently in recent months.
In keeping with her previous buying rounds, Greene recently increased her exposure to artificial intelligence (AI) by acquiring shares of Applied materials (NASDAQ: AMAT), ASML (NASDAQ: ASML), Dell Technologies (NYSE: DELL), Lamb Research (NASDAQ:LRCX)And Metaplatforms (NASDAQ: META). But it wasn’t just AI stocks that caught her attention. Greene also clicked the buy button Costco Wholesale (NASDAQ: COST). While the exact amounts Greene invested in each of the stocks is unclear, her regulatory filing acknowledges that each Oct. 4 trade was valued between $1,001 and $15,000.
More of the same AI names – at lower prices
If investors take even a cursory glance at Greene’s trading history, they will find that the Peach State representative often builds positions over time using a dollar-cost averaging approach. In July, for example, Greene bought shares of both semiconductor equipment maker Applied Materials and Dell, a strong player in building computers and data centers. On the day Greene bought Applied Materials and Dell in July, they closed at $219.65 and $125.85 respectively, and it’s likely she lowered the average price she paid for them. On October 4, Applied Materials closed at $201.97, while Dell ended the trading session at $120.42.
Similarly, Greene increased her position in semiconductor giant ASML during her latest buying round. On June 24, when Greene first bought ASML shares, the shares ended the day at $1,002.01, having risen about 37% since the beginning of the year. However, the last purchase was significantly cheaper. The semiconductor equipment maker’s shares have suffered lately as analysts have taken a bearish stance on ASML shares. This helped Greene lower her average price paid for the stock when she picked up shares on a day when the stock ended the trading session at $833.
Greene isn’t afraid of stocks that aren’t on the discount rack
Not every repeat purchase for Greene during this latest round of buying required a stock to be at a lower price. Initially, Greene gained exposure to Lam Research, which provides wafer manufacturing equipment and services to semiconductor manufacturers, on September 20, when shares closed at $77.32 (adjusted for the recent stock split). On October 4, shares of Lam Research closed at $81.54.
Like Lam Research, Greene paid a higher price for Costco stock in October than when she first bought shares of the membership warehouse company. When Greene first invested in Costco on June 24, shares closed at $848.16, but when she bought shares on October 4, they ended the trading session at $883.11. While Greene paid more for Costco stock, many analysts believe the stock has additional room to run. Oppenheimer And Evercore For example, ISI has price targets of $980 and $990, respectively.
A new name added to the portfolio
In addition to adding to established positions, Greene bought Meta shares for the first time earlier this month. Meta expands Greene’s AI exposure beyond semiconductor stocks and is at the forefront of AI with its diverse offerings, such as its large language model Llama, which Nvidia CEO Jensen Huang states that “has had a profound impact on the advancement of cutting-edge AI.” Meta also provides content creators with a valuable tool with its recently released generative AI product Movie Gen.
Is this a good time to pick up these shares for yourself?
For those of us outside the Beltway interested in AI stocks, all of Greene’s recent purchases are attractive options that are certainly worth investigating further. Investors keen to find stocks in the bargain bin will find ASML attractive at the moment, as shares trade at 31.4 times operating cash flow – admittedly a bit pricey, but still a discount considering their five-year average cash flow multiple of 38. 2.
On the other hand, investors looking to generate passive income from their AI investments will want to consider Lam Research and Dell, which offer forward yields of 1.2% and 1.4% respectively.
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Randi Zuckerberg, former director of market development and spokeswoman for Facebook and sister of Mark Zuckerberg, CEO of Meta Platforms, is a member of The Motley Fool’s board of directors. Scott Levine has no position in any of the stocks mentioned. The Motley Fool holds positions in and recommends ASML, Applied Materials, Costco Wholesale, Lam Research, Meta Platforms, and Nvidia. The Motley Fool has a disclosure policy.
Marjorie Taylor Greene continues her stock buying bonanza; Here are 6 stocks she just bought, originally published by The Motley Fool
