U.S. Rep. Marjorie Taylor Greene, R-Ga., 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 add to his portfolio as he has consistently done over the past few months.
Consistent with its previous rounds of buying activity, Greene recently increased its exposure to artificial intelligence (AI), acquiring shares of Applied materials (NASDAQ: AMAT), ASML (NASDAQ: ASML), Dell Technologies (NYSE: DELL), Justice Investigation (NASDAQ: LRCX)and Metaplatforms (NASDAQ: META). But it wasn’t just AI’s actions that caught his attention. Greene also clicked the buy button at costco Wholesale (NASDAQ: COST). Although the exact amounts Greene invested in each of the stocks are unclear, his regulatory filing acknowledges that each Oct. 4 transaction was valued between $1,001 and $15,000.
More of the same AI names, at lower prices
Taking a cursory look at Greene’s trading history, investors will discover that the Peach State representative often builds positions over time, practicing a dollar-cost averaging approach. In July, for example, Greene bought shares in semiconductor equipment maker Applied Materials and Dell, a stalwart in computer and data center construction. The day Greene bought Applied Materials and Dell in July, they closed at $219.65 and $125.85, respectively, and he likely lowered the average price he paid for them. On October 4, Applied Materials closed at $201.97, while Dell ended the trading session at $120.42.
Similarly, Greene increased his position in semiconductor powerhouse ASML during his latest round of purchases. On June 24, when Greene first purchased ASML shares, the stock ended the day at $1,002.01, having risen approximately 37% since the beginning of the year. However, the last purchase was considerably cheaper. Shares of the semiconductor equipment maker have suffered recently as analysts have taken bearish stances on ASML stock. This helped Greene reduce the average price paid for the stock, as he bought 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 shelf
Not all of Greene’s repeat purchases during this latest round of purchases required the stock to be priced lower. Greene initially 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, Lam Research shares closed at $81.54.
Like Lam Research, Greene paid a higher price for Costco shares in October than when he first bought shares of the membership storage company. When Greene first invested in Costco on June 24, the shares closed at $848.16, but when he 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 ISI, for example, has price targets of $980 and $990, respectively.
A new name added to the portfolio.
In addition to adding to established positions, Greene bought shares of Meta for the first time earlier this month. Expanding Greene’s exposure to AI beyond semiconductor stocks, Meta is at the forefront of AI due to its diverse offerings, such as its large language model, Llama, which NVIDIA CEO Jensen Huang maintains that it “has had a profound impact on the advancement of next-generation AI.” Meta also offers content creators a valuable tool with its recently launched generative AI product, Movie Gen.
Is now a good time to buy these stocks yourself?
For those of us outside the Beltway who are interested in AI stocks, all of Greene’s recent purchases are compelling picks well worth further investigation. Investors who are interested in finding stocks in the bargain basket will find ASML attractive right now, as the stock trades at 31.4 times operating cash flow; True, a little pricey, but still a discount considering its 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 spokesperson for Facebook and sister of Meta Platforms CEO Mark Zuckerberg, 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 ranks 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 You Just Bought was originally published by The Motley Fool