U.S. Rep. Marjorie Taylor Greene, a Republican from Georgia, is doggedly working toward rallying votes for the GOP on Election Day, but she's certainly not losing sight of her investments. Greene continues to make additions to her portfolio as she has steadfastly done over the past few months.
Consistent with her previous rounds of buying activity, Greene recently added to her artificial intelligence (AI) exposure, picking up shares of Applied Materials(NASDAQ: AMAT), ASML(NASDAQ: ASML), DellTechnologies(NYSE: DELL), LamResearch(NASDAQ: LRCX), and Meta Platforms(NASDAQ: META). But it wasn't only AI stocks that caught her attention. Greene also clicked the buy button on CostcoWholesale(NASDAQ: COST). Although the exact amounts that Greene invested in each of the stocks is not clear, her regulatory filing acknowledges that each transaction on Oct. 4 was valued between $1,001 and $15,000.
More of the same AI names -- at lower prices
Taking even a cursory glance at Greene's trading history, investors will find that the representative from the Peach State often builds positions over time, practicing a dollar-cost averaging approach. In July, for example, Greene bought shares of both semiconductor equipment manufacturer Applied Materials and Dell, a stalwart in building computers and data centers. On the day that 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 Oct. 4, Applied Materials closed at $201.97, while Dell ended the trading session at $120.42.
Similarly, Greene increased her position in semiconductor powerhouse ASML during her latest buying round. On June 24, when Greene first bought ASML stock, shares ended the day at $1,002.01, having climbed about 37% since the start of the year. The latest purchase, however, was considerably less expensive. Shares of the semiconductor equipment maker have suffered recently as analysts have espoused bearish stances of ASML stock. This helped Greene to lower her average price paid for the stock as 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 hanging on the discount rack
Not every repeat purchase for Greene during this latest buying round required a stock to be at a lower price. Initially, Greene gained exposure to Lam Research, which provides wafer fabrication equipment and services to semiconductor manufacturers, on Sept. 20, when shares closed at $77.32 (adjusted for the recent stock split). On Oct. 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, yet when she bought shares on Oct. 4, they ended the trading session at $883.11. While Greene paid more for Costco stock, many analysts believe that the stock has additional room to run. Oppenheimer and Evercore ISI, for example, have price targets of $980 and $990, respectively.
A new name added to the portfolio
In addition to growing established positions, Greene bought Meta stock for the first time earlier this month. Expanding Greene's AI exposure 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 contends "has profoundly impacted the advancement of state-of-the-art AI." Meta also offers content creators a valuable tool with its recently released generative AI product, Movie Gen.
Is now a good time to pick these stocks up for yourself?
For those of us outside the Beltway who are interested in AI stocks, all of Greene's recent purchases are compelling options that are well worth deeper investigation. Investors who are keen on finding stocks in the bargain bin will find ASML appealing right now as shares are trading at 31.4 times operating cash flow -- admittedly, a little pricey but a discount nonetheless 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, a former director of market development and spokeswoman for Facebook and sister to 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 has positions in and recommends ASML, Applied Materials, Costco Wholesale, Lam Research, Meta Platforms, and Nvidia. The Motley Fool has a disclosure policy.
