Marjorie Taylor Greene just loaded up on stocks: 6 companies she just bought

Like the temperature throughout August, the stock-buying activity of Rep. Marjorie Taylor Greene, a Republican from Georgia, has remained warm in recent weeks. According to a recent regulatory filing, Greene, who sits on the House Oversight and Reform Committee and the Homeland Security Committee, added shares of six stocks to his portfolio.

In this round of stock purchases, Greene increased its exposure to artificial intelligence (AI) stocks, picking up shares of Alphabet (GOOGL -1.11%) (GOOG -1.13%), Amazon (AMZN -1.34%), Intel (INTC -2.29%)and Nvidia (NVDA -2.10%). Greene also picked up shares of the logistics leader FedEx (FDX 0.42%) and pipeline operator Kinder Morgan (KMI -0.28%). It is not certain how much Greene invested in each of the stocks, although each transaction was valued between $1,001 and $15,000.

State Representative Persici’s interest in AI stocks remains strong

In the first half of 2024, Greene added a variety of AI stocks to her holdings, and her enthusiasm for the fast-growing industry has hardly waned. While we don’t know exactly why Greene clicked the buy button on Alphabet, he may be sensing a deal. In the one-month period leading up to her acquisition, Alphabet shares fell nearly 7%. Addressing the benefit that AI has brought to the company’s finances, Sundar Pichai, CEO of Alphabet, said on the Q2 2024 conference call: “To date, our AI infrastructure and generative AI solutions for cloud customers have already generating billions in revenue and being used by over 2 million developers.”

Greene’s investment in Amazon gives him another level of exposure to AI. The company is seeing strong growth in its Amazon Web Services (AWS) business as customers turn to it for help with heavy computing demands arising from generative AI. In the first half of 2024, AWS revenue and operating income grew 18% and 79%, respectively. Amazon has exposure to AI in a variety of other ways, including its $4 billion investment in Anthropic.

Adding to her positions in semiconductor stocks such as Qualcomm and ASMLGreene bought shares of Intel and Nvidia, expanding his exposure to AI. As with Alphabet, Greene may have sensed, with Intel, an opportunity to pick up a prominent AI stock while it was in the bargain bin. For the month before its acquisition, Intel shares fell about 35%. In addition to reporting disappointing financial results for Q2 2024, Intel announced that it is suspending its dividend to the chagrin of investors.

The Nvidia stock complements Greene’s AI stock purchases. Semiconductor acumen continues to dominate the AI ​​scene, and it’s little surprise that Greene picked up the stock given her enthusiasm for other AI names. In addition to solid financial health, Nvidia has huge growth prospects, making it an obvious consideration for both conservative and growth investors who are interested in artificial intelligence.

No stranger to logistics leaders, Greene bought stock in FedEx following its acquisition United Parcel Service stock at the beginning of this month. Reporting fiscal 2024 financial results in June, FedEx grew both revenue and adjusted EPS by about 1% and 9.5%, respectively, compared to fiscal 2023. The company projects single-digit growth from the mid to mid-year revenue in fiscal 2025 and adjusted EPS growth. from 12% to 24%. Plus, the stock’s 1.9% forward dividend yield certainly doesn’t hurt.

Perhaps interested in generating more prodigious passive income, Greene added to her position in Kinder Morgan, the largest energy infrastructure stock in S&P 500. Operating approximately 66,000 miles of natural gas pipelines and approximately 9,500 miles of refined products and crude oil pipelines across the United States, Kinder Morgan is a leading energy stock that is dedicated to rewarding shareholders. Kinder Morgan stock currently offers a forward dividend yield of about 5.4%.

Should I buy these stocks?

While politicians’ stock picks are worth noting, smart investors know it’s unwise to blindly follow their purchases. Instead, it is more prudent to conduct your own due diligence and thoroughly investigate potential stock picks.

Alphabet, Amazon and Nvidia, for example, are all compelling investment opportunities in AI. Intel, on the other hand, may look interesting to those with long-term investment horizons who can wait for the company to implement its cost-cutting initiatives, but not as attractive to conservative investors looking to reduce risk.

For investors looking to diversify their passive income streams, both FedEx and Kinder Morgan are both excellent options that provide exposure to the logistics and energy industries, respectively.