After buying a variety of stocks in June, Representative Marjorie Taylor Greene, a Republican from Georgia, did so again in July. The Peach State representative, who sits on the Oversight and Reform Committee and the Homeland Security Committee, has added six more stocks to her portfolio, according to a recently filed regulatory filing.
Beyond Tech Stocks Applied Materials (NASDAQ: AMAT), Corning (NYSE:GLW)and Dell (NYSE:DELL)Greene acquired utility shares Duke Energy (NYSE:DUK)banking power JPMorgan Chase (NYSE:JPM)and logistics leader United Installment Service (NYSE:UPS). Although the exact value of each transaction was not disclosed, all six trades were valued between $1,001 and $15,000.
Let’s take a look at Marjorie Taylor Greene’s most recent acquisitions
Consistent with your purchases on first half of the year, Greene showed great interest in stocks that had exposure to artificial intelligence (IA). On July 23, it increased its exposure to AI by purchasing shares in Applied Materials, Corning and Dell. Applied Materials, for example, develops and manufactures systems that companies need to produce semiconductors, including those that are designed specifically for AI applications. This business represents the majority of the company’s sales – around 74% of total revenue in the second quarter of 2024.
Like Applied Materials, Corning is a specialty materials company benefiting from the AI boom. Management attributed the company’s unexpected strong results in the second quarter of 2024 to “strong adoption of our new optical connectivity products for generative AI, which drove record sales in the enterprise portion of our optical communications business.” From storage solutions to servers and laptops, Dell has a variety of products that incorporate AI. Regarding Q1 2025 performance, Jeff Clarke, Chief Operating Officer at Dell, stated: “Servers and networking achieved record revenue in Q1, with our AI-optimized server orders increasing sequentially to $2.6 billion, remittances increased by more than 100%, to US$1.7 billion, and backlog growing by more than 30%, to US$3.8 billion.”
We may not be sure why Greene chose electric and natural gas utility Duke Energy for his portfolio, but the likely answer is the company’s generous dividend, which currently represents an attractive 3.7% forward dividend yield. Investors often choose utility stocks for their consistent – and safe – dividends, and Duke Energy is no different. The company has a long-standing commitment to rewarding investors, paying quarterly dividends for the past 98 years. Over the past 10 years, the company has increased its payout at a compound annual growth rate (CAGR) of 2.8%. Management is targeting a payout ratio of 60% to 70% of adjusted earnings per share.
Gaining exposure to one of the financial sector’s top stocks, Greene clicked the buy button on JPMorgan Chase. The largest commercial bank in the United States, JPMorgan Chase is a popular choice among top institutional investors. Another stock to boost your passive income stream, JPMorgan Chase has a forward dividend yield of 2.3% and has averaged a conservative payout ratio of 31% over the past 10 years – a period during which the company achieved impressive growth on a large scale. From 2005 to 2023, JPMorgan Chase has increased its tangible book value at 10% CAGR.
Lastly, Greene added UPS stock to his portfolio. The logistics stalwart significantly underperformed the market last year, so it’s possible Greene saw an opportunity to acquire safer, high-yielding dividend stocks at a low cost. Providing an attractive future yield of 5.1%, UPS is not putting its financial health at risk, as the company has averaged a low payout ratio of 66% over the past five years. It further illustrates its commitment to rewarding shareholders that management is targeting share repurchases of around $500 million in 2024.
Is now the time to buy the same shares as Greene?
Smart investors may recognize that monitoring politicians’ stock picks is a smart strategy. But they will also tell you that rushing to imitate them is far from wise. Instead – as always – perform your own due diligence.
However, when it comes to Greene’s recent purchases, those keeping an eye on AI stocks would be smart to put Applied Materials, Corning, and Dell on their radars. But they are not the same as semiconductor manufacturers (the typical stocks that dominate AI conversations), so further examination is naturally warranted.
As for the other stocks Greene selected – Duke Energy, JPMorgan Chase and UPS – they are all valid considerations, as they are all industry leaders that offer excellent opportunities to strengthen your passive income.
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JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. Scott Levine has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Applied Materials and JPMorgan Chase. The Motley Fool recommends Corning, Duke Energy and United Parcel Service. The motley fool has a disclosure policy.
Marjorie Taylor Greene Just Loaded Up Stocks: 6 She Just Bought was originally published by The Motley Fool
