Texas Congressman Lloyd Doggett Is Buying These Stocks
U.S. Rep. Lloyd Doggett, who is representing Texas’s 35th congressional district, disclosed today he bought shares of 5 companies in September and early October.
Congressman Doggett was buying between $1,000 and $15,000 worth of shares of PPG Industries (PPG: US), Johnson & Johnson (JNJ: US), International Business Machines Corp (IBM: US), and Home Depot Inc (HD: US) in September.
Given that Rep. Doggett only reported this week about trades he made in September, he was late in reporting for each of these transactions. Additionally, the Congressman bought $1,000 - $15,000 worth of Coca-Cola (KO: US) shares on October 03 when the closing price was $56.65, with shares now trading almost 5% higher.
The Congressman, who sits on the House committees for Budget and Ways & Means, is a regular buyer of U.S. equities. In August, he disclosed the purchase of Procter & Gamble (PG: US) shares.
Coca-cola, Home Depot, IBM, and PPG are the most traded stocks by Rep. Doggett recently. He most often trades in the Consumer Staples sector, followed by Consumer Discretionary, Tech, and Materials.
It could be that Congressman is using DCA (dollar cost averaging), a popular investing approach. In recent years, Mr. Doggett had been constantly buying U.S. equities in small sizes. No sell trades were recorded in the last 3 years on his side. This approach was followed even during the pandemic when the stock market collapsed.
