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Congressman Doggett buys Home Depot, IBM, J&J, and PPG Industries stock

EditorFrank DeMatteo
Published 04/10/2024, 03:05 PM

Representative Lloyd Doggett from Texas's 37th congressional district has made several new investments, according to a recent congressional trade report. The congressman bought new shares in Home Depot , Inc. (NYSE:HD), International Business Machines Corporation (NYSE:NYSE:IBM), Johnson & Johnson (NYSE:JNJ), and PPG Industries, Inc. (NYSE:NYSE:PPG).

Doggett purchased shares in Home Depot on March 21, 2024, with the investment valued between $1,001 and $15,000. The transaction was described as a reinvestment of shares.

On March 11, 2024, Doggett also purchased shares in International Business Machines Corporation. The investment in IBM was also valued between $1,001 and $15,000 and was categorized as a reinvestment of shares.

Another addition to Doggett's portfolio was Johnson & Johnson. The congressman bought shares in the company on March 5, 2024, with the investment amount falling within the same range of $1,001 to $15,000. The transaction was also described as a reinvestment of shares.

Finally, Doggett purchased shares in PPG Industries, Inc. on March 12, 2024. The investment in PPG was valued between $1,001 and $15,000, and was also listed as a reinvestment of shares.

All transactions were reported on April 9, 2024. The investments were made in the form of stocks, which are publicly traded on the New York Stock Exchange. The congressman's recent activity highlights a focus on reinvestment in major corporations across a range of industries.

The congressional trade report did not disclose the type of account Doggett used for these transactions. The congressman has certified that all transactions were disclosed as required by the STOCK Act.

InvestingPro Insights

As Representative Lloyd Doggett diversifies his portfolio with notable additions such as Home Depot (NYSE:HD), investors might find the following insights from InvestingPro particularly illuminating. Home Depot, a leading company in the Specialty Retail industry, has been a robust investment over the years, as evidenced by its long history of dividend reliability and growth. The company has consistently raised its dividend for 14 consecutive years and has maintained dividend payments for an impressive 38 consecutive years, reflecting its strong financial health and commitment to shareholder returns.

The stability of Home Depot's stock is further underscored by its low price volatility, which suggests that the equity is less susceptible to wide price swings in market turbulence compared to its peers. This characteristic might be appealing for investors like Doggett who are looking for steady performers in their portfolios.

From a financial standpoint, Home Depot boasts a substantial market capitalization of $346.47 billion, indicating its significant presence in the market. The company's P/E ratio stands at 23.07, with a slight adjustment to 22.85 when looking at the last twelve months as of Q4 2024. Although the company has experienced a revenue downturn with a -3.01% change over the last twelve months as of Q4 2024, its sizable gross profit margin of 33.38% during the same period demonstrates the company's ability to maintain profitability.

For investors seeking additional insights and analysis, there are 9 more InvestingPro Tips available for Home Depot, which can be accessed through the dedicated page for the company at InvestingPro. Utilize the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, adding even more value to your investment research.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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