Bank of America, Bank of New York Mellon And 2 Other Stocks Insiders Are Selling
Portfolio Pulse from Lisa Levin
Insiders at Bank of America, Gilead Sciences, Bank of New York Mellon, and UnitedHealth Group have recently sold significant amounts of shares. This could indicate concerns about the companies' prospects or that the insiders view the stocks as overpriced. However, insider sales should not be the sole indicator for investment decisions.
July 24, 2023 | 12:08 pm
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NEGATIVE IMPACT
Bank of America's President, Regional Banking Dean C Athanasia sold 77,806 shares at an average price of $31.49. The bank recently issued Q2 earnings beating consensus estimates.
Insider selling can indicate a lack of confidence in the company's future prospects. However, the bank's recent strong earnings report may mitigate this impact.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Bank of New York Mellon's SEVP & General Counsel Kevin McCarthy sold 35,000 shares at an average price of $46.33. The bank reported a Q2 total revenue increase of 5% YoY.
Insider selling can indicate a lack of confidence in the company's future prospects. However, the bank's recent strong earnings report may mitigate this impact.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Gilead Sciences' CFO Andrew D Dickinson sold 5,000 shares at an average price of $80.00. The FDA recently approved Gilead's supplemental new drug application for Veklury.
Insider selling can indicate a lack of confidence in the company's future prospects. However, the recent FDA approval for Veklury may mitigate this impact.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
UnitedHealth Group's Director, CEO, UHG Andrew Witty sold 4,000 shares at an average price of $506.19. The company reported nearly $5.5 billion, up 8% YoY in Q2 profits.
Insider selling can indicate a lack of confidence in the company's future prospects. However, the company's recent strong earnings report may mitigate this impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100