QUALCOMM, AIG And 2 Other Stocks Insiders Are Selling
Portfolio Pulse from Lisa Levin
Insiders at four major companies, namely Qualcomm, Amgen, Abercrombie & Fitch, and American International Group, have recently sold significant amounts of shares. While insider selling can sometimes indicate concerns about a company's prospects, it can also be part of a preplanned sale. Each of these companies has had recent notable events, such as earnings reports and sales results.
August 14, 2023 | 12:08 pm
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NEUTRAL IMPACT
AIG's VP & Chief Accounting Officer sold 7,757 shares at an average price of $61.30. The company recently posted upbeat quarterly earnings.
While the insider sale could be seen as a negative signal, the company's strong earnings report may help support the stock's price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Amgen's EVP of Global Commercial Ops sold 9,558 shares at an average price of $262.43. The company recently reported second-quarter sales of $6.99 billion, beating consensus estimates.
While insider selling could be a negative signal, the company's strong Q2 sales performance may offset any potential negative impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Abercrombie & Fitch's CEO sold 39,594 shares at an average price of $40.17. The company recently reported better-than-expected first-quarter sales results.
Despite the CEO's sale of shares, the company's strong Q1 sales performance may help maintain the stock's price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Qualcomm's Chief Commercial Officer sold 1,000 shares at an average price of $114.16. The company recently reported a third-quarter revenue miss and issued guidance below consensus estimates.
Insider selling, combined with a recent revenue miss and lower guidance, could negatively impact Qualcomm's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100