QUALCOMM, AIG And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed lower on Friday. Investors, meanwhile, focused on some notable insider trades.

When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company’s prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.

Below is a look at a few recent notable insider sales. For more, check out Benzinga's insider transactions platform.

Amgen

• The Trade: Amgen Inc. AMGN EVP, Global Commercial Ops Murdo Gordon sold a total of 9,558 shares at an average price of $262.43. The insider received around $2.51 million from selling those shares.
• What’s Happening: Amgen Inc reported second-quarter sales of $6.99 billion, up 7% Y/Y, beating the consensus of $6.63 billion.
• What Amgen Does: Amgen is a leader in biotechnology-based human therapeutics, with historical expertise in renal disease and cancer supportive-care products.

Have a look at our premarket coverage here

QUALCOMM

• The Trade: QUALCOMM Incorporated QCOM Chief Commercial Officer James J Cathey sold a total of 1,000 shares at an average price of $114.16. The insider received around $ $114,160 from selling those shares.
• What’s Happening: Qualcomm reported a third-quarter revenue miss and issued guidance with a midpoint below consensus estimates.
• What QUALCOMM Does: Qualcomm develops and licenses wireless technology and designs chips for smartphones.

Abercrombie & Fitch

• The Trade: Abercrombie & Fitch Co. ANF CEO Fran Horowitz sold a total of 39,594 shares at an average price of $40.17. The insider received around $1.59 million from selling those shares.
• What’s Happening: Abercrombie & Fitch reported better-than-expected first-quarter sales results.
• What Abercrombie & Fitch Does: Abercrombie & Fitch Co is a specialty retailer that sells casual clothing, personal-care products, and accessories for men, women, and children.

American International Group

• The Trade: American International Group, Inc. AIG VP & Chief Accounting Officer Kathleen Carbone sold a total of 7,757 shares at an average price of $61.30. The insider received around $475,504 from selling those shares.
• What’s Happening: AIG posted upbeat quarterly earnings.
• What American International Group Does: American International Group is one of the largest insurance and financial services firms in the world and has a global footprint.

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