Alphabet And These 2 Healthcare Stocks Insiders Are Selling

The Nasdaq Composite dropped around 80 points on the first trading day of 2023. Investors, meanwhile, focused on some notable insider trades.

When insiders sell shares, it indicates their concern in the company’s prospects or that they view the stock as being overpriced. Either way, this signals an opportunity to go short on the stock. 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.

Alphabet

• The Trade: Alphabet Inc. GOOG Senior Vice President Prabhakar Raghavan sold a total of 22,203 shares at an average price of $89.75. The insider received around $1.99 million from selling those shares.
• What’s Happening: Alphabet Google told a tribunal in India that the country's antitrust investigators duplicated parts of a European ruling against the U.S. firm for abusing the market supremacy of its Android operating system.
• What Alphabet Does: Alphabet is a holding company. Internet media giant Google is a wholly owned subsidiary.

Read More: Investor Fear Increases Slightly As US Stocks Settle Lower On First Trading Session Of 2023

Abbott Laboratories

• The Trade: Abbott Laboratories ABT Senior Vice President Sammy Karam sold a total of 4,200 shares at an average price of $108.75. The insider received around $456.75 thousand as a result of the transaction.
• What’s Happening: Abbott, last month, increased its quarterly dividend by 8.5% from $0.47 to $0.51.
• What Abbott Laboratories Does: Abbott manufactures and markets medical devices, adult and pediatric nutritional products, diagnostic equipment and testing kits, and branded generic drugs.

Have a look at our premarket coverage here

United Therapeutics

• The Trade: United Therapeutics Corporation UTHR President and COO Michael Benkowitz sold a total of 10,000 shares at an average price of $219.65. The insider received around $2.2 million from selling those shares.
• What’s Happening: United Therapeutics, during November, reported better-than-expected Q3 results.
• What United Therapeutics Does: United Therapeutics specializes in drug development for pulmonary arterial hypertension, a rare and progressive disease marked by abnormally high blood pressure in the arteries of the lungs.