Top Insider Buys Highlight for the Week of Feb. 7
The largest insider buys this week were Intel Corp. (NASDAQ:INTC), AT&T Inc. (NYSE:T), Corteva Inc. (NYSE:CTVA) and Valley National Bancorp (NASDAQ:VLY).
Intel director bought 15,400 shares
Director Alyssa Henry bought 15,400 shares on Feb. 3 at the average price of $64.88. The price of the stock has increased by 1.76% since then.
Intel is the world's largest and highest valued semiconductor chip maker based on revenue. The company is also the inventor of the x86 series of microprocessors, the type of microprocessors found in most personal computers. The company has a market capitalization of $282.37 billion; as of Feb. 7, it traded at $66.02.
On Jan. 23, Intel reported fourth-quarter and full-year 2019 financial results. Revenue for the quarter was $20.2 billion, an increase of 8% year over year. Cash from operations for the entire year was $33.1 billion, while free cash flow was $16.9 billion. The company returned approximately $19.2 billion to shareholders over the course of the year. Earnings per share for the quarter were $1.58.
AT&T director bought 100,000 shares
Director Stephen J. Luczo bought 100,000 shares on Feb. 4 at the average price of $37.6. The share price has increased by 2.26% since then.
AT&T is a multinational telecommunications conglomerate that is the second-largest provider of mobile telephone services and the largest provider of fixed telephone services in the United States. It also provides broadband subscription television services through DirecTV. The company has a market capitalization of $275.69 billion; as of Feb. 7, it traded at $38.45.
On Jan. 29, AT&T reported fourth-quarter and full-year 2019 results. Diluted earnings per share for the quarter were 33 cents, compared to 66 cents in the prior-year quarter. Cash from adjusted earnings per share for the quarter was 89 cents, compared to 86 cents a year ago. Cash from operations for the year was $48.7 billion, an increase of 12%.
Corteva executive vice president and chief commercial officer bought 5,000 shares
Executive Vice President and Chief Commercial Officer Timothy P. Glenn bought 5,000 shares on Feb. 3 at the average price of $29.77. The stock has gained 4.27% since then.
Corteva is an American agricultural chemical and seed company. The company was the agricultural unit of DowDuPont prior to being spun off as an independent public company in June 2019. The company has a market capitalization of $23.24 billion; as of Feb. 7, it traded at $31.04.
On Jan. 30, Corteva reported fourth-quarter and full-year 2019 results. GAAP net sales for the year decreased 3% from last year to $13.8 billion, while GAAP earnings per share increased 100% to 2 cents. GAAP income from continuing operations for the year was $26 million.
Valley National Bancorp director bought 20,000 shares
Director Peter V. Maio bought 20,000 shares on Feb. 6 at the average price of $11.25. The stock has declined 2.58% since then.
Valley National Bancorp is an American bank holding company that operates 209 branches in 30 counties in northern and central New Jersey, Manhattan, Brooklyn, Queens, Long Island and Florida. The company has approximately $28 billion in assets, reflecting the recent acquisition of USAB. The company has a market capitalization of $4.42 billion; as of Feb. 7, it traded at $10.96.
On Jan. 30, Valley National Bancorp reported financial results for the fourth quarter of 2019. Net income for the quarter was $38.1 million, or 10 cents per diluted common share, compared to earnings of $77.1 million, or 22 cents per diluted common share, during the same period prior year. Effective on Dec. 1, the company also acquired Oritani Financial Corp.
For the complete list of stocks that were bought by their company executives, go to Insider Trades.
Disclosure: I do not own stock in any of the companies mentioned in the article.
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This article first appeared on GuruFocus.
