As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At Abbott Laboratories (NYSE:ABT), a filing with the SEC revealed that on Monday, CEO Miles D. White purchased 17,933 shares of ABT, at a cost of $43.34 each, for a total investment of $777,162. White was up about 4.2% on the purchase at the high point of today's trading session, with ABT trading as high as $45.16 at last check today. Abbott Laboratories is trading up about 2.1% on the day Thursday. Before this latest buy, White bought ABT on 4 other occasions during the past year, for a total investment of $30.85M at an average of $43.23 per share.
And also on Monday, President (subsidiary) Mark D. Moore purchased $71,229 worth of Access National Corp (ANCX), purchasing 3,287 shares at a cost of $21.67 each. Before this latest buy, Moore made one other buy in the past year, purchasing $7,780 shares at a cost of $19.45 each. Access National Corp is trading up about 0.3% on the day Thursday. So far Moore is in the green, up about 3.2% on their purchase based on today's trading high of $22.37.
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