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.
On Friday, AT&T (NYSE:T)'s John Donovan, made a $998,838 purchase of T, buying 27,997 shares at a cost of $35.68 a piece. So far Donovan is in the green, up about 1.9% on their buy based on today's trading high of $36.34. AT&T Inc is trading down about 0.9% on the day Tuesday. This purchase marks the first one filed by Donovan in the past twelve months.
And on Monday, Director Ronald Sargent bought $503,820 worth of Wells Fargo & Co. (NYSE:WFC), buying 9,000 shares at a cost of $55.98 a piece. Before this latest buy, Sargent made one other purchase in the past year, buying $499,108 shares at a cost of $55.15 a piece. Wells Fargo & Co. is trading up about 0.4% on the day Tuesday.
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