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Weekly Top Insider Buys: Abbot Laboratories, Time Warner Inc., MetLife Inc., Corning Inc., and Symantec Corp.

August 07, 2010 | About:
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gururk

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Weekly highlight of top insider buys: Abbot Laboratories (ABT), Time Warner Inc. (TWX), MetLife Inc. (MET), Corning Inc. (GLW), and Symantec Corp. (SYMT).

Director of Abbott Laboratories, William A Osborn, bought 6,000 shares during the past week at an average price of $50.57.

Abbott Laboratories is a global, broad-based health care company devoted to discovering new medicines, new technologies and new ways to manage health. Abbott Laboratories has a market cap of $78.06 billion; its shares were traded at around $50.57 with a P/E ratio of 12.7 and P/S ratio of 2.5. The dividend yield of Abbott Laboratories stocks is 3.5%. Abbott Laboratories had an annual average earning growth of 7.3% over the past 10 years. GuruFocus rated Abbott Laboratories the business predictability rank of 4.5-star.

Abbot Laboratories recently reported results for the second quarter of 2010. Diluted earnings per share, excluding specified items, were $1.01, reflecting 13.5 percent growth, exceeding Abbott's previously issued guidance range of $0.98 to $1.00. Diluted earnings per share under Generally Accepted Accounting Principles (GAAP) were $0.83. Worldwide sales increased 17.8 percent to $8.8 billion, including a favorable 2.7 percent effect of exchange rates. Worldwide pharmaceutical sales increased 24.5 percent,including a favorable 2.8 percent effect of exchange rates and a full quarter of sales contribution from the Solvay Pharmaceuticals acquisition.

Abbott Laboratories is owned by eight Gurus: John Hussman, Tom Gayner, Edward Owens, Robert Bruce, Ronald Muhlenkamp, Dodge & Cox, George Soros, and Kenneth Fisher.

Last week, Buy: Director William A Osborn bought shares of ABT stock.Sell: Vice President Greg W Linder, Sell: Executive Vice President Thomas C Freyman, and Sell: Senior Vice President Brian J Blaser sold share last month; Sell: Senior Vice President Robert B Hance sold 15,000 shares in June. Sell: Chairman and CEO Miles D White sold 29,300 shares in February.

Time Warner Inc. (TWX): Director William P Barr Bought 3,050 Shares

Director of Time Warner Inc., William P Barr, bought 3,050 shares on 8/06/10 at an average price of $32.36.

Time Warner Inc. is the world's media and entertainment company, whose businesses include filmed entertainment, interactive services, television networks, cable systems, publishing and music. Time Warner Inc New has a market cap of $36.88 billion; its shares were traded at around $32.36 with a P/E ratio of 14.6 and P/S ratio of 1.4. The dividend yield of Time Warner Inc New stocks is 2.6%.

On August 4, Time Warner Inc. reported results for the second quarter of 2010. In the quarter, revenues grew 8% from the same period in 2009 to $6.4 billion, reflecting increases at the Networks and Filmed Entertainment segments. Adjusted operating income rose 15% to $1.2 billion, due to growth at the Networks and Publishing segments. Adjusted operating income margins reached 19% versus 18% in last year’s second quarter. Operating income increased 19% to $1.2 billion, while operating income margins were 19% compared to 17% in the prior year quarter.

Time Warner Inc. is in the portfolios of George Soros, Mark Hillman, Kenneth Fisher, James Barrow, Brian Rogers, Dodge & Cox, Bill Nygren, and Jean-Marie Evillard.

Last week, Buy: Director William P Barr bought 3,050 shares of TWX stock. Buy: Director Fred Hassan bought 34,000 shares in March. Sell: Executive Vice President Olaf Olafsson sold 242 shares in June, and Sell: EVP and General Counsel Paul T Cappuccio sold 33,559 shares in May. Sell: Chairman of the Board and CEO Jeffrey L Bewkes and Sell: EVP & CFO John K Martin sold shares in March.


MetLife Inc. (MET): Director Robert Glenn Hubbard Bought 2,500 Shares

Director of MetLife Inc., Robert Glenn Hubbard, bought 2,500 shares on 8/04/10 at an average price of $41.42.

Metlife Inc. is a provider of insurance and financial services to a broad spectrum of individual and institutional customers. Metlife Inc. has a market cap of $33.97 billion; its shares were traded at around $41.42 with a P/E ratio of 10.1 and P/S ratio of 0.9. The dividend yield of Metlife Inc. stocks is 1.7%.

On July 29, MetLife, Inc. reported second quarter 2010 net income1 of $1.5 billion, or $1.84 per share. Net income reflects net investment gains of $767 million, after tax, including gains on derivatives. Operating earnings2 for the second quarter of 2010 were $1.0 billion, or $1.23 per share.

MetLife Inc. is in the portfolios of eight Gurus: Andreas Halvorsen, Hotchkis & Wiley, John Keeley, NWQ Managers, David Williams, Richard Snow, David Dreman, and Richard Pzena.


Last week, Buy: Director Robert Glenn Hubbard bought 2,500 shares of MET stock. Buy: Director Wright Eduardo Castro bought 4,890 shares in May. Sell: President, U.S. Business William J Mullaney sold 850 shares last week.


Corning Inc. (GLW): Director John A Jr Canning Bought 20,000 Shares

Director of Corning Inc., John A Jr Canning, bought 20,000 shares on 08/05/2010 at an average price of $18.8.

Corning Incorporated creates leading-edge technologies for the fastest-growing markets of the world's economy. Corning Inc. has a market cap of $29.34 billion; its shares were traded at around $18.8 with a P/E ratio of 9.6 and P/S ratio of 5.5. The dividend yield of Corning Inc. stocks is 1%. Corning Inc. had an annual average earning growth of 4.9% over the past 5 years.

In July 2010, Corning Inc. reported results for the second quarter of 2010. Sales were $1.71 billion, an increase of 10% sequentially and 23% year over year. Earnings per share were $0.58, a gain of 12% sequentially and 49% over a year ago. Display Technologies’ wholly owned business volume increased more than 10% sequentially and more than 25% year over year. Samsung Corning Precision Materials Co., Ltd. volume was up more than 5% on a quarterly basis and more than 15% year over year.

Corning Inc. is owned by eleven Gurus: James Barrow, David Dreman, Lee Ainslie, David Williams, Mark Hillman, George Soros, Dodge & Cox, PRIMECAP Management, Ronald Muhlenkamp, and Kenneth Fisher.

Last week, Buy: Director John A Jr Canning bought 20,000 shares of GLW stock. Sell: Chairman & CEO Wendell P Weeks and Sell: VICE CHAIRMAN & CFO James B Flaws sold shares last week. In May, Sell: President & COO Peter F Volanakis, Sell: SVP Vincent P Hatton, Sell: EXECUTIVE VICE PRESIDENT Joseph A Miller sold shares.

Symantec Corp. (SYMC): Director Michael Aca Brown Bought 40,000 Shares

Director of Symantec Corp., Michael Aca Brown, bought 40,000 shares during the past week at an average price of $13.04.

Symantec, a world leader in Internet security technology, provides a broad range of content security solutions to individuals and companies. Symantec Corp. has a market cap of $10.42 billion; its shares were traded at around $13.04 with a P/E ratio of 9.7 and P/S ratio of 1.8. Symantec Corp. had an annual average earning growth of 16% over the past 10 years. GuruFocus rated Symantec Corp. the business predictability rank of 3.5-star.

On July 28, Symantec Corp. reported the results of its first quarter of fiscal year 2011, ended July 2, 2010. GAAP revenue for the fiscal first quarter was $1.433 billion, flat versus the comparable period a year ago and up 2 percent after adjusting for currency. GAAP operating margin for the first quarter of fiscal year 2011 was 13.5 percent. GAAP net income for the fiscal first quarter was $161 million compared with net income of $74 million for the same quarter last year. GAAP diluted earnings per share were $0.20 compared with $0.09 for the same quarter last year.

Symantec Corp. is owned by eight Gurus: George Soros, Jean-Marie Eveillard, Dodge & Cox, PRIMECAP, David Dreman, Mason Hawkins, and Hotchkis & Wiley.

Last week, Buy: Director Michael Aca Brown bought 20,000 shares of SYMC stock. Sell: Director John Wendell Thompson and Sell: Group Pres., IT & Serv. Group John David Thompson sold shares in July. Buy: President & CEO Enrique T Salem bought 20,000 shares in June, and Sell: EVP and CFO James A Beer sold 2,175 shares in June.

For the complete list of stocks that bought by their company executives, go to: Insider Buys.

  • CEO Buys, CFO Buys: Stocks that are bought by their CEO/CFOs.
  • Insider Cluster Buys: Stocks that multiple company officers and directors have bought.
  • Double Buys:: Companies that both Gurus and Insiders are buying
  • Triple Buys: Companies that both Gurus and Insiders are buying, and Company is buying back.

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