The largest Insider Buys this week were for AbbVie Inc. (ABBV, Financial), Bristol-Myers Squibb Company (BMY, Financial), General Motors Co. (GM, Financial) and Kinder Morgan Inc. (KMI, Financial).
AbbVie Inc (ABBV, Financial): Director Edward J. Rapp bought 4,000 shares
Director Edward J. Rapp bought 4,000 shares of AbbVie stock on July 31 at the average price of $70.45. The price of the stock has increased by 0.77% since.
AbbVie Inc. is an American international pharmaceutical company that focuses on discovering, developing, and marketing both biopharmaceuticals and small molecule drugs. The company was created in 2013 as a spin-off of Abbott Laboratories. The company has 30,000 employees as of 2016. The company has a market cap of $112.98 billion, and as of Aug. 4 it traded at $70.99.
On Aug. 3 AbbVie Inc. announced that it has received U.S. FDA approval of MAVYRET for the treatment of chronic hepatitis C in all major genotypes in as short as eight weeks. The drug is a new eight-week, pan-genotypic treatment for hepatitis C patients without cirrhosis and who are new to treatment. The FDA approval is supported by an overall 98% cure rate in patients who received the recommended duration of treatment.
Bristol-Myers Squibb Co. (BMY, Financial): Director Theodore R. Samuels II bought 6,000 shares
Director Theodore R. Samuels II bought 6,000 shares of Bristol-Myers Squibb stock on August 2 at the average price of $55.94. The price of the stock has increased by 0.02% since.
Bristol-Myers Squibb Co. is an American international pharmaceutical company that manufactures prescription pharmaceuticals in various therapeutic areas including cancer, cardiovascular diseases, diabetes, hepatitis and HIV. The current CEO of the company is Dr. Giovanni Caforio and the company had 25,000 employees as of December 2015. The company has a market cap of $91.75 billion, and as of Aug. 4 it traded at $55.95.
On Aug. 3 Bristol-Myers Squibb Company announced that it has signed a definitive agreement with IFM Therapeutics under which Bristol-Myers Squibb will acquire all the outstanding capital stock of the other company. IFM Therapeutics is venture-backed biotech company focused on developing therapies that modulate novel targets in the innate immune system to treat cancer and autoimmunity disorders.
General Motors Co. (GM, Financial): Director Thomas M. Schoewe bought 14,360 shares
Director Thomas M. Schoewe bought 14,360 shares of General Motors stock on Aug. 1 at the average price of $34.76. The price of the stock has increased by 1.47% since.
General Motors Co. is an American international manufacturer and distributor of vehicles and vehicle parts. The company manufactures cars and trucks in 35 countries, with brands including Buick, Cadillac, Chevrolet, GMC, Holden and Wuling. The company held the title of largest automobile manufacturer from 1931 through 2007. The company has a market cap of $51.4 billion, and as of Aug. 4 it traded at $35.27.
On Aug. 2 General Motors Co. announced the pricing of four series of senior unsecured notes for a total of $3.0 billion. These notes include $0.5 billion of floating rate notes due in 2020, $0.75 billion of 4.2% notes due 2027, $1 billion of 5.15% notes due in 2038, and $0.75 billion of 5.4% notes due in 2048. The offering is expected to settle on Aug. 7, 2017.
Kinder Morgan Inc. (KMI, Financial): Director William A. Smith bought 4,903 shares
Director William A. Smith bought 4,903 shares of Kinder Morgan stock on July 31 at the average price of $20.24. The price of the stock has decreased by 0.2% since.
Kinder Morgan Inc. is an American energy infrastructure company that specializes in owning and controlling oil and natural gas pipelines and terminals. Currently, the company is the largest energy infrastructure company in North America and operates approximately 84,000 miles of pipelines and owns about 180 terminals. The company has a market cap of $45.11 billion, and as of Aug. 4 it traded at $20.20.
On May 30 Kinder Morgan Canada Limited Inc., a subsidiary of Kinder Morgan Inc., announced the completion of the initial public offering of 102,942,000 restricted voting shares of the company at a price to the public of C$17.00 per share for total gross proceeds of approximately C$1.75 billion. The proceeds of the offering will be used by the company to indirectly acquire from Kinder Morgan an approximate 30% interest in a limited partnership that holds the Canadian business of Kinder Morgan.
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.
