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Alban Carlos: insider trades

Officer at 2 companies we cover. No open-market purchases and 21 sales not made under a pre-set plan, reported from February 12, 2010 to November 18, 2020.

What happened after Alban Carlos’s sales?

After their sales, the shares moved −4.5% against the index over 12 months on average (a negative figure means selling was the right call); 62% trailed it.

With 296 insiders tested, some will look skilled or unskilled by chance alone: when we replaced each insider’s stocks with random companies bought on the same days, about 5.7 cleared the bar ahead and 23.3 behind. One record on its own proves little.

Trade by trade

MeasuredTrades countedAverage vs S&P 500MedianWent the right wayYearst-statisticp-valueEvidence
Purchases, 3 months after the report 0 — — — — — — Not enough years
Purchases, 6 months after the report 0 — — — — — — Not enough years
Purchases, 12 months after the report 0 — — — — — — Not enough years
Purchases, 12 months after the trade 0 — — — — — — Not enough years
Sales, 3 months after the report 21 −1.3% −3.4% 62% 9 −0.63 0.55 No reliable evidence
Sales, 12 months after the report 21 −4.5% −9.2% 62% 9 −0.68 0.51 No reliable evidence
Sales, 12 months after the trade 21 −4.5% −7.2% 62% 9 −0.67 0.52 No reliable evidence

“Average vs S&P 500” is the stock’s return including dividends minus the index’s over the same dates, from the close on the first trading day after the report, or from the close on the trade date. Only windows that have finished are counted. For sales, a negative figure means the stock lagged after it was sold, so selling was the right call (green). “Went the right way” is the share of purchases that beat the index, or of sales that trailed it. The t-statistic uses one average per year of reports, because one person’s trades bunch into the same stock and weeks, and needs trades in at least four different years; the p-value comes from the t distribution with that number of years (with four years, a t of 2 has p = 0.14). “Some evidence” means p under 5%, “strong evidence” p under 1% over at least six years.

Companies traded

CompanyTitle on the latest filingPurchasesSalesFirst reportLatest report
Abbott Laboratories ABT Senior Vice President013February 12, 2010September 27, 2012
AbbVie ABBV Vice Chairman08May 3, 2013November 18, 2020

Trades and what followed

Moves are against the S&P 500; green means the trade went the insider’s way.

ReportedTradedCompanyTradeValue3 months after report12 months after report12 months after trade
November 18, 2020November 16, 2020 ABBV Sale $11,583,000 −0.9%−10.7%−7.2%
July 8, 2020July 7, 2020 ABBV Sale $5,332,500 −18.8%−15.5%−17.1%
March 2, 2018February 28, 2018 ABBV Sale $9,568,557 −14.8%−33.3%−33.0%
June 15, 2017June 14, 2017 ABBV Sale $3,206,000 +20.9%+27.2%+28.5%
May 8, 2017May 4, 2017 ABBV Sale $2,881,000 +5.2%+43.4%+40.5%
May 12, 2016May 10, 2016 ABBV Sale $3,013,262 +2.1%−8.1%−9.9%
March 4, 2014March 3, 2014 ABBV Sale $144,359 +3.2%−0.8%+6.5%
May 3, 2013May 1, 2013 ABBV Sale $5,191,260 −4.9%+0.5%−4.1%
September 27, 2012September 25, 2012 ABT Sale $83,860 −4.0%−15.0%−18.6%
September 21, 2012September 20, 2012 ABT Sale $133,780 −3.9%−16.3%−14.2%
September 17, 2012September 13, 2012 ABT Sale $91,506 −3.4%−10.8%−12.0%
August 1, 2012July 30, 2012 ABT Sale $23,450 −5.5%−11.4%−8.3%
July 30, 2012July 27, 2012 ABT Sale $2,915,943 −3.7%−9.2%−7.1%
March 22, 2012March 20, 2012 ABT Sale $49,621 +8.0%+8.5%+6.3%
March 2, 2012February 29, 2012 ABT Sale $68,279 +11.9%+13.1%+15.8%
December 23, 2011December 21, 2011 ABT Sale $263,285 −1.9%+5.2%+4.8%
March 2, 2011February 28, 2011 ABT Sale $455,606 +7.9%+18.0%+17.5%
February 3, 2011February 1, 2011 ABT Sale $131,283 +12.2%+19.9%+20.9%
March 2, 2010March 1, 2010 ABT Sale $721,827 −10.1%−27.8%−29.6%
February 18, 2010February 16, 2010 ABT Sale $64,728 −11.0%−34.9%−36.7%
February 12, 2010February 10, 2010 ABT Sale $95,388 −14.8%−36.7%−37.5%

Open-market purchases and sales of at least $10,000 in companies we cover, from SEC Form 4 filings; sales made under a pre-set Rule 10b5-1 plan are not shown. “Not yet” means the window has not finished or the share price was under $5 at entry. These are the shares’ moves after each trade: they say nothing about why Alban Carlos traded and do not suggest the use of non-public information. How every insider compares · the insider trading backtest.