AT&T Inventory Tumbled, and Director Stephen Luczo Scooped Up Shares
Textual content dimension
inventory tumbled after the communications big introduced that it was restructuring, and director Stephen Luczo purchased a big block of shares.
AT&T (ticker: T) stated earlier this month that it was planning to mix its media property—together with HBO, Turner, and Warner Brothers—with
(DISCA) in a brand new, publicly traded firm. One a part of the announcement that caught many AT&T buyers off-guard was that the corporate could be chopping its dividend, solely a number of weeks after committing to the payout.
Luczo paid $3 million on Might 18, the day after the announcement, for 100,000 AT&T shares, a per share common worth of $29.80. He made the acquisition by means of a belief, in keeping with a type that he filed with the Securities and Change Fee. Luczo now owns 400,000 AT&T shares by means of trusts. Luczo, a former
Seagate Expertise Holdings
(STX) chairman and CEO, joined AT&T’s board in late 2019.
AT&T declined to remark and didn’t make Luczo obtainable for remark.
Luczo most just lately purchased AT&T inventory final July, in an identical transaction, paying $3 million for 100,000 shares, a per share common worth of $29.69.
He isn’t the one AT&T insider shopping for up shares.
AT&T chief govt John Stankey and Chief Monetary Officer Pascal Desroches purchased $1 million and $600,000 of the corporate’s inventory, respectively, on Might 19. For Stankey and Desroches, their purchases of AT&T inventory on the open market have been their first.
Inside Scoop is a daily Barron’s characteristic protecting inventory transactions by company executives and board members—so-called insiders—in addition to massive shareholders, politicians, and different distinguished figures. As a result of their insider standing, these buyers are required to reveal inventory trades with the Securities and Change Fee or different regulatory teams.
Abbott raises annual earnings outlook as COVID-19 test sales rebound By Reuters
© Reuters. FILE PHOTO: Abbott Laboratories logo is displayed on a screen at the New York Stock Exchange (NYSE) in…
Goldman Sachs enlists American Express to take on cash management titans like Citigroup
A Goldman Sachs logo is seen displayed on a smartphone screen. Omar Marques | SOPA Images | LightRocket | Getty…