Sen. Jack Reed.
Senator John "Jack" Reed revealed Tuesday that he was selling
shares and shares of some other high-profile tech names in late February.
Rhode Island Democrat, serving multiple committees, including grants, armed services and banking, housing and urban affairs, sold Apple shares (ticker: AAPL) and shares of
(QCOM). Reed also sold shares of medical-tech firm
(SICK). The sale was revealed on February 28, according to a regulatory form Reed filed.
Reed's Senate Office did not immediately respond to a request for comments on the sale.
Reed sold $ 15.001 to $ 50,000 of Apple stock held in a personal account and another $ 1,000 to $ 15,000 of iPhone maker's shares from a joint account. Regulatory information does not require specific quantities, only areas.
Apple stock had a tough time as 2018 came to close; Stocks ended the year with a 6.8% decline in news the company was seeing the iPhone demand weaken. As of 2019, it was on its way, Apple cut guidance and noted "economic retardation" in China, pulling the stock. But as time has passed, the stock has found itself. When spring's first day comes on Wednesday, Apple stock now has an 18% annual gain through Tuesday's proximity. It's even better than that
S & P 500 s
13% increase in 2019. Apple stock is a Barron's pick for 2019, and we believe the company could pack its services, or iPhones and services, into an attractive monthly subscription.
The Xilinx share has been on a tear in 2019. Chip maker's shares have increased 49% so far in 2019, and are based on a 26% gain in 2018. We noted that an analyst believes that Xilinx has the best-in-class growth in sales and earnings Per share. As at Apple, Reed sold $ 15.001 to $ 50,000 of the Xilinx stock from a personal account and $ 1.001 to $ 15,000 in stock from a joint account.
Reed also sold $ 15,001 to $ 50,000 of the Qualcomm share, which has been flat so far in 2019. Shares signed an 11% loss for 2018 after the company said it would leave an attempt to acquire
(NXPI) in the middle of the year and later issued bleak guidance. Earlier this month, the chip maker claimed that US national security could be undermined by a Federal Trade Commission case that challenged the Qualcomm smart phone patent patent fee.
Reed sold $ 15.001 to $ 50,000 of the Stryker share from his personal account and $ 1.001 to $ 15,000 from a joint account. The Stryker share is up 25% so far in 2019 after a flat rate in 2018. We noted that the company's revenue and profits continued to grow during the global economic downturn ten years ago. The manufacturer of replacement hips and knees also has high customer retention.
The seller of Apple, Xilinx, Qualcomm and Stryker continues a pattern Reed set earlier this year. His only other disclosure for 2019 transactions, filed March 1, included the sale of $ 1,000 to $ 15,000 of each of the four shares from his joint account.
Write to Ed Lin at firstname.lastname@example.org and follow @BarronsEdLin .