Most investors are likely familiar with the adage, "actions speak louder than words." That saying certainly applies to the executives and other corporate insiders buying and selling shares of their own company's stock.
It's part of an executive's job to paint a rosy public picture of the future of a company, but a CEO's bullish words may not be an accurate reflection of how he or she truly feels about a stock. However, if company insiders are backing up positive words with insider buying, it can be a confirming indication that management is truly bullish enough about the future to put their own skin in the game.
Here are seven stocks that Bank of America analysts recommend that have seen insider ownership increase in the last year.
Incyte Corporation (NASDAQ:INCY)
Incyte develops and commercializes oncology therapies.
Bank of America has a Buy rating and $90 price target for INCY stock.
Twitter Inc (NYSE:TWTR)
Twitter is one of the world's largest social media platforms.
Bank of America has a Buy rating and $54 price target for TWTR stock.
Best Buy Co Inc (NYSE:BBY)
Best Buy is a leading North American consumer electronics retailer.
Bank of America has a Buy rating and a $135 price target for BBY stock.
APA Corp (US) (NASDAQ:APA)
APA is an oil and gas exploration and production company formerly known as Apache.
Analyst Doug Leggate says there is still plenty of value in APA shares, even as soaring oil prices have sent the stock up 64% in the past year. Leggate says APA has commodity price leverage and stock-specific catalysts that can unlock value for investors. He says improved contract terms in Egypt and potential exploration success in Suriname could generate surprise upside in the stock. APA insider ownership is up 3.4% in the past year.
Bank of America has a Buy rating and $60 price target for APA stock.
Ford Motor Company (NYSE:F)
Ford is one of the largest legacy Detroit automakers.
Bank of America has a Buy rating and $30 price target for F stock.
Verizon Communications Inc. (NYSE:VZ)
Verizon is the largest U.S. wireless carrier.
Bank of America has a Buy rating and $64 price target for VZ stock.
AT&T Inc. (NYSE:T)
AT&T is a diversified telecommunication, media & entertainment and technology company.
Bank of America has a Buy rating and $36 price target for T stock.
Also Read: 3 Penny Stocks Insiders Are Buying
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