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There are many different strategies to trade stocks and one of them is to find insider trading of stocks. When corporate insiders trade in their own securities, they must report their trades to the Securities and Exchange Commission (SEC), usually within a few business days of the trade. Insider trading cannot be based on material non-public information. However, many investors believe that corporate insiders may have better insights into the growth of the company and its proceedings. While there are many reasons for insiders to sell their shares, there is only one reason to buy. That said, investors generally look for insider selling patterns to get better insights into a company.

In this article, I will focus on notable insider sell transactions from large-cap companies (market cap greater than $10 billion) filed at the Securities and Exchange Commission on September 04, 2012. I have also included the key financial metrics for the first three companies. You can use this list as a potential starting point for your analysis.

Definition of Insider: Corporate insiders are either a company's officers, directors, or any beneficial owners of more than 10 percent of a class of the company's equity securities registered under Section 12 of the Securities Exchange Act of 1934.

Rule 10b5-1 Definition: A rule established by the SEC that allows insiders of publicly-traded corporations to create a trading plan of whenand how to buy or sell shares in that company. Rule 10b5-1 allows major holders to buy or sell a predetermined number of shares at a predetermined time. 10b5-1 plans are used by many corporate insiders to avoid the accusations of insider trading, regardless of what nonpublic knowledge he/she may later come to possess.

1. Amazon.com, Inc (NASDAQ:AMZN): Amazon operates as an online retailer in North America and internationally. Amazon has a market cap of $112.06 billion and is currently trading around $247.88 with a 52-week range of $166.97 to $251.00. The stock has gained 43.2% year to date.

According to SEC filings on September 04, 2012, Amazon had three insiders combined sell a total of 32,783 shares at a total value of $8,196,284, through a Rule 10b5-1 trading plan. On September 04, 2012, Piper Jaffray reiterated an OVERWEIGHT rating on shares of Amazon.com and increased the price target from $260.00 to $297.00. Barclays maintained an EQUALWEIGHT rating on Amazon.com with a price target of $220.00. The current stock price is fairly close to its 52-week high. On September 04, 2012, Amazon and EPIX announced a multi-year streaming agreement in the U.S., which will add thousands of new releases, classic library titles and original programs to Prime Instant Video. Over the past three months, there have been a total of 17 insider transactions and all of them are Sell transactions. The key financial metrics for Amazon are given below:

The following chart provides the insider trading summary for a three-month and 12-month period.

2. Marriott International, Inc (NASDAQ:MAR): Marriott International Inc operates, franchises, and licenses hotels and corporate housing properties worldwide. Marriott International Inc has a market cap of $12.15 billion and is currently trading around $37.63 with a 52-week range of $25.49 to $40.45. The stock has gained 29% year to date.

According to SEC filings on September 04, 2012, Marriott Stephen G (13D Group Owning more than 10%) sold a total of 83,700 shares (Class A Common Stock) at a total value of $3,147,120. Over the past three months, there have been a total of 18 insider transactions with 12 Sell transactions. The key financial metrics for Marriott International Inc are given below:

The following chart provides the insider trading summary for a three-month and 12-month period.

3. Stryker Corporation (NYSE:SYK): Stryker Corporation, together with its subsidiaries, operates as a medical technology company. Stryker has a market cap of $20.48 billion and is currently trading around $53.82 with a 52-week range of $44.55 to $57.15. The stock has gained 8.27% year to date.

According to SEC filings on September 04, 2012, Stryker Ronda E (Director) sold a total of 27,000 shares at a total value of $1,440,675, through a Rule 10b5-1 trading plan. Over the past three months, there have been a total of 61 insider transactions and all of them are Sell transactions. The key financial metrics for Stryker are given below:

The following chart provides the insider trading summary for a three-month and 12-month period.

Other notable insider selling transactions (minimum transaction value of $150,000) from large-cap companies filed at the SEC on September 04, 2012, are as follows:

4. FMC Technologies, Inc (NYSE:FTI): FMC Technologies provides technology solutions for the energy industry worldwide. FMC Technologies has a market cap of $11.23 billion and is currently trading around $47.13 with a 52-week range of $34.46 to $55.19. The stock has fallen 9.76% year to date. According to SEC filings on September 04, 2012, FMC Technologies had two insiders combined sell a total of 18,962 shares at a total value of $887,779. Multiple insider selling is usually a negative sign.

5. Regeneron Pharmaceuticals Inc (NASDAQ:REGN): Regeneron Pharmaceuticals is a biopharmaceutical company, discovers, develops, and commercializes medicines for the treatment of serious medical conditions in the United States. Regeneron Pharmaceuticals has a market cap of $14.42 billion and is currently trading around $150.16 with a 52-week range of $49.58 to $150.82. The stock has gained 170.9% year to date. According to SEC filings on September 04, 2012, Goldberg Murray A (Senior Vice President, Finance and Administration, Chief Financial Officer, Treasurer, and Assistant Secretary) sold a total of 5,296 shares at a total value of $772,608, through a Rule 10b5-1 trading plan.

6. Altera Corporation (NASDAQ:ALTR): Altera Corporation is a semiconductor company, designs, manufactures, and markets programmable logic devices ((NYSE:PLD)), HardCopy application-specific integrated circuit (OTC:ASIC) devices, pre-defined design building blocks, and associated development tools. Altera has a market cap of $11.85 billion and is currently trading around $37.06 with a 52-week range of $29.67 to $41.63. The stock has fallen 0.11% year to date. According to SEC filings on September 04, 2012, Pasek Ronald J (Senior Vice President and Chief Financial Officer) sold a total of 14,000 shares at a total value of $510,810.

7. Raytheon Company (NYSE:RTN): Raytheon Company designs, develops, manufactures, integrates, and supports technological products, services, and solutions for governmental and commercial customers in the United States and internationally. Raytheon has a market cap of $18.74 billion and is currently trading around $56.45 with a 52-week range of $38.35 to $56.92. The stock has gained 16.68% year to date. According to SEC filings on September 04, 2012, Wood Michael J (VP, Controller & CAO) sold a total of 7,000 shares at a total value of $394,730, through a Rule 10b5-1 trading plan. On September 4, 2012, the Missile Defense Agency awarded Raytheon a $230 million contract for 14 Standard Missile-3 Block IA missiles and five SM-3 Block IB missiles.

8. Broadcom Corporation (NASDAQ:BRCM): Broadcom Corporation designs and develops semiconductor solutions for wired and wireless communications. Broadcom has a market cap of $19.76 billion and is currently trading around $35.34 with a 52-week range of $27.59 to $39.66. The stock has gained 20.37% year to date. According to SEC filings on September 04, 2012, Tirva Robert L (SVP & Corporate Controller) sold a total of 11,069 shares (Class A common stock) at a total value of $394,056. Hyung Lim (former executive at Broadcom Corp) pleaded guilty to one charge of conspiracy to commit securities fraud and one charge of wire fraud. Mr Lim said that he passed on nonpublic information about NVIDIA Corp (NASDAQ:NVDA) to a friend, Danny Kuo, an analyst at an investment firm and he learned about the information from another friend in the accounting department at NVIDIA. As per the Prosecutors, this scheme could involve stocks in as many as 35 companies.

9. Duke Energy Corp (NYSE:DUK): Duke Energy Corporation operates as an energy company in the United States and Latin America. Duke Energy has a market cap of $45.63 billion and is currently trading around $64.81 with a 52-week range of $54.99 to $71.13. The stock has fallen 1.8% year to date. According to SEC filings on September 04, 2012, Yates Lloyd M (Executive VP, Customer Ops) sold a total of 5,000 shares at a total value of $324,558.

10. The Travelers Companies, Inc (NYSE:TRV): The Travelers Companies provides various commercial and personal property and casualty insurance products and services to businesses, government units, associations, and individuals primarily in the United States. Travelers has a market cap of $24.91 billion and is currently trading around $64.64 with a 52-week range of $45.97 to $65.72. The stock has gained 9.24% year to date. According to SEC filings on September 04, 2012, Clifford John P Jr (EVP, Human Resources) sold a total of 3,500 shares at a total value of $227,500.

11. Gilead Sciences, Inc (NASDAQ:GILD): Gilead Sciences is a biopharmaceutical company, discovers, develops, and commercializes human therapeutics for the treatment of life threatening diseases worldwide. Gilead Sciences has a market cap of $43.89 billion and is currently trading around $58.01 with a 52-week range of $34.45 to $58.84. The stock has gained 41.73% year to date. According to SEC filings on September 04, 2012, Washington Robin L (SVP, CFO) sold a total of 3,466 shares at a total value of $199,239, through a Rule 10b5-1 trading plan.

Sources: Some of the data is sourced from Google Finance, Nasdaq, Finviz, Fidelity, and SEC.gov.

Disclaimer: I am not a registered investment advisor and do not provide specific investment advice. The information contained herein is for informational purposes only. Nothing in this article should be taken as a solicitation to purchase or sell securities. Before buying or selling any stock you should do your own research and reach your own conclusion. It is up to investors to make the correct decision after necessary research. The information and data is believed to be accurate, but no guarantees or representations are made.

Source: Notable Large-Cap Insider Sells Filed On September 4